Never Lose Your Wallet Again: Tips And Tricks For Quick Recovery

If you realize your wallet has gone missing, the first thing you should do is take some deep breaths to prevent yourself from panicking. Take a moment to gather your thoughts and follow these steps:

Re-Trace Your Steps And Check In With The Last Place You Used It

Do you recall the last time you pulled your wallet out? Were you just at a gas station? Grocery store? Restaurant? Did you have it when you left the house? Did it fall between the seat and center console in your car? If you were at a store, you can either go back to it or call them and inquire.

Make A Detailed List Of Everything You Had Inside Your Wallet

If you can't find your wallet, start making a list of all the items you remember that were inside of it. This includes:

• Government issued cards such as a driver's license and health care card

• Insurance card

• Credit/debit cards

• Loyalty/membership/reward cards

• Gift cards

• Cash

Contact Your Bank(s) And Lock All Your Cards

If you cannot find your wallet, call your banks and lock all your cards. Freeze your accounts to prevent anyone from charging them. Many modern debit and credit cards have a tap feature that allows transactions up to a certain dollar amount to be made without entering a PIN. Locking and freezing your accounts prevents anyone from making tap transactions.

If you notice a transaction on your account that you did not make, let the bank know and they can start an investigation. Depending on the bank, you may receive a refund within a few days, even if you recover your lost wallet and debit/credit cards.

Even if you recover your wallet, it is still wise to change your bank card numbers and PINs as someone may have taken pictures of the cards and plan to use them for online purchases at a later time.

It could be days, weeks, or even months before they make an online purchase with your card. You may not even notice the transaction if you don't review your accounts on a regular basis.

Closely Monitor Your Bank Accounts For Any Unusual Activity And Transactions

Keep a close eye on your bank accounts and note any unusual transaction. Check every few hours, even after your account has been frozen, to ensure no one has taken any money out or used your cards. Even if you phone the bank right away, it may take some time for a transaction to come through and be reflected on our account (especially if it was online).

Register For Fraud Alerts

Many banks offer free notifications for fraud alerts. If you have an online banking account, you may already be signed up for these alerts. These alerts are sent via email or SMS text message and can be triggered by suspicious activities including:

• Attempted purchases above your daily limit

• Attempted purchases made in quick succession

• Attempted purchases in a different country or multiple attempts in different geographical areas

If you do receive a fraud alert from your bank, be sure to verify that it is the bank and not a scammer. Bank text scams are becoming increasingly popular and harder to differentiate from legitimate fraud alerts. If you are unsure if it is legitimate or not, contact your bank directly. 

Remember: if a bank calls you, they will never ask you for personal information, account numbers, or passwords.

Change Your Passwords And PINs For Online Accounts

If you have online accounts linked to your credit and debit cards, like Amazon, PayPal or Shopify, change the passwords immediately. Many people forget that their cards are linked to that website. There are ways for scammers to get into your accounts and begin making purchases or transferring money into other accounts.

You can also contact the companies directly and request that your accounts be temporarily deactivated or frozen until you relocate your wallet or get new cards.

File A Police Report Within 24 Hours

You can file a police report by either calling the non-emergency line, going to the local jurisdictions' website, or going in to your local police station. Filing a report will protect you from any identity theft and establish a record with the police which can aide you in finding your wallet.

Some jurisdictions may also offer to waive any replacement card fees with proof of a police file.

Helpful Tips On How To Prevent Your Wallet From Going Missing: 

There are certain steps you can take to prevent your wallet from going missing and helping you locate it if it does. Here are just a few ideas:

Put Your Wallet In A Pocket That Can Be Zipped Up 

If you are someone who enjoys outdoor activities like ATVing, cycling, hiking, or skiing, consider putting your wallet in a pocket that has a zipper on it. This ensures that no matter how much you move around; your wallet won't fly out of your pocket. Alternatively, you could also place your wallet in your backpack or any other type of secure travel bag.

Move Your Wallet To Your Front Pocket

Not only does moving your wallet to your front pocket greatly reduce posture and spine problems, it also makes it much harder for pick-pocketers to steal. Front pockets are generally tighter than back pockets and you'd likely see and/or feel someone reaching into your front pockets. If you are traveling to another country and want to protect yourself from pickpockets, check out this helpful guide from Rick Steves.

Use A Tracking Device Like An Apple Air Tag

Tracking devices, like Apple Air Tags, can be placed inside your wallet. They are considerably slim so they won't stick out or case any big bumps or lumps on your wallet. You can then sync it to your phone and see its location in real time. This can be very helpful if you misplaced your wallet.

Be very careful as tracking it down to someone's house can be dangerous. If you find yourself in this situation, contact the police.

Use A Phone Wallet Instead

People are divided on the practicality of phone wallets. On one hand, you don't need to have a separate phone case and wallet as everything is in one place. On the other hand, if you lose it, you've lost two important items containing sensitive information.

Being optimistic, and in a perfect world, if you do happen to lose your phone wallet, you can use apps like Google Find My Device for Android or Find Devices for iPhones to quickly locate them. These apps do require accounts and registration, so sign up if you haven't already.

Summary

Losing your wallet is a terrifying experience. We hope the tips listed in this guide will assist you in finding your wallet if you lost it and help prevent you from losing it in the future. It can take mere seconds for someone to pick up a lost wallet and use a card, so always be attentive whenever you are travelling with it on you.

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