A handy guide for those who have lost or have had their wallet stolen; providing steps and useful tips on how to get you back on your feet and to stay that way.

1. Lost or Stolen Wallet? No Problem!
Your Easy Step-by-Step Peace of Mind to Identity Theft Recovery & Avoidance
F
or centuries wallets were just simple provide you useful pointers on how to reduce the
carrying cases for trivial knick-knacks chances of it occurring again.
but as society evolved so had its
purpose. Now, the advent of vehicles, large- First and foremost you must come to terms
scale metro cities, and suburban mega malls are emotionally that your wallet is more than likely
making it easier for our senses to be flooded never going to be recovered. This doesn’t
with every imaginable want and need located at necessarily mean that you won’t see it again but
very short distances. Because of these growing you must accept the possibility that it is gone for
conveniences there is increasing demand that we good so that you can take action swiftly. Many
carry more of our personals; so it is no surprise people tend to hold onto hope way too long and
that most people take every imaginable don’t follow through with the necessary steps to
identification (driver’s license, club cards, and protect their identity in time. Taking action too
business cards), credit cards, photographs, cash late can cost you more than the paper currency
and checks/cheques, receipts, contact slips, and you had in your wallet.
more when they head out the door. For the remainder of this publication when I say
Do we really need to carry so much? In most “lost wallet” I am referring specifically to a
cases the answer is “no”! But with a plethora of wallet that was either lost through error or by
activity one can do in a given day it’s just easier theft.
to have everything with you in the off chance
you “may” need it even if you don’t plan to use
The Signs
it. In other words, better to have it and not need When you lose your wallet the real problems can
it than to need it and not have it. This mentality, take days, weeks, or even months to reveal
although incredibly convenient, leaves us even themselves so don’t think because you haven’t
more dangerously exposed to identity and seen unusual activity within the first 24 hours
valuables theft. For most, losing one’s wallet by that you’ve miraculously dodged the proverbial
way of having it stolen or through negligence is bullet. Here are some long-term red flags to
a devastatingly debilitating experience that has look out for as possible indicators that your
left many emotionally and physically scarred. identity may have been compromised:
It’s only when this happens that we begin to
regret having so much in our wallet. 1. You start receiving unexpected calls from
creditors demanding payment for goods you
If you are reading this publication after recently never purchased.
losing your wallet then rest assured this isn’t
going to lecture you about the mistakes you 2. Despite having a respectable credit history
made and point fingers. That is not helpful. The you start receiving rejection notices when
purpose of this writing is to walk you through applying for credit.
the necessary steps to get you back on your feet
in the quickest possible way, and to hopefully 3. Unexplainable credit card transactions
posted to one or more of your accounts.
1|Page

2. 4. Bills stop arriving. This could be an only recommended in cases where you have a
indication that a thief has changed your strong belief that you simply misplaced the
address on accounts in order to conceal their card(s) and it wasn’t in fact stolen. Reporting a
activities. card stolen with the bank/retailer will leave you
without a credit card for several weeks.
The Steps
Important Contacts You Should Know
Taking prompt and decisive action is your only
course for protection. In priority order, here is American Express 1.800.668.2639
your no nonsense step-by-step list on reclaiming BMO 1.800.361.3361
your personal peace-of-mind:
Capital One 1.800.481.3239
1. Credit Cards (incl. Retail-branded) Cards CIBC 1.800.465.2422
Excluding cash, credit and retail cards offered Chase 1.800.945.2000
out en masse by banks and retailers are the Citi 1.800.950.5114
quickest way for thieves to cash in on your good Discover 1.800.347.2683
name. Although most of these types of cards
MBNA 1.888.876.6262
now come equipped with a chip (requiring a PIN
# to be used) it should never be overlooked that ScotiaBank 1.888.823.9657
most retailers still offer you the alternative of TD 1.800.983.8472
signing instead of using a pin. A thief merely
need only get a rudimentary understanding of 2. Gift Cards
how to imitate your signature (as displayed on
Most large retail chains provide gift cards. Gift
the back of most of your cards) in front of a
cards are a form of in-store cash. Several credit
lackluster cashier who never truly scrutinizes for
card providers have also jumped into the mix
an accurate signature match. And online
and also offer their own branded gift cards.
purchases are a whole other thing. A thief
These types of cards are much harder to recover
doesn’t require a signature or a PIN to make
when lost because by their very design anyone
purchases online. However, their purchases can
can use them – there are no security restrictions.
leave a trail and provide clues as to where the
However, if you still have the original receipt
thief resides.
it’s possible you can contact customer service
Your first course of action upon losing your and alert them so they can transfer the balance,
credit cards is to phone your provider. Virtually invalidate the lost card, and reissue a new one.
all credit card company’s first phone selection But you must do so before the card is emptied
option is to report it lost/stolen. Select this out by the thief.
option and you will immediately be put in
Although it is tempting to carry gift cards with
contact with a representative who will walk you
you all the time it is not recommended.
through the process of suspending and reissuing
Preferably, consider only carrying a gift card on
a new credit card in the mail.
the day(s) you plan on using them.
Although there is a small chance of recovering
Important Contacts You Should Know
your credit cards you may opt to only suspend
(and later reactivate) your credit cards. In other
Amazon.com 1.866.216.1072
words, not file an official lost/stolen. This is
2|Page

