We’ve all experienced that feeling of alarm when we can’t find our wallet. If you’re for sure your wallet has been lost or stolen, knowing what to do next can calm some of your panic. Consider the steps below to help you recoup and protect your identity.

  1. File a police report. If any crimes are committed in your name, having a police report on file can establish your innocence. It will also back up your claims if identity theft does occur.
  2. Contact your bank. Chances are you were carrying information related to your bank account: account numbers, a debit card or checks. Your bank will guide you through what to do with your account and debit card. Continue to watch all your accounts carefully for fraudulent transactions.
  3. Call the issuers of all the credit cards you were carrying immediately. By law, you cannot be held liable for charges made after you’ve reported that your card was stolen. The card issuer will replace your card with a new one. Be sure to update your card information for your online accounts and recurring payments.
  4. Report your driver’s license lost or stolen to the DMV. This way there will be a record of it if any misuse occurs. Before you begin driving again, follow the steps to get a reissued license.
  5. Contact all three major credit bureaus (Equifax, Experian, or TransUnion) to request an initial 90-day fraud alert on your file. A stolen wallet can be the first step to an identity theft, but a fraud alert will prevent new accounts that go through a credit check from being opened for 90 days. After the 90-day period, check with each credit bureau on how you can extend the fraud alerts. Continue to periodically review your credit report to watch for fraudulent items.

By taking these steps immediately after your wallet is lost or stolen, you can prevent more hardship down the road.

More tips from Pinnacle Bank. https://www.pinnbank.com/blog


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