Besides reporting the lost or stolen debit card, you should also report the loss or theft of any electronic devices that are linked to your Wells Fargo debit card.

Request a Replacement Card

The next step is to request a replacement card via the Wells Fargo Online^® portal or Wells Fargo Mobile^® app. You can also visit the dedicated ReplaceMyCard page to request a new card. The steps involved in this process are as follows:

1. Visit one of the links mentioned above or open the Wells Fargo Online^® app 
2. Enter your username and password to sign in
3. Choose the account linked to the lost debit card
4. Click View More Services on the right-hand menu and choose Replace My Card
5. Choose the lost or stolen card number option, select the reason for replacement, and hit Continue
6. Review the shipping details, specify the delivery method, and click Confirm to submit the application

You can also request a replacement Wells Fargo debit card by calling the phone numbers listed above. The new card will typically arrive by mail within 5–7 calendar days.

Update the Billing Information for Recurring Payments

Once your Wells Fargo debit card is frozen, all subsequent charges to the card will be automatically declined. However, it is important to note that if you have set up recurring payments on your debit card, such as for bills and subscriptions, the declined charges may lead to late payment penalties. To avoid this, you must update the billing information as soon as you receive your replacement card. You can do so by:

1. Signing into the linked accounts
2. Navigating to the billing section
3. Removing the lost/stolen card data
4. Adding the replacement card details, i.e., card number, CVC, and expiration date

Wells Fargo Lost or Stolen Debit Card Consumer Liabilities

Since lost or stolen debit cards can lead to unauthorized use, most consumer debit card users are protected in case of fraudulent purchases by the Electronic Funds Transfer Act. The law implies a user’s liability for unauthorized purchases on a lost or stolen debit card. The table below offers additional liability details set forth by this law:

Regardless of the law, most consumer debit card issuers have a zero-liability policy that states users are not responsible for any fraudulent charges on their lost or stolen debit cards. 

Wells Fargo offers similar protection to debit cardholders, waiving all liabilities if the loss or theft is reported within 60 days after receiving a bank statement showing a fraudulent transaction has taken place^[1].

Tips for Protecting Your Debit Card and Bank Account Data

A lost or stolen debit card can cause a significant amount of stress, even when consumer protection is provided. The process of disputing fraudulent charges on your debit card can be long and tedious, which can leave quite an emotional toll on you. Even when you replace the compromised debit card, it is still advised to monitor your bank statements and ensure the unauthorized user hasn’t figured out a way to access your bank account (in case your bank closed the debit card but left the bank account open).

Preventing the physical loss or theft of your debit card does not necessarily imply that your funds are entirely safe. In 2023, card-not-present fraud accounted for 73% of the total card payment loss, proving that fraudsters have other means of stealing consumers’ financial information, such as phishing, public Wi-Fi hacks, or online data breaches. 

For this reason, you should employ various security measures to protect your card and bank account data from becoming compromised in the first place. You can learn more about some of these protection tactics in the following sections.

Enabling Two-Factor Authentication (2FA) To Protect Your Bank Account

This safety feature enables you to secure your online accounts with an additional verification method besides a password, preventing hackers from accessing your bank account even if they figure out your login credentials.

Avoiding Public Wi-Fi Networks When Online Shopping

Hackers may use man-in-the-middle attacks to intercept and steal data traveling over public Wi-Fi, including the debit card number you use to pay for online transactions.

Shopping at Reliable Online Merchants

You should only shop at websites featuring a “https://” prefix in the URL, signifying a safe connection between your browser and the merchant’s website.

Using Virtual Cards

Virtual cards mask your real card and bank account information during online transactions, protecting it from getting stolen in case of an online data breach on merchants’ servers. Independent virtual card providers, such as Privacy, offer strong security and comprehensive control and customization options for a safe and seamless online shopping experience.

How Do Privacy Virtual Cards Ensure Safe Online Transactions?

Each Privacy Virtual Card has a unique 16-digit card number, CVC code, and expiration date, and you can use it for online purchases as you would a regular debit card. While it is connected to your real debit card or bank account, it masks that information during online transactions. If a hacker manages to access the merchant’s server, they will only see your virtual card data, while your real card and bank details will remain confidential. 

You can generate two types of Privacy Virtual Cards:

• Merchant-Locked Cards–lock to the first merchant you purchase at, ensuring that potential hackers can’t use them elsewhere. 
• Single-Use Cards–close shortly after the first transaction, making them useless to potential hackers.

Privacy is PCI-DSS compliant and implements the same robust security measures as any reliable bank. The company holds a Better Business Bureau^® (BBB) accreditation and commits to transparent business practices.

Privacy’s Additional Features for a Superb Online Shopping Experience 

Besides protecting your financial information, Privacy ensures seamless online transactions with the following features:

• Customizable spending limits—You can set spending limits on each Privacy Card to prevent overcharging attempts from merchants and keep your budget under control.
• Browser extension—Privacy browser extension for Chrome, Safari, Edge, and Firefox accelerate checkout time during online purchases by autofilling your virtual card numbers in the checkout fields. If you want to checkout seamlessly on your iPhone and iPad, you can leverage the Safari extension for iOS devices.
• Pausing/unpausing and closing virtual cards—You can pause or close Privacy Virtual Cards instantly without it affecting your real debit card and bank account. This feature is beneficial for preventing unwanted subscription charges as Privacy will decline them once you pause or close your virtual card.
• Mobile app—Privacy’s Android and iOS app allows you to create and use virtual cards on the go. The push notifications can alert you whenever your virtual card has been used or declined, enabling you to track your account activity in real time.

How To Sign Up for Privacy

U.S. residents over the age of 18 with a checking account at a U.S. bank or credit union can sign up for Privacy Cards. Follow the steps below to get started: 

1. Register
2. Provide the mandatory Know-Your-Customer (KYC) details
3. Add a funding source, i.e., a checking account or a debit card
4. Request and generate your first Privacy Card

Privacy offers three pricing plans. The Personal plan is free for domestic use and offers up to 12 new virtual cards a month, spending limits, the closing/pausing virtual cards feature, and access to mobile apps. 

The Pro and Premium plans feature additional benefits such as:

• Up to 36 and 60 virtual cards per month, respectively
• 1% cashback on eligible purchases totaling up to $4,500 per month
• No foreign transaction fees
• Priority support

References

^[1] Wells Fargo, https://www.wellsfargo.com/debit-card/terms-and-conditions/, sourced on September, 2023