3. Best Buy 1.888.716.7994 It’s strongly advised you request a credit report
from both agencies to keep an eye on your
Costco Not Replaceable
profile. The process is free and can be done via
Future Shop 1.800.663.2275 fax, phone, or online. It probably wouldn’t be
Gap 1.800.427.7895 worth getting the report right away because they
K-Mart 1.866.562.7848 are only updated once every 3-months.
Pizza Hut 1.888.344.6519 Important Contacts You Should Know
Toys R Us 1.800.869.7787
Equifax (Flag Alert) 1.800.465.7166
Wal-Mart 1.800.411.7942
TransUnion (Flag Alert) 1.888.909.8872
3. Credit Bureaus
4. PIN #s and Passwords
The two major credit profile collecting agencies
in North America are Equifax and TransUnion. Never keep any of your passwords (and PINs) in
Credit bureaus serve to help businesses get a your wallet; always memorize them. It seems
better understanding of your credit history (how obvious but all too often I have seen cases where
well you pay back your debts). Your activities people will carry little scraps of paper to serve as
are maintained for 5-8 years. The longer an reminders, revealing many of their private
identification thief has access to your details the secrets. The problem is over time those scraps
higher the probability that their malicious are forgotten to exist but still carried. Don’t
activity will have a detrimental effect on your make this mistake even if these passwords and
ability to secure further credit and loans. PINs don’t reveal which accounts they are
associate with – never underestimate the
Fortunately, both bureaus have a hotline to persistence of identity thieves.
report stolen identification affording you the
ability to place a fraud alert flag on your profile It is of utmost importance that you change each
warning businesses about offering credit without of your PINs and passwords if you did in fact
first asking for additional identification and even carry such a list in your wallet. Better to be safe
contacting you directly if the person is claiming than sorry.
to be a family member. Once enabled this flag
5. Filing a Police Report
remains on for 6 years. You can have it
removed sooner by submitting a written Depending on how much personal information
statement. This feature gives you peace of mind was in your wallet you may elect to file a police
that any thief will have a harder time devaluing report. There isn’t much hope in recovering
your good name. But this flag will require you your wallet’s contents by filing such a report but
to jump through a few more hoops with creditors it does provide you with the necessary
as they confirm your identity. And although paperwork you can use when
they can’t legally deny you credit with such a reporting/recovering your other lost/stolen
warning in place for those six years it is possible identification and can help prove your case of
they may view you as a potential risk and find theft to credit collectors. This is a common
an excuse not to offer you credit/loan. So just be route for those who have lost their SIN (Social
warned about this potential inconvenience. Insurance Numbers for Canadians) or SSN
(Social Security Numbers for US Citizens)
cards.
3|Page

4. Police reports must be performed at your local Most banks have very strong control measures
station and takes about 30mins. It is not and so you don’t need to worry too much about
necessary for you to book an appointment just this but if you know the check #s I recommend
walk-in and ask to file a report. you put a stop request on them through your
bank as an added precaution. In any case just
6. SIN/SSN Number Reporting keep an eye out for unauthorized check use.
Every Canadian and American has a SIN (Social 8. Debit Cards
Insurance Number for Canadians) or SSN
(Social Security Number for Americans). An Also known as ATM or ABM cards, debit cards
identity thief can do a lot of damage if they are issued by banks allowing its customers to
know this specific detail about you. This is why make purchases using money directly from their
you should never ever carry this card with you personal bank accounts while at retail
(memorize it). But if you did happen to lose this establishments. Cash withdrawals are also a
card a thief can apply for credit cards and loans common action. One significant benefit of using
in your name. They can also seek out a debit card over a credit card is that it limits
employment and get extended medical benefits your loss to the daily amount set by the bank
with this number. So losing this identification (usually $200-$500). It also has the added
can be the most costly form of theft of them all security of insisting that a personalized PIN # be
and potentially the most difficult to detect. entered each time, unlike credit cards which
only recently adopted PIN security, and still
These cards are administered by their respective allows for signatures or using the CCV #
governments. When you lose your card it is of (located on the back of the card) when making
utmost importance to notify them so that they online purchases.
can potentially flag your number and issue out a
new number in the process. In most cases they However, there are a certain few in the
will simply reissue the same number. population that like to keep their PIN #s close
by. Some will even write their PIN on the back
As a helpful note, if you do not remember your of their debit cards or place it on a sheet of paper
number, you can look to your prior income tax and stuffed (and forgotten) in their wallet. If
assessments; it is shown on them. you are one of those types you must learn to let
go of that security blanket. With your PIN # any
Important Contacts You Should Know
thief can drain you dry. Although there is a
Service Canada 1.800.206.7218 daily limit any passionate thief can collect
enough information about you and call to have
SSA (US Citizens) 1.800.772.1213
your withdraw limit increased and leave you in
7. Checks/Cheques (Unendorsed) an even bigger hole.
This may not be that much of a concern to many Important Contacts You Should Know
but because your signature does exist on other
Bank of America 1.800.848.6090
IDs in your wallet (credit cards, drivers license)
it does pose a potential issue in that it makes it Bank of Montreal 1.877.225.5266
easier for thieves to use these checks on your Chase 1.800.935.9935
behalf.
CIBC Debit 1.800.465.2422
4|Page

