More credits cards lost or stolen in Australia, study shows

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HADING the city this weekend or kicking up on a holiday often results in the Australians losing their debit or credit card, a new investigation has revealed.

Alarming new research from the country's largest lender, the Commonwealth Bank, found that more than 689,000 customers in the past 12 months have reported a card that either lost or stolen.

And the Australians between 31 and 40 years are the worst offenders who make up the majority of the 1890s that disappear everyday.

Some people may think that downing a pair of too many glasses of Sauvignon Blanc or beer pin can be the cause of wallets and lost pieces of plastic that go through, but the most common day to report a short missing is actually Tuesday.

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CBA CEO of Digital Pete Steel said Cardholders may spend days chasing their cards before deciding to call their bank and cancel it.

"The more we use our card, the more likely we are by accident to leave them," he said.

"Just a couple of years ago we wanted to pay cash for public transport, lunches and our daily coffee."

"Now we use our card for all purchases big and small."

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The CBA rolled out a lock, block and border feature on its smartphone app so customers could quickly put a temporary lock on a missed card while walking on a

The figures show Over the past year, more than 80,000 customers have used this app feature, and the 25 percent have quit their function when they were reunited with their cards.

The Australian Banking Managing Director Diane Tate encourages customers to contact their bank immediately, if they misplace their card.

"This will allow your bank to immediately stop your card so nobody else can use it and access your money, "case they are.

"Most banks have a 24-phone number for reporting lost cards – it's a good idea to keep track of this number at all times, just in case. "

She also said many banks would allow customers to put a stop on their cards online or use the bank's app to do this at any time.

" After you've stopped your card, check your statements to ensure that there are no unauthorized transactions, "asked Ms Tate.

Some banks also allow customers to be issued with a new card and use it before receiving the physical card in the mail.

Depending on The bank's capabilities can sometimes transfer the new card details so that the customer can upload this information in their digital wallet and be able to make transactions immediately.

Mr Steel said customers sometimes have to wait up to seven business days for a new cards must arrive, depending on where they live.

sophie.elsworth@news.com.au

@ sophieelsworth

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