Lost Wallet? Here Are 6 Things to Do Right Away

I know the sinking feeling.

I was at a business conference the first time I lost my cherished Black Trifold Wallet. 

I still remember the panic that set in. Much like you, my first thought was to find it. 

I looked everywhere—my back pocket, front shirt pocket, tote bag, and even in my toiletry bag, all to no avail.

Then, I began backtracking. Did I leave it in my hotel room? At the restaurant? In the car? 

It dawned on me just what I potentially stood to lose: a couple of bookstore and restaurant loyalty programs, my driver’s license, three credit cards, a gym membership card, a debit card, and some cash.

After enduring hours of panic, I eventually found it, nestled within my jacket’s inner pocket—apparently the last place I had thought of checking.

If you’re in the same situation, rest assured, I understand the frustration it brings.

While it might initially seem like the end of the world, you can still protect your information, recover important documents, or better yet, find your lost wallet, just like I did.

In today’s article, I’ve put together six steps to take in case your wallet goes missing.

You’ll discover:

• How a wallet tracker can help you to quickly locate your lost wallet
• The importance of swiftly alerting your bank following a wallet loss
• Different ways to contact a credit bureau for initiating a credit freeze
• Measures to protect your wallet against future losses

So let’s get into it.

True to this, you may have inadvertently slipped your wallet into a pair of pants that’s now neatly folded in your closet. 

So make sure to thoroughly check all possible areas where your wallet might be in.

Remove your seat cushions to check if it slipped inside. Search your car to ensure it didn’t fall on the floor.

And if you happen to have a tracking device, knowing your wallet’s whereabouts becomes even easier. 

After my own near-miss, I decided to invest in an Apple AirTag, which I’ve securely attached to my wallet. It effortlessly connects to my iPhone via Bluetooth, using a UI chip. 

In case my wallet goes missing, I can quickly locate it by opening the FindMy app and checking the “Connected Items” tab. My wallet’s current location will remain displayed on my device as long as it’s within 800 feet.

While it may seem like a hefty investment, an AirTag can be a lifesaver for your wallet. In case you lose it, you can always recover it quickly. 

Check out how the we make our AirTag cases in the Instagram Reel below:

Canceling your cards will permanently deactivate them and your bank will issue you a replacement card that has a new number. 

To contact your bank, simply log into the bank’s website. You should find a number that’s specifically used for reporting stolen or lost cards.

Below are the numbers for some of the top banks to report your lost card: 

• Bank of America: 1-800-432-1000  
• JP Morgan Chase: 1-800-935-9935
• Citibank: 1-800-950-5114
• Wells Fargo: 1-800-869-3557
• PNC Bank: 1-888-762-2265
• Royal Bank of Canada (RBC): 1-800-769-2512
• Toronto-Dominion Bank (TD Bank): 1-866-222-3456
• Bank of Montreal (BMO): 1-800-361-3361
• CIBC (Canadian Imperial Bank of Commerce): 1-800-663-4575

Oftentimes, it can be frustrating to cancel your credit or debit cards only to find your wallet later. 

That’s why some banks allow you to temporarily lock your cards and then unlock them when you recover your lost wallet.

Usually, you don’t even need to have a bank representative to make this happen. 

Most banks, including the Bank of America, Chase, Citibank, RBC, TD, and CIBC allow you to do so using their banking applications or online banking portals.

You can also contact the three bureaus to place a Potential Fraud Alert on your credit file, at no extra cost. This will help to prevent scammers from hurting your score or opening new accounts in your name.

Below are their contact details: 

• Equifax: 1-800-525-6285
• Experian: 1-888-397-3742
• TransUnion: 1-800-680-7289

But as I mentioned earlier, you won’t be able to access your credit report or apply for loans until you’ve unfrozen your account.

Luckily, the unfreezing process is pretty straightforward; it will take you only a few minutes and can be done entirely online.

To begin, you’ll need to contact each of the three credit bureaus individually. You can then choose your preferred method for unfreezing your credit.

This can be done online through the bureau’s portal, by calling a phone number dedicated for freezing, or by submitting your request via mail, although this last option often takes the longest.

Alerting your Local Department of Motor Vehicles (DMV) after losing your wallet can help prevent identity fraud and protect your driving record because using your license for traffic violations can have negative effects on it.

Keep in mind that each state demands different requirements for proving your identity.

Therefore, before you apply for a new driver’s license, go to your local DMV’s website and check the specific documents required to establish your identity. 

Furthermore, you’ll need to issue proof of your residency, so make sure you have documents such as your birth certificate, Social Security number, and utility bills like a recent electricity bill or current cell phone bill, all bearing your name and address.

Keep in mind that the DMV office will charge a small fee to replace your license. This fee varies from state to state, though it typically ranges from $10–$30, with some states charging more or less.

To get the most accurate information on the replacement of your license, visit the official website of your DMV or contact your local DMV office directly.

Even if you don’t suspect that your lost wallet is stolen, it’s always advisable to visit your local police department and file a police report to indicate that your wallet is missing. 

Here’s why:

• A police report will come in handy when filing an insurance claim for your valuables that were lost alongside your wallet. It acts as official documentation of the event.
• With a police report, you can prove that you’re a victim of crime in case your lost wallet is used for illegal activities like financial scams, fraud, or identity theft.
• A report file with your information will come handy in your wallet’s recovery if someone finds it and brings it to the police.
• After filing a police report, you’ll receive a case number and documentation to show your bank or creditors as proof in case you experience fraud.  

Failure to file a police report may cost you a lot since your creditors may not believe that you’re a victim of fraud.

And sometimes, creditors request for an Identity Theft Affidavit from the Federal Trade Commission (FTC), which you cannot be eligible for without a police report.

Losing a wallet and all its content can be frustrating, time-consuming, and a potential threat to your financial security. 

Luckily, there are precautions you can take now to reduce the chances of it occurring again.

And at the very least, you’ll manage to rebound quicker.

Consider taking the following steps before leaving home with your beloved wallet: 

Only have the items that you really need and frequently use in your wallet. 

You can leave important identifying documents like your birth certificate, passport, and Social Security cards at home if you rarely use them.

Invest in a secure wallet such as the Popov Leather Biker Wallet or Long Wallet.

Both wallets have a solid chain that can be attached to your belt or clothing. This way, it will be difficult to lose your wallet or for someone to snatch it.

Check out the key differences between the Biker Wallet and the Long Wallet below to find the most suitable for you: 

Make copies of important content in your wallet such as your insurance cards, IDs, and credit cards. 

Keep these copies in a secure place at home so you can have a record of all that was in your wallet in case you lose it or misplace it.

Periodically (at least once a month) clean out your wallet to eliminate items you don’t need anymore. This will reduce clutter and minimize the potential loss if your wallet goes missing.

Invest in an RFID blocking card such as the Wallet Gauntlet that will safeguard your credit card and personal data against electronic theft. 

The card blocks signals that hackers might use to scan your cards without physically stealing your wallet.

I mentioned my Apple AirTag, but there are all types of trackers in the market, from standalone products like Cube and Tile to Samsung’s device-connected trackers. Simply research diligently to find the best one for your needs and budget.

A wallet loss can be a huge inconvenience. But as long as you act swiftly, you can prevent major financial losses and protect your personal information from potential identity theft.

By taking one step at a time, your life will be back to normal before you know it.