You are on holiday abroad and you have just been the victim of a theft or you have just lost your credit card card? What are the formalities to be completed to protect you from possible abuse?

Let’s understand this in detail below:

Risks related to the theft or loss of bank cards abroad

When on holiday abroad, be even more alert than at home. Because in the event of theft or loss of your bank card the procedure to report will be more complicated in foreign country.

There is a good chance that someone with bad intentions may have stolen your card for fraudulent use. Although fraudsters cannot withdraw money without your PIN code at ATMs in Europe or abroad, they can make payments on your behalf, especially online payments on sites that do not bear the words “Verified by Visa”, “MasterCard Secure Code” or “SafeKey”.

Moreover, in some countries outside Europe, it is still not necessary to put your PIN code to make payments in shops, restaurants, etc.. This increases the risk of fraudulent use of your lost or stolen card.

What is the procedure to follow in case of lost or stolen bank card abroad?

When you notice your credit card has been lost or stolen, you must act quickly. You must, in order:

• Contact your bank to stop and block your card. It is also very important to keep the acknowledgement number provided by your bank, it will be required to prove your claim.
• Report suspicious theft or loss of your credit card to the local police.

It is very important to take these steps as soon as possible in order to be able to be compensated for the money used without your knowledge. If you still have your card but it has been used without being physically presented (for example via the Internet), or if it has been copied, you will not have to pay a small amount to the bank.

If you follow this procedure carefully, you will in the worst case lose a small amount of money. Your credit card provider is responsible for all fraudulent charges made after you report to stop your card. This is only true if you have not committed a deliberate negligent act, such as leaving your credit card in your car in plain view with your PIN code nearby.

By performing this procedure, your bank will reimburse you for fraudulent transactions between the time your card is stolen and the time it is blocked. The small amount mentioned above can be waived if you have fraud insurance included in your credit card.

In addition, you can also ask your bank to replace your bank card. In general, replacement costs will be at your expense.

How can I protect myself against credit card theft or loss abroad?

To avoid becoming a victim of credit card theft or loss abroad, here are some simple tips to follow:

• Keep your credit card in a safe place.
• Be vigilant when withdrawing money: go with someone, avoid using ATMs at night, prefer withdrawing money inside banks, check the status of the ATM (extra cameras, keyboard status, etc.) and be attentive to the people around you when withdrawing money.

You now know the main formalities to complete in the event of theft or loss of a bank card. So be careful with your bank card when travelling abroad.