We have embraced plastic money and are using debit cards and credit cards for all kinds of transactions. It does make life easier as we don’t have to carry around a wallet full of notes in different denominations.
But what happens if you lose your debit card? Can you protect your money if you have misplaced your card?
Read on to know about this.
If you were searching for ‘what is debit card hotlisting means’ or ‘hotlist debit card meaning’, you are at the right place.
Debit card hotlisting means that the card is permanently blocked. The need for this usually arises when someone loses or misplaces their card. Hotlisted cards cannot be used for transactions any more.
If you misplace your debit card or it happens to get stolen, you need to inform your bank branch immediately. Banks are liable to hotlist your card so that you can be saved from any financial fraud or theft.
Once a card is hotlisted, you will need to apply for a new card and the bank may charge a minimal amount for the replacement.
There are many ways to hotlist your debit card-
You can easily use your bank’s mobile app to hotlist your card and apply for a new one
You can easily request the officials at your bank branch to hotlist your card. You can also request a form for a new card, fill it up, and submit it immediately.
Most banks have a Toll-free or customer service number for such urgent requests
Many banks also allow their customers to hotlist their card by sending an SMS to a particular number
Nowadays internet banking is used for all kinds of banking services. Most banks allow their customers to hotlist as well as order for a new card through netbanking
If your card has been stolen or you have lost it, make sure to inform your bank at the earliest. The bank is required to protect your account and money from any fraud or theft and to do so, the bank will swiftly hotlist your card.
You can then apply for a new card, which will be delivered to you in 2-3 working days, depending on your bank.
If you were searching for ‘debit card hotlisting means’, it just means that the card is blocked on request and that no further transactions can be made using that card.
If your card has been stolen or you have misplaced it, you can request your bank to hotlist your debit card. In most cases, banks take less than a few hours to hotlist a card.
No, banks have a liability to protect their customers from any frauds or thefts. Thus once you request the bank to hotlist your card, they do not charge any fee for the same. But banks will charge a nominal fee to issue a new card.
Yes, it is the same. Both mean that the card will not be useful for any more future transactions. Hotlisting, however, means that the card is permanently blocked and cannot be used again.
No, a hotlisted card cannot be used anymore. You will have to apply for a new card.
Yes, hotlisting is permanent. You will be issued a new card in its place in a few days.
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