Have you lost your wallet? Here’s what to do. First, don’t panic. You can find it or replace it. Your first goal is to lower the risk of identity theft or minimize its effects. After that, you can begin your search.
Contact Your Debit Card Issuer
A thief can rack up thousands of dollars on a stolen debit card in no time at all. As the debit cardholder, you need to get ahead of that issue as soon as possible. If you notice your wallet is missing, immediately call the bank that issued your debit card and tell them to cancel it. Typically, if you report a card missing within two business days after its loss, you’ll only have to pay a maximum of $50 for unauthorized purchases.
Contact Your Credit Card Companies
After you cancel your debit card, it’s time to cancel your credit cards. The Fair Credit Billing Act says that you will only be responsible for $50 of unauthorized purchases made on your credit cards.
If you receive messages from your bank and credit card companies asking about recent expensive purchases, someone has probably stolen your wallet. If that’s the case, make sure you file a police report.
Get a New Driver’s License
Nobody wants to be in a position where they’re unable to produce a driver’s license when the police pull them over. A mistake like that could lead to a hefty fine or even jail time if you have other major traffic offenses.
If you lost your wallet and are unsure what to do, one of your first steps should be to get a new driver’s license. You must go to your local department of motor vehicles (DMV) facility to attain a new license. The requirements for this vary by state, but you will generally need to show proof of identity and residence.
Begin the Search
If you don’t receive warning messages from your bank and credit card companies, your wallet is probably just misplaced. Of course, you should still cancel your cards. But once you cancel everything, you must go about finding the spot where you lost the wallet.
There are several methods you can use to find a missing wallet. Here are a few:
- Check all the spots where you typically put it down.
- Think of where you last saw the wallet and retrace your steps.
- If you think you lost your wallet in a specific room, try cleaning the room. It might show up.
- If you think you lost it in a public place, check lost-and-found locations.
- Post fliers and posters.
It can be very easy to panic when you lose your wallet. But you will be better off in the long run if you center yourself, minimize your emotions, and focus on actionable goals. Following these steps will hopefully lead you to your wallet. If you ever need a replacement, consider a slim, stylish aluminum minimalist wallet from Fantom.