What to Do If Your Purse or Wallet Is Lost or Stolen

Home Blog What to Do If Your Purse or Wallet Is Lost or Stolen

Posted On: February 10, 2025 by Peoples Bank of Kankakee County in: Cybersecurity

Losing your purse or wallet can be a stressful and overwhelming experience. Beyond the inconvenience, it’s a treasure trove of information that could be exploited by identity thieves. Acting quickly is essential to minimize the risk of fraud or identity theft. Once you have turned off your Peoples Bank debit card in your mobile app, here's a checklist of steps to take if your purse or wallet is lost or stolen:

Step 1: File a Police Report

Start by reporting the loss to your local police department. Request a copy of the report for your records. This document can be helpful when disputing unauthorized charges or addressing potential identity theft with credit reporting agencies or financial institutions.

Step 2: Report Your Lost or Stolen Debit Card

Contact Peoples Bank immediately to report the missing card:

Customer Care Department: 815-936-7600
After Hours Assistance: 800-554-8969

By reporting your lost or stolen debit card right away, you can prevent unauthorized transactions and protect your accounts.

Step 3: Notify Your Bank and Credit Card Providers

Reach out to your financial institutions to report the loss of any debit or credit cards. They can freeze your accounts, issue new cards, and monitor for suspicious activity.

Step 4: Contact the Major Credit Reporting Agencies

Inform the major credit bureaus about the situation to protect your credit profile. Request a fraud alert to be placed on your accounts, which will make it harder for anyone to open accounts in your name.

Here are the numbers to call:

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

Additionally, review your credit reports regularly for any unauthorized activity.

Step 5: Report a Missing Driver’s License

If your driver’s license was in your wallet, notify your local Department of Motor Vehicles (DMV) as soon as possible. They can issue you a replacement and flag your old license to prevent misuse.

Step 6: Secure Your Home and Vehicle

If your keys were also lost or stolen, it’s important to take steps to protect your property. Change the locks on your home and vehicle to ensure they remain secure.

Stay Vigilant

Even after you’ve taken these steps, keep a close eye on your financial accounts and credit reports for any signs of unauthorized activity. Acting quickly and staying proactive can help you mitigate the risks associated with a lost or stolen wallet.

At Peoples Bank, we’re here to support you. If you have any questions or concerns, don’t hesitate to contact our team for assistance.

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:

We have standard overdraft practices that are available after your account has been open for 30 days and as long as you maintain your account in good standing.
We also offer an overdraft protection plan, Overdraft Protection Sweep, a link to a savings account. It may be less expensive than our standard overdraft practices. To learn more, ask us about this plan.

This notice explains our standard overdraft practices.

What are the standard overdraft practices that come with my account?

After your account has been open for 30 days and as long as you maintain your account in good standing, we do authorize and pay overdrafts for the following types of transactions:

Checks and other transactions made using your checking account number
Automatic bill payments

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

ATM transactions
Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

If we do not authorize and pay an overdraft, your transaction will be declined.

What fees will I be charged if Peoples Bank of Kankakee County pays my overdraft?

Under our standard overdraft practices:

We will charge you a fee of up to $30 each time we pay an overdraft.
The maximum daily overdraft fee per presentment or item paid using the Overdraft Reserve Program is $150.00 per day.
No per item handling fee will be charged on de minimis overdrafts. De minimis overdraft for this policy means transactions that overdraw your account by $30 or less.
There is an overdraft fee of $5 per day that will be charged beginning the 4th consecutive business day your account is overdrawn.

Nonsufficient funds (NSF) fees - if an item drafted by you (such as a check) or a transaction you set up (such as a preauthorized transfer) is presented for payment in an amount that is more than the amount of money in your account and we decide not to pay the item or transaction, you agree that we can charge you an NSF fee for returning the payment. Be aware that such an item or payment may be presented multiple times by the merchant or other payee until it is paid, and that we do not monitor or control the number of times a transaction is presented for payment. You agree that we may charge you an NSF fee each time a payment is presented if the amount of money in your account is not sufficient to cover the payment, regardless of the number of times the payment is presented.

PAYMENT ORDER OF ITEMS - The law permits us to pay items drawn on your account in any order (for purposes of this section "items" means checks, orders and electronic transactions). To assist you in handling your account with us, we are providing you with the following information regarding how we process those items. When processing checks and orders drawn on your account our policy is to pay lower numbered checks and orders in numerical sequence, but electronic transactions are paid first in the order received. The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. There is no policy that is favorable in every instance. If the smallest items are paid first, you may have fewer NSF or overdraft fees, but the largest, and perhaps more important items (such as rent or mortgage payments) might not be paid. However, if the largest items are paid first, your most important items might be paid but it may increase the overdraft or NSF fees if funds are not available to pay all of the items. We think our policy attains a reasonable balance between minimizing additional costs to you and paying your more important items. We encourage you to make careful records and practice good account management. This will help you to avoid creating items without sufficient funds and incurring the resulting fees.

What if I want Peoples Bank of Kankakee County to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions after your account has been open for 30 days, you may opt in.

You have an ongoing right to change this consent at any time. If your overdraft privilege has been revoked for any reason, the opt-in or opt-out selection may not apply. Please contact your nearest office for more information.

Alternate ways to Opt In/Out or make changes:

By Phone. Our Customer Care Representatives can be reached at 815-936-7600.
By Mail. Peoples Bank of Kankakee County, 333 E. Court Street, Kankakee, IL 60901
In Person. Please visit your local office and ask a representative to help you decide which plan is best for you.