What to Do If You Lose Your Bank Card?

Prepared in partnership with Earlyone. (Google Play, iOs)

Unfortunately, such an unpleasant incident can happen to anyone; no one is immune to losing their card. If it does happen, the main thing is not to panic. It's crucial to quickly protect your money and restore access to your account.

Every day, dozens of Armenian bank clients lose their cards. We'll explain how to avoid losing money and quickly restore account access in such a situation.

Step-by-Step Actions:

1. Block the Card

Call the bank, first authenticating yourself using a code word, or log into the mobile app. There's usually a "Block Card" button there. This will immediately stop any payment attempts.

How exactly can you block a card?

Most banks allow you to do this:

1. via mobile app,
2. by calling the call center,
3. at any branch.

The fastest way is through the app or by calling the hotline.

2. Check Recent Transactions

If someone has already used the card – notify the bank immediately. They will start an investigation, and in some cases, the amount may be refunded.

Can money be recovered if it was already withdrawn?

If you notice transactions and immediately inform the bank, they are obligated to initiate an investigation. In the case of confirmed fraud, the amount may be refunded.

To keep the situation under control, set a minimum threshold for SMS notifications in advance, for example, from AMD 1,000. Many set a limit of AMD 10,000 or higher, and then notifications for small transactions simply don't come through. Yet, precisely these small operations can be unnoticed but significant, especially if the card was lost or used without your knowledge. This way, you'll immediately learn about any suspicious activity and can react in time.

The limit can be set on the day of application and can be changed. For some cards, such as those from Evocabank or IDBank, these notifications are free – which is convenient and secure.

3. Order a New Card

This can be done online – via the website or mobile application.

Some banks, like Ameriabank or Evocabank, instantly issue a virtual card that can be used within minutes. The physical plastic card is then delivered by courier.

4. Update Auto-Payments

If the card was linked to subscriptions, utility bills, or online stores – don't forget to update the payment details. This will protect you from accidental overdue payments and failed transactions.

Here's the translation of the final segment, maintaining the original formatting and focusing on practical advice for an English-speaking audience, using relevant financial and tech terms:

What to Do If Your Phone is Lost Along with Your Card?

In this situation, it's crucial to act especially fast. First, try to remotely lock your smartphone via iCloud (for iPhone) or Google (for Android) – this will disable access to banking applications.

Then, call your bank from any available phone (a relative's, work, or landline) and ask them to block your card. It's also advisable to disable online banking to prevent unauthorized access. If you have a backup card, use it until you can restore access.

Useful Tips to Avoid Losing Your Card and Getting into a Difficult Situation

These simple steps will help you protect yourself in advance – even if your card suddenly goes missing, you'll be prepared:

1. Add your card to Apple Pay or Google Pay – this allows you to pay with your phone even without the physical card, and the physical card itself can be quickly blocked if lost. It's safer: payments on your phone are protected by Face ID or a passcode, whereas a lost card can be used for purchases without a PIN.
2. Protect your phone and banking app with a passcode and Face ID to prevent unauthorized access to your money.
3. Set limits for withdrawals and purchases – this will limit potential damage if the card falls into the wrong hands.
4. Save your bank's support number to avoid wasting time searching in an emergency. However, if your card is lost with your phone, you can ask someone nearby for their phone, find the bank's number online, and call.
5. Enable push notifications for spending – this way, you'll immediately notice suspicious transactions.
6. Keep a backup card, especially when traveling or if you frequently make online payments.

Find a New Card on AFM

If you do lose your card, it's crucial not only to quickly block the old one but also to promptly get a new one to continue accessing your money without interruption.

This is where AFM comes in handy – the first financial marketplace in Armenia, where you can:

1. compare conditions for all bank cards,
2. learn about hidden fees,
3. and apply for a new card online – quickly, conveniently, and without overpaying.

Here, it's easy to find a replacement: with free maintenance, cashback, or instant issuance — tailored to your goals and lifestyle.

Save this article and share it with friends – so they'll be prepared if something goes wrong.