What Happens if You Leave Your Card in an ATM?
Left your card at the ATM? Understand the process, secure your accounts, and easily get a new card with our comprehensive guide.
It can be unsettling to realize you’ve left your card in an Automated Teller Machine (ATM). Financial institutions have established procedures to address such occurrences and protect your account. Understanding these protocols and taking prompt action can help mitigate any potential issues.
What Happens to the Card
When a card is left in an ATM, the machine typically has internal mechanisms. Most modern ATMs will retain the card after a short period of inactivity if it is not removed by the user. This is a security measure to prevent unauthorized access. The card is pulled back into the machine and becomes inaccessible.
In some cases, if the ATM experiences an error or malfunction, it might also retain the card. If the ATM is located within a bank branch, the card might be retrieved by bank staff and held for a limited time, usually a business day, allowing the cardholder to potentially retrieve it. If the card was used at an ATM belonging to a different bank, it is often shredded, and a new card must be issued.
Immediate Actions to Take
Act quickly once you realize your card has been left in an ATM. First, contact your bank or financial institution immediately to report the incident. Many banks offer 24/7 customer service for reporting lost or stolen cards. Prompt notification allows the bank to deactivate the card, preventing unauthorized transactions.
When you contact your bank, provide details such as the ATM’s exact location, date, and approximate time. If the ATM is at a bank branch, inquire about their policy for retrieving retained cards. Note any confirmation numbers for future reference.
Protecting Your Finances
After reporting your card missing, take steps to protect your financial accounts. Regularly review your bank statements and online banking activity. Many financial institutions allow you to set up transaction alerts, which can notify you of account activity via text or email.
Federal laws, such as the Electronic Fund Transfer Act (EFTA) and its implementing Regulation E, provide consumer protections for electronic fund transfers, including debit card transactions. These regulations limit your liability for unauthorized transactions if you report the loss or theft promptly. For instance, if you report the loss of your debit card within two business days of discovering it, your liability for unauthorized charges is generally limited to $50. If you delay reporting beyond two business days, but within 60 days of the statement showing the unauthorized activity, your liability could increase to $500. Beyond 60 days, you could face unlimited liability for unauthorized transactions.
Obtaining a Replacement Card
Once notified, your bank will typically cancel the compromised card and issue a new one. You can usually request a replacement card through online banking portals, mobile banking applications, or by calling customer service. Some banks allow you to visit a local branch for a replacement.
New card delivery typically ranges from 5 to 10 business days. If you need a card sooner, many banks offer expedited delivery options, which might incur a fee but can deliver the card within 2 to 3 business days. Some financial institutions also provide temporary measures, such as issuing a digital card for online purchases or linking to a mobile wallet for in-person transactions while you await the physical card.