5 things to do immediately after your ATM card is stolen

Losing an automated teller machine (ATM) card can be stressful, particularly when you are unsure whether someone has already used it. A stolen card may expose you to unauthorised withdrawals, payments or other transactions, depending on the type of card, its security features and the services linked to it.

In Nigeria, bank cards are commonly used to withdraw cash, pay for goods and services, and complete transactions through point-of-sale terminals and online platforms. 

If your card falls into the wrong hands, a criminal may attempt to use it, especially if they also obtain your personal identification number (PIN) or other security details.

However, a stolen card does not automatically mean that your money has been taken. Acting quickly can reduce the risk of further transactions and make it easier to report and investigate any unauthorised activity.

If you discover that your ATM card is missing and suspect it has been stolen, do not wait until you notice an unfamiliar transaction before taking action.

In this article, Tribune Online highlights five things to do immediately after your ATM card is stolen.

The first thing to do after discovering that your ATM card has been stolen is to block it or request that your bank deactivate it immediately. This prevents further use of the card, although the precise protection depends on the bank’s systems and the types of transactions involved. Some transactions may already have been authorised or may still be processing when you report the theft.

Many banks provide ways to block a card through their mobile banking applications, internet banking platforms, customer service lines or other official channels. The available options differ from one bank to another.

If your banking application allows you to freeze or block your card, use the feature as soon as possible. If you cannot access the application, contact your bank through its verified customer service number or visit a branch when necessary.

Do not delay because you are unsure whether the card has been used. The purpose of blocking it is to reduce the opportunity for further unauthorised transactions. 

When contacting your bank, explain clearly that your card has been stolen and that you want it blocked. Follow the bank’s instructions and ask for confirmation that the card has been deactivated.

Be careful when searching for your bank’s contact details online. Criminals sometimes publish fraudulent telephone numbers or send fake messages designed to trick customers into revealing sensitive information. Use the contact details on the bank’s official website, its verified application or your existing banking documents.

Never disclose your PIN, password or OTP to someone who claims to be helping you block the card. Your bank should not need you to reveal these secret credentials to report a stolen card.

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Check your bank account for unauthorised transactions

After requesting that your card be blocked, check your account for transactions you do not recognise. Use your bank’s official mobile application, internet banking service, transaction alerts or another secure channel to review recent activity. Look for unfamiliar cash withdrawals, point-of-sale payments, online purchases or transfers, where applicable.

Pay attention to transactions that occurred around the time you lost the card. Even if the amount involved is small, an unfamiliar transaction should not be ignored. 

For example, if you notice a withdrawal you did not make or a payment you did not authorise, record the amount, date and time. Keep any relevant transaction reference numbers and notifications because the bank may need them when investigating the incident.

If you do not have access to mobile banking, contact  your bank and ask how you can confirm whether any transactions have occurred. Do not assume that every unfamiliar transaction is necessarily connected to the stolen card. Your bank can establish what happened and explain the available dispute process.

If you identify an unauthorised transaction, report it to the bank immediately. Explain that your card was stolen and provide the details of the transaction. Ask the bank to register a complaint and tell you what evidence or forms are required.

Keep a record of your complaint reference number, the date you reported the incident and any instructions provided by the bank. These details may be useful if you need to follow up.

The sooner you identify and report suspicious activity, the sooner the bank can begin reviewing it. However, any refund or reversal will depend on the circumstances, the bank’s investigation and the applicable terms and rules.

If your ATM card has been stolen, consider whether the thief could also know your PIN or have access to other banking information.

If you wrote your PIN on a piece of paper kept with the card, shared it with someone or suspect that it has been exposed, tell your bank immediately. Ask whether the PIN should be changed and whether other security measures are necessary.

You should not wait until money disappears from your account before reporting a compromised PIN. Follow your bank’s official process for changing your PIN. 

Depending on the bank and the circumstances, you may need to obtain a replacement card before setting a new PIN. Avoid choosing an easily guessed PIN, such as your date of birth or a simple sequence of numbers. Do not use the same PIN for several unrelated services.

You should also protect your mobile banking application and internet banking account. If you suspect that someone has accessed your phone, banking credentials or email account, change the affected passwords through official channels and review active sessions where the service allows it.

Keep your phone’s screen lock enabled, and never share your banking password or OTP with anyone. If you receive an unexpected message asking you to confirm your account details, block your card or claim a refund through a link, verify the request independently before taking action.

In particular, be cautious of people who contact you shortly after the theft and claim they can recover your money or help you activate a new card. They may be attempting to exploit your anxiety. Your bank can explain which credentials need to be changed and whether additional restrictions should be placed on your account.

Report the theft and request a replacement card

Once you have blocked your card and checked your account, report the theft formally to your bank and request a replacement if necessary.

Explain when and where the card was stolen, if you know these details. If it disappeared alongside your wallet or other belongings, mention that as well. Your bank may ask you to complete a form or provide identification before issuing another card.

Ask about the replacement process, any applicable charges and the expected collection or delivery arrangements. These details vary between banks. 

If your card was stolen during a robbery, pickpocketing incident or another crime, consider reporting the incident to the police. 

A police report may also be useful if your bank, insurer or another relevant organisation requests documentation, although the requirements depend on the circumstances.

Provide accurate information when making a report. If you do not know who stole the card or how it happened, say so rather than making assumptions. 

Keep copies of relevant documents, complaint reference numbers and correspondence relating to the incident. If the bank is investigating unauthorised transactions, organise the information so you can provide it when requested.

Do not assume that receiving a replacement card automatically resolves any unauthorized transactions made with the previous one.Follow up on outstanding complaints separately and retain the details of each case.

Before using your replacement card, follow the bank’s activation instructions and set a secure PIN. Ensure that your contact details are correct so you can receive transaction alerts and other important notifications.

Monitor your account and take steps to prevent future theft

Blocking the stolen card is an important first step, but you should continue monitoring your account after reporting the incident. Check your transaction history regularly for unfamiliar activity. Pay attention to banking notifications and respond promptly if your bank contacts you through a verified channel about a security concern.

If another unauthorised transaction appears, report it immediately, even if you have already made a complaint about the stolen card. Provide the new transaction details and ask for the case to be updated. 

You can also ask your bank which transaction alerts and card controls are available. Some banks allow customers to manage card usage or receive notifications when certain transactions occur. Features vary, so confirm what your bank offers.

Going forward, keep your ATM card in a secure place and avoid leaving it unattended. Shield the keypad when entering your PIN at an ATM or point-of-sale terminal. Before using an ATM, check for anything unusual around the card slot or keypad, and cancel the transaction if you suspect that the machine has been tampered with. 

Avoid carrying your PIN with your card, and do not let another person handle your card unnecessarily. If you need assistance at an ATM, use official support channels rather than accepting help from a stranger.