Q:

What banks offer free replacements for lost debit cards?

A:

Quick Answer

Banks that provide free replacements for lost debit cards include USAA, HSBC, Capital One and Wells Fargo. Account holders can expect to receive replacement debit cards within five to 10 business days via standard mail delivery.

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What banks offer free replacements for lost debit cards?
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Full Answer

Many banks offer rush delivery services for replacement debit cards. For an additional fee, USAA offers overnight delivery services, while HSBC offers free rush delivery services, which can take up to three business days. Capital One replaces lost debit cards immediately to account holders who visit local bank branches. The bank also offers free rush delivery services, which can take up to three business days. Wells Fargo only provides rush services in extreme cases, such as an otherwise stranded traveler.

To prevent the unauthorized use of lost or stolen debit cards, account holders must contact their banks as soon as possible. According to the Electronic Fund Transfer Act, if an account holder reports a lost or stolen debit card before an unauthorized transaction occurs, the account holder will not be held liable for any subsequent unauthorized transactions.

However, if an account holder fails to report a lost or stolen debit card within two days after an unauthorized transaction occurs, the account holder is liable for up to $50. An account holder is also liable for up to $500 if they fail to report a lost or stolen debit card within 60 days of receiving their bank statement.

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