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Many a time we get troubled when we lose anything significant like a prepaid card, debit card or even gift card. The first fear that comes to our mind is losing all the money that the card holds. To make sure that no money should get debited from it, you must do certain things. What are the steps that you should take during gift card lost, let’s know about it?

lost gift card

The first and foremost thing is informing the bank about it. You can go to the bank branch for reporting of the gift card lost. You can also report to the bank by calling its customer care helpline. The bank’s customer service helpline is available for its customer’s assistance round-the-clock throughout the week. While reporting to the bank about it, you must equip with all the essential information related to the card. Like you have to mention the card owner name, its number, the amount assigned to it and all the earlier transaction made from it. So, it is essential to keep this information of every gift card you purchase with you.

Policy for checking unauthorized transactions and refunding money

If your card gets stolen and money transacted from it, then you can ask for a refund in many bank gift cards. These banks made such policy so that their customer won’t have to pay for the unauthorized transaction. But, you have to abide by the bank rules to get the refund money. For that purpose, you should actively inform the bank if any unauthorized transaction occurred from your card. They will ensure that no further misuse of the card takes place. They will deactivate the card so that it won’t get used by any individual. In case you fail to provide information regarding the transaction date and other details regarding it in the given duration, you will not get any refund.

Taking about its refund policy, you will not get any refund in other cases like when the card validity is over. You should keep a check on the card’s validity. Try to use up your cards amount within the expiry date. If you fail to do and the validity expires, the money in the card not redeemed to you. However, some of the banks can be an exception to this rule. These banks will handover remaining card balance but for that, they will charge some fees.

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