If a customer loses their ATM card, will they lose money?

Bank ATM cards are practically indispensable for most people when they leave home. However, many people accidentally lose them during use. So, will losing an ATM card result in losing money, and what are the best ways to handle this to protect your assets?

If I lose my ATM card, will I lose my money?

In reality, when you lose your ATM card, the money in your account remains. Only in the worst-case scenario, if someone finds your ATM card and knows your PIN before you block it, can a thief steal the money from your account.

What should I do if I lose my ATM card?

Customers should block their ATM card immediately upon discovering it is lost. (Illustrative image)

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Female teacher returns nearly 80 million VND she found to its owner.(Baothanhhoa.vn) - While withdrawing money at an ATM of the Vietnam Investment and Development Bank (BIDV) in sub-district 6, Tinh Gia ward, Ms. Le Thi Huyen, a teacher at Tinh Gia 1 High School, discovered a large sum of money in the ATM's tray. Suspecting it might be money someone had withdrawn and left behind, Ms. Huyen immediately reported the incident to the police and sought to return the money to its owner.

The number of magnetic stripe cards issued has dropped to only 7% of the total number of cards issued by the group of 4 major banks in Hai Duong.According to aggregated data from the banks, magnetic stripe cards now account for only 7% of the total number of cards issued by the Big 4 banks in Hai Duong.

From July 1, 2025: Transactions using ATM cards with magnetic strips will be discontinued.If the back of the card has a black magnetic strip but no integrated chip on the front, users should contact their bank as soon as possible to switch to a domestic chip card.

Upon discovering a lost ATM card, users must immediately block the card through the bank's app or call the card-issuing bank's customer support hotline, requesting them to temporarily block the ATM card. Once the card is blocked, anyone who finds it, even if they know the password, will not be able to transfer or withdraw money.

If the bank does not provide support over the phone, the cardholder needs to go directly to the nearest bank branch to report the issue and have the card reissued if necessary.

In addition, users can lock their cards at ATMs. Some banks have integrated the feature to lock cards at ATMs, which customers can do by scanning a QR code.

If an ATM card is lost, customers can still withdraw money normally by bringing their citizen identification card to a bank branch. In addition, some banks allow withdrawals at modern ATMs using QR code scanning, OTP (One-Time Password) on their phones, etc.

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