5. Citigroup 1.800.950.5114 identity thief were to get a hold of your health
information they can make use of it for their
PNC Financial 1-888.762.2265
own benefit. Canada recently adopted photo ids
ScotiaBank 1.800.472.6842 for their health cards which make it one step
SunTrust Bank 1.800.786.8787 harder for illegal immigrants to impersonate
TD Canada Trust 1.866.222.3456 you.
Wells Fargo 1.800.869.3557 It’s highly recommended that you contact your
coverage provider and inform them of the loss
9. Driver’s License (Insurance/Ownership) so they can be on full alert of any new and
This is the most common form of identification possibly unusual activity.
that will be lost since it is the most likely to be Important Contacts You Should Know
in a wallet. The primary issue with losing your
license (or accompanying insurance/ownership) Aetna 1.800.872.3862
is that it provides the thief more information
Blue Shield 1.800.393.6130
about you -- your address, name, who your
insurance provider is, etc. They can use this Highmark 1.412.544.7000
information to help supplant you in other areas. Humana 1.800.448.6262
They can also use your address to make an Ministry of Health (Canada) 1.866.532.3161
unannounced visit to your home.
United Healthcare 1.866.223.5802
Most countries don’t require you to carry your WellPoint 1.317.488.6000
insurance and ownership with you -- they can be
left in your car’s glove compartment. 11. Birth Certificate
You only need to visit your driver’s service Although losing your birth certificate is not
center to fill out a simple form and they will directly a problem this form of ID is helpful
mail you a duplicate of your driver’s license. when applying for (or replacing) a SIN/SSN
They will also provide you with a temporary card. It also serves as additional government
license that you can use as you wait for the proof that you are who you say you are, a citizen
replacement to arrive in the mail. of that country. A thief, especially an illegal
immigrant, could use your birth certificate as
Important Contacts You Should Know additional proof when procuring more IDs and
ultimately taking over your identity completely.
DMV (for Americans) 1.800.952.3696
Driver’s Licensing Centre 1.800.387.3445 There is no point in carrying your birth
certificate with you at all. Always keep it
10. Health Card (and Insurance Information) locked away at home. You will almost never
need it. If it does happen to be one of your
Americans who opt for health coverage do so lost/stolen IDs it is very important to contact the
usually through their workplace and/or by agency responsible and have it replaced.
paying premiums for extended insurance
coverage. Canadians, on the other hand, get 12. Passport
most of their healthcare through a nationwide
universal free coverage. In both cases, if an Although a passport gives one the ability to
travel outside their native country it can serve as
5|Page

6. a valuable ID when applying for other forms of or even avoid such a predicament in the future,
identification. Recently passports have adopted making you into a more savvy individual.
more stringent security measures such as
holograms to prevent tampering and forgeries. The Author
However, it is still fairly easy for a thief to get
by these measures. Emma Li is a personal finance correspondent for
several online outlets producing such popular
Most people don’t carry their passport with them writings as Questrade - An In-Depth Look.
that often and so this type of loss is fairly
uncommon. However, if it is lost or stolen it’s Graduating with a degree in social psychology
still highly advised to get in contact with the from the University of Waterloo Emma chose to
government and let them know and they will follow her true passion in life by shifting
reissue a copy. towards providing advice on personal finance
and investing.
Important Contacts You Should Know
Emma splits her time in Toronto, Ontario and
Passport Canada 1-800-567-6868 Fremont, California with her husband and two
children.
U.S. Dept. of State 1-877-487-2778
The Final Word
I have covered most of the common IDs that can
and does get lost but there are countless other
identifications one may be carrying in their
wallet. Regardless, the most important advice is
to learn to only take with you the most important
IDs that you will be using on a day-to-day basis
and leave the others at home locked away. For
the most part the only IDs you should be
carrying are: driver’s license (and insurance),
health card, debit card(s), credit card(s), and a
small quantity of cash. All other forms of ID
should only be in your wallet on brief occasions
when you actually need them.
It’s also recommended that you only carry two
credit cards and two debit cards at most. The
reasoning is simple. One credit/debit card
serves as your primary tool for purchases while
the other serves as backup. By limiting how
many cards you have in your wallet you limit
your losses.
Losing your wallet is never a fun experience but
by taking these precautions and learning from
your mistakes you can be better prepared to limit
6|Page