A debit card allows you to directly use the funds in your bank account to conduct purchases. You can use your debit cards for years before the expiration date arrives. As expiration approaches or a card is lost or stolen, you may ask whether your debit card number will change. You may also wonder how a new debit card will affect your debit cards Personal Identification Number or PIN.
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Get familiar with your card’s security features
Reviewing your debit card’s security features might give you more confidence in the safety of your bank account — and you might find that some cards have more security features than you want.
Although there are other ways to withdraw money, a convenient way is at an ATM with a debit card PIN. The card alone, in most cases, is insufficient. The PIN is not printed anywhere on the card. Some cards come with an auto-blocking feature that prevents transactions after three consecutive failed attempts at providing the correct debit card PIN.
Typically, you can unblock the card by contacting the number on the back of it. You may also be able to block your debit card by calling the number on the back of the card. Many debit cards also come with a per-day transaction limit.
What happens if your card is lost or stolen?
If your debit card is lost or stolen, report the theft immediately and follow these specific steps:
- Follow what the Account Agreement or Cardholder Agreement says about a lost/stolen card.
- Contact the number stated in the agreement as soon as you are aware that you lost the card.
A thief can use your debit card on purchases. If that thief also obtains your debit card PIN, they will be able to withdraw funds directly from your account using an ATM or as a cash back transaction after they make a purchase at a store.
While the PIN is not printed or embossed on your debit card, some people mistakenly write their PIN on a piece of paper in their wallet or purse. This practice may violate the terms you agreed to when you obtained the card — and it gives a thief easy access to your funds if they access the PIN.
In many cases, you can go to the company’s web page or mobile app to cancel or block your card. All debit cards also come with a customer service number. If you have your debit card, it is a good idea to write this number on a piece of paper and keep it in your house. Keeping the customer service number handy might help you in case of an emergency.
How does debit card fraud affect me?
If a thief steals your debit card, do not expect them to give you a break. Some thieves could spend thousands of dollars before the debit card is reported lost or stolen.
You can file a notice of fraudulent transactions in hopes of recovering your money. Contact the customer service number listed in the Agreement immediately after you notice the card is lost or stolen, or you notice unauthorized transactions. Follow the process outlined in the card Agreement or Account Agreement.
However, depending on whether you followed the process outlined in the Agreement, you may not recover all the money that was taken from your account.
Debit card protection with RoarMoneySM
We are always ready to assist you with the security and safety of your MoneyLion Debit Mastercard®, but you should know what will happen if you lose your card or need a replacement.
Should I request a new card if I lose my debit card?
Yes. If you lose your debit card, it could be in the wrong hands.
Contact customer service immediately to block the card and prevent fraudulent transactions from being made. You can order a replacement at the same time. As the Agreement states, “TELL US AT ONCE if you believe your access device was lost or stolen or an EFT has been made without your permission.” Rest assured knowing you can lock/unlock your card in the MoneyLion app at any time.
Can you choose the same PIN on multiple cards?
If you have the ability to pick a PIN of your choice, you can use the same debit card PIN across multiple cards. However, it is not a good idea to do this. If a thief steals one of your cards and guesses the PIN, they would then also know the PIN for your additional cards that were stolen. Utilizing a different debit card PIN for each card will increase safety.
Is my personal information secure?
Your personal information is secure with MoneyLion. We use encryption technology to protect your personal information. Our global security team monitors the MoneyLion ecosystem for security threats 24/7, allowing us to spot bad actors quickly.
How to get a new debit card
We make it easy to replace a debit card. Open the app, go to the account section, and select RoarMoney. Then, click on the RoarMoney Cards tab, hover over the card you want to replace, and press Replace Card. We can only send you a new card if your address is the same one we have in our records, so update that whenever you move. And if you are replacing a lost card, remember to call customer service immediately.
You don’t need to wait for your card to arrive in the mail to start using your new RoarMoney account. As soon as you sign up, you can activate your RoarMoney virtual card and set a PIN by calling our automated activation line. Then you can use the virtual card to shop online, by phone, and everywhere that accepts mobile pay after adding funds into your RoarMoney account.
When will the new card arrive?
The new card will typically arrive within 7 to 10 business days.* If you do not receive your new debit card after the 10th business day, check to ensure you provided the correct address. It is best to check the address on file before requesting a new card.
You can immediately use your RoarMoney virtual card after you fund your account and before the MoneyLion Debit Mastercard arrives in the mail. After funding the account, MoneyLion provides an instant virtual debit card to help you pay for expenses. You can find your virtual debit card in the Accounts tab on the MoneyLion app.
Will I need to update my PIN?
When you receive a new MoneyLion Debit Mastercard, you will need to update your PIN. You can change your debit card PIN in the MoneyLion app or by calling the automated support line at 1-801-252-4427. The automated support line will provide you with prompts as guidance.
What can I do to help protect my account from fraud?
Here are steps you can take to help protect your account from fraud:
- Do not share your PIN or debit card information with anyone, and keep your physical cards in a safe place.
- Block your card in the MoneyLion app if necessary.
- Use reputable websites when making purchases.
Some scammers create fake websites, also known as phishing or spoofing, designed to steal debit card information. If you are not using a well-known site, check the URL and do some research to make sure it is legitimate.
Check out the RoarMoney virtual debit card
You can add your RoarMoney virtual debit card to your phone’s digital wallet to pay touch-free anywhere that accepts mobile pay. And you can replace your virtual card anytime, almost instantly. It also comes with other perks.
You can receive cash back on qualifying purchases through our Shake ‘N’ Bank program, as long as you have an open and active Investment Account, where the cash back is deposited. With Mastercard Price Protection, you can request a refund up to $250 if the price drops on your purchase within 90 days.1
MoneyLion is ready to help you bolster your finances. Join RoarMoney to get our virtual debit card today.