Blocking a Credit Card

If you lost your credit card or it was stolen by a Totsi, make sure you are blocking a credit card as soon as you discover that it is missing.  This will prevent your card from being used to fraudulently purchase goods or withdraw money.

Key Takeaways

1. Blocking Methods: There are various ways to block a lost or stolen credit card, including online platforms, customer service helplines, and in-person visits at bank branches, to quickly prevent unauthorised transactions.
2. Financial Protection: Immediate blocking not only triggers additional security protocols but also reduces the cardholder’s liability for fraudulent transactions, helping to protect credit scores and financial identity.
3. Recovery and Safety Tips: Measures such as setting up transaction alerts, using strong passwords, and avoiding phishing, help in safeguarding against potential fraud.

Reporting and Blocking a Credit Card

There are several methods to block your credit card, and we’ve outlined them below for your convenience:

Online

Given our reliance on digital platforms, every credit card provider offers internet banking services. You should activate this as soon as you receive your card. To block your credit card online effortlessly, just follow these steps:

1. Log into your account via the official website or app of your credit card company
2. Navigate to the ‘Requests’ section and choose ‘Report a lost/stolen credit card’.
3. Click on ‘Block your credit card’.Hit ‘Submit’.

Helpline

Credit card companies provide 24/7 customer support. Should you need immediate assistance, call the customer service team of your bank. The contact details can be found on the official website of your credit card issuer. Alternatively, you can send a text message to block your card to the numbers listed on the bank’s website. Following your request, you’ll receive an SMS confirming that your card has been blocked.

Offline

If preferred, you can visit your bank’s branch to block your card in person. Simply fill out a form with your personal details and submit it to the bank staff; your card will be blocked thereafter.

Once this is done, immediately go to the police and make a report about the theft or loss of your card.  Make sure to obtain a reference number. You will require an Incident report number whenever you are making a claim.

Blocking a Credit Card: Safety Features

A safety feature of almost all credit card providers is the use of your pin.  If you enter your pin incorrectly the 3^rd time, it will automatically block your card.  This feature is for your own safety.  If someone has stolen your card and is trying to access your money, your card will be blocked on the third failed attempt.  You can unblock your card if it was blocked by mistake, by contacting the credit card company.

Emergency contact numbers

Here are some important numbers to keep handy should you lose your credit card or if it is stolen. These numbers are emergency contact numbers and therefore available 24 hours a day.

Standard Bank’s Rules if Your Card is Lost or Stolen

1. Call their Lost Card Division immediately
2. Confirm your ID or card number
3. Keep the reference number they give you safe in case of fraud
4. Don’t use any cards linked to your old card until you have your replacement card’s new number

To report your card lost or stolen in the mobile banking app

• Select ‘manage cards’
• Choose card
• Select ‘card settings
• Select ‘lost cards’

If your card is used to commit fraud, you should report the fraud within 60 days of the transaction.  Additionally, your lost card division reference number which was given to you when you reported the loss, will help you to keep track of your case with Standard Bank’s Financial Crime Unit.

ATM Crime Local Cards – To Report Lost or Stolen Cards Use the Number Below

The Benefits of Blocking a Credit Card Immediately

Blocking a credit card immediately after it is lost or stolen is crucial to protecting oneself from potential financial fraud and theft. Here are the primary benefits of taking such swift action:

Prevent Unauthorised Transactions

The most immediate and obvious benefit of blocking a lost or stolen credit card is to prevent unauthorised use. This stops fraudsters in their tracks before they can make any unapproved purchases or withdrawals, thereby safeguarding the cardholder’s funds.

Limit Financial Liability

In many jurisdictions, the cardholder’s liability for fraudulent transactions can be significantly reduced or even waived if the card is reported lost or stolen promptly. Many credit card companies have policies that limit a cardholder’s liability if immediate action is taken.

Preserve Credit Score

Unchecked fraudulent activities can negatively impact one’s credit score. By blocking the card, the cardholder can prevent fraudulent transactions that could potentially lead to higher credit utilisation or unpaid debts appearing on their credit report.

Fast Response and Resolution

Immediate blocking of a credit card often leads to quicker resolutions. Most banks and card issuers can then begin the process of investigating any suspicious transactions and work towards issuing a replacement card without significant delays.

Peace of Mind

Knowing that a lost or stolen card has been blocked provides emotional relief and peace of mind. The cardholder can rest assured that their financial identity is secure, which is less distressing than worrying about potential financial loss.

Enhanced Security Measures

When a card is reported as lost or stolen and subsequently blocked, it often triggers additional security protocols by the issuing bank. These may include monitoring for unusual activity and implementing stricter security measures for future transactions.

How to Unblock Your Credit Card

Unblocking your credit card can differ between banks, but here are some general steps to guide you:

1. Contact Customer Service: Reach out via the helpline or use the mobile banking app.
2. Verify Your Identity: Provide the necessary identification details for verification.
3. Request to Unblock: Ask the customer care representative to unblock your credit card.
4. Follow Instructions: Adhere to any further instructions provided by customer service.

These steps will help you promptly regain access to your credit card.

Tips for Keeping Your Credit Card Safe

1. Memorise Your PIN: Avoid writing down your PIN; instead, commit it to memory to reduce the risk of theft.
2. Keep Your Card Details Private: Never divulge your credit card information to anyone.
3. Monitor Your Statements: Regularly check your credit card statements and transaction history to spot any discrepancies early.
4. Set Up Alerts: Enable transaction alerts and notifications to keep track of all card activities.
5. Use Strong Passwords: Ensure all your online transactions are secured by creating robust passwords.
6. Exercise Caution Online: Take necessary precautions when using your credit card for online purchases to avoid exposure to fraud.
7. Shield Your Card During Transactions: Cover your card details during physical transactions to prevent skimming.
8. Maintain Confidentiality: Always keep your credit card information confidential and secure.
9. Beware of Phishing Attempts: Stay alert to phishing emails or calls pretending to be from your bank and never respond to unsolicited requests for your card details.

If after taking all the precautions, you still lose your card or it is stolen, then the above measures and telephone numbers will help you to recover your loss, should you report the theft immediately.

Conclusion

That’s how to safeguard your credit card against theft or fraudulent transactions. Instantly blocking your card is crucial to prevent unauthorised use. If your card is just misplaced, you might choose to temporarily block it instead. Temporarily blocked cards can easily be reactivated through SMS, online banking, or by contacting the customer care hotline.

Frequently Asked Questions