At present, the use of credit and debit cards is continuously increasing. Usually, people call it plastic money. With these two cards, it is a hassle of keeping cash. The faster the use of these two has increased, the faster the reports of fraud associated with it are also coming up these days. Unfortunately, if you are going somewhere and your debit and credit card is lost, what will you do first? We will explain to you through our article what you should do instead of being in this situation.
If the card is lost or disappears, first contact your respective bank and apply to block the card. If you have communicated it to the bank, you will not be accountable for any card transactions. As soon as you report the loss or theft of your card to the bank, it is the responsibility of the bank to protect you from financial fraud. If your card has been misused, you will not have to pay the amount.
Most credit card issuers facilitate zero liability policy to protect the interests of cardholders, including financial fraud severed at the time of card loss. The complaint has to be made at the earliest, so try to give information to the bank at the earliest. If you have a debit or credit card, read the policy carefully, because if the bank refuses to take responsibility and says that they are not liable in connection with any transaction made before the damage is reported. Then this burden will come to you because the cardholder has to prove that it is not the user's fault.
If you successfully prove it, the card-issuing bank provides you with the amount that you have lost. But this process takes time. So try to always be alert about your card and immediately report it to the bank as soon as you lose it.
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