1. ATM cash withdrawals
2. Online purchases of goods and services
3. POS centers cash withdrawals
4. ATM bills payments
5. ATM funds transfers
6. POS bills payments
7. Online/Web subscriptions
8. And many more.
With just the 4-digit pin and sometimes biometrics, all these transactions are made possible. Now you agree it is imperative that cardholders keep their cards and pins safe.
- Hotlist or block ATM card
In fact, banks and other card issuers are not liable for any loss if cardholders compromise their cards or pins or card numbers, or even lose the cards without reporting timely.
Meanwhile, while there are times cardholders deliberately compromise their card details and pin while entrusting third parties with them, there are times when these cards are outrightly stolen or lost or compromised or strangely cloned and being used while real card is present, thus exposing account funds to unauthorised access.
What to do when ATM card is lost or stolen?
Fact is you must act fast to disable your card or restrict card access to your account when your card is lost or stolen or compromised in any way. It could be mere suspicion, I recommend its better to err on the path of caution. Depending on the card issuers, there are some similar and different ways to disable your card in any of these scenarios.
1. BLOCK THE CARD
Depending on the bank or card issuers, there are various ways to block your ATM cards within few moments.
> Mobile app
Using the card issuer's mobile app, you can quickly navigate to Cards option and look for ways to block or disable your card immediately. This, by my experience works with Access, Zenith and many other banks and Fintech apps that issue cards.
Also, there are parts of the mobile apps that can connect you with instant support via chat or email. Take advantage of these support sections to demand card blocking.
> USSD strings
Some banks like Zenith, Globus, Access and others have options in their USSD strings that can disable or block the account holder's card immediately. With Zenith Bank, some options under the *966# string works. Globus uses *989# while Access uses *901#.
Dial on the mobile line attached to your account and follow the on-scree directions.
> Visit nearest branch ASAP
If your card issuers or bank has physical branch nearby, rush in there and verbally tell them your situation. Tell them specifically to block your ATM card immediately and give your account number. Once they verify your identity as the owner of the account, they are sure to take the card blocking as top priority to safeguard your funds. Anything short of that is serious disservice.
> Call your account manager
Many Banks like Globus Bank and Zenith Bank have dedicated account managers for every customer who cam be reached 24/7 for support. Reach your account manager or officer via call (preferably) or if call is not possible via Instant Messaging to help disable your card. Reliable account officers are equipped by their banks to do the needful and give positive feedback to account owner within minuted
> Call your bank contact center
I have decided to put this as last because of our experiences on the contact center lines.
We're currently experiencing high call volume, you're number 5,678 on the line. Please hold on while we connect your call to the next available... blah blah blah.
OMG! When you need to block your card ASAP? Damn it.
In fact, there are dire situations where the account holder may already be receiving unauthorised debit alerts, so it's emergency!
So, being number 5,000 on the line won't cut it. This is an area of improvement all Nigerian Banks must look into. Its service issue.
Meanwhile, if you're lucky to get through after hours of waiting, or your bank is creative enough to give your voice command options that can indicate how urgent the issue is, then you can get it sorted adap.
> Send email to your bank
Sending email to your bank's contact center email address can help especially during working hours when these email boxes are monitored. Ordinarily, we expect these to be monitored 24/7, but no guarantee.
Recommendations on Card Blocking:
In all of the above, I strongly recommend that you give sufficient details when reaching out in order to shorten the resolution time. As you contact your bank officer or Head office, be sure to give your account details right away so they won't have to call back to find out same.
2. BLOCK YOUR ACCOUNT
As alternative to blocking just the lost card, your can equally opt for blocking the account entirely from all forms of debit, not just card based debits. This ensures complete protection especially when more than just card is compromised. Just know that once this is achieved, you can't do any form of payment or withdrawals from your account till you get to the bank, but at least your money is safe.
To do this,
> Emergency USSD strings
Banks like Zenith have incorporated the SOS string 911 to their USSD. Dialing *966*911# on Zenith account will freeze your account and no withdrawal will happen on the account. Beautiful thing is you can also help someone block their account with your own phone in case they lose their phone too or does not have immediate access to it. Try adding the *911# to your banks code and see if it helps.
- Zenith 911 code
> Contact your bank
Be it through call to account officer or via contact center, or mobile app, you can instruct your bank or card issuers to block your cards or entire account immediately.
3. OTHER SPECIAL METHODS
Some banks ks like GTB have special ways like sending SMS in certain form to a line. See below.
- Gtb special sms card hotlist
Hope I have been able to assist someone.
Please share this knowledge.
