What Steps Should I Follow to Block my ATM Card?

Today debit cards have become an integrated part of our daily lives. These are useful for easy transactions, and cash withdrawals. Debit cards help in eliminating a lengthy transaction process of withdrawing money from the bank.  At present, an individual only needs to go to an ATM, enter a registered PIN number and withdraw the cash. These are plastic cards which can even be used for any POS transaction as well.

Having a debit card is quite handy. But, there are also certain security concerns associated with it. A lost or misplaced card can be a great risk for the holder. In such instances, filing an FIR/GD is the first thing to do followed by blocking the card. But the hassles of recovery, other than the risks of fraudulent activities persist.

Why is it important to block a lost/stolen ATM card?

A debit card is directly linked to the card holder’s bank account. If you lose your debit or ATM card, you are obviously exposed to significant risks. Therefore, as a cardholder, you should know how to block an ATM card.

How to block a debit card?

There are a number of approaches in which an individual can block their debit or ATM card. Four of the most common ways are given below.

      1.      Block debit card online

Step 1: Visit the respective website of your financial institution or debit card provider
Step 2: Log in to the respective net banking portal using the registered password and username
Step 3: Select the ATM card services option. Choose the option to ‘block ATM card.’
Step 4: Choose the ATM card you want to block by entering the details.
Step 5: Click on continue after choosing the right option.
Step 7: Enter/Choose the ATM card number.
Step 8: Scroll down on the page and mention whether it was lost or stolen.
Step 9: An OTP (One Time Password) will be provided.
Step 10: Select the ‘Submit’ option.

        2.      Through SMS

There is also, the feature which provides the opportunity for ATM card block through a simple SMS. The SMS needs to be sent in the format respective to the financial institution. After accepting the block request, the cardholder will receive a confirmatory SMS alert with a ticket number, time and date of blocking.

         3.      Via phone call

This is the easiest option involving minimal hassle. A cardholder can block his/her ATM card with the help of the respective customer service portal. Worth mentioning, an actuation of such a process may require an extensive timeline.

You can opt for Wallet Care insurance from the Pocket Insurance schemes brought to you by Bajaj Finserv to block your lost ATM card with just a single call.

        4.      Visiting the nearest branch

In case one is not comfortable with the above options, he/she can visit the nearest branch.

Replacing the debit card

In the case of a lost card, an individual can also opt for replacement. The cardholder can order a replacement of the ATM card in the following ways.

       1.      Ordering replacement of ATM Card Online

·         Login using registered ID and password
·         Select customer service
·         Select ATM replacement option
·         Select the appropriate card from the drop-down menu
·         Click on continue
·         Verify the information
·         Click on confirm

        2.      Visiting the local branch

One can visit the local branch to order an ATM card replacement. This process may be associated with some hassle but some people prefer this to the other methods.

         3.      Contact customer care

Calling a customer care advisor can be another option which allows you to apply for a replacement without any hassle.

Bajaj Finserv brings you Pocket Insurance schemes such as Fraudulent Charges Cover to protect you from any unauthorized charges debited via your card.

Losing an ATM card is quite common. It can be a potential threat to the owner. As a debit cardholder, note that any fraudulent transactions on your card is irreversible. So, activities beyond your consent will lead to loss of money which you will be unable to recover. Make sure you avail an insurance policy for financial coverage against such unwanted situations without delay.
What Steps Should I Follow to Block my ATM Card? What Steps Should I Follow to Block my ATM Card? Reviewed by Pravesh Kumar Maurya on May 28, 2019 Rating: 5

No comments:

Powered by Blogger.