“My debit card was hacked, will I get my money back?” This is one of the first questions you may ask if you discover your account has been breached and your funds stolen.
Financial fraud is a growing concern, and debit card users lose millions of dollars to it year after year. What happens if you fall victim to a debit card hack and your funds are compromised? Can you recover your losses?
In this article, we explore the steps to take if your debit card gets hacked, potential outcomes, and efficient methods you can employ to safeguard your funds.
If My Debit Card Gets Hacked, Will I Get My Money Back?
You have a high chance of recovering your money after your debit card is hacked if you report the incident to your debit card issuer and the Federal Trade Commission (FTC) within 48 hours. Reporting fraudulent activity or purchases on your debit card within two business days will likely absolve you of the responsibility for paying for illegal transactions over $50.
However, whether you will get your money back typically depends on your bank’s policies, the amount lost, and the method the bad actor used to breach your account. In comparison to credit cards, debit card fraud protection is usually not as stringent, which means you are not always eligible for a refund if your debit card gets hacked.
Debit Card Fraud—How To Get Your Money Back
If you fall victim to a debit card hack, promptly reporting the fraud is essential to recovering your money. Since debit charges directly impact your account balance, banks run an investigation in as little as 10 days to review the unauthorized charges on your account.
If the bank can’t complete the investigation within this time frame, they’ll provide you with temporary credit for the amount of the disputed charge—if their policy allows it. If you can’t secure a bank refund or don’t receive feedback from them within 10 days, there are other steps you can take to recover your funds.
The table below explains your options clearly:
Alternative Steps | What To Do |
Complain to the Federal Reserve | File a complaint with the Federal Reserve Bank, and you’ll get an update on your investigation within 15 days. Within 60 days, you should get an update on your funds from your bank |
Complain to the Office of the Comptroller of the Currency (OCC) | Search the OCC database to check if they regulate your bank. The OCC will work to get a resolution within 60 days. Ensure you have all your documents ready before you begin the process |
Report to the National Credit Union Administration (NCUA) | If you’re having trouble with your credit union, the NCUA will resolve the issue within 60 days. If the process exceeds this time frame, the administration will conduct a formal investigation into the incident |
What Happens if My Debit Card Is Stolen and Used?

If your debit card gets stolen physically, or your debit card information gets compromised, the repercussions include:
- Loss of funds—This is the most immediate consequence of losing your debit card. The fraudster may be able to access your savings and withdraw funds from your bank account if they have your debit card details. They may also use that information to access your other financial accounts, which may result in greater financial loss
- Identity theft—If the thief gains access to your private info, such as your date of birth and Social Security number (SSN), they could use it to clone your debit card, open new credit accounts in your name, or commit other fraudulent activities
- Credit score impact—Identity theft can impact your credit score negatively if the thief racks up credit in your name. It may also make it difficult for you to open credit in the future
- Potential liability charges—If you notify your bank or creditor within two business days of discovering the theft, you won’t be held responsible for more than $50 of the unauthorized transactions. If you notify them after two business days, you could be responsible for up to $500; anything longer than 60 days could result in you being liable for the entire amount the hacker stole
How To Prevent Debit Card Fraud
When fraudsters use your debit card, it can cause catastrophic repercussions, including debt accrual and drained savings. Take these steps to prevent debit card fraud and avoid becoming a victim of hackers and identity thieves:
- Activate bank alerts
- Properly discard your paper documents
- Destroy expired debit cards
- Keep your computer and mobile software updated
- Transact on a secured network
- Use bank ATMs
Activate Bank Alerts
It’s not enough to review your bank statements frequently for unauthorized charges; setting up banking alerts will also help you spot bank activities on your account as soon as they occur.
You can choose to receive email or text notifications when your account is updated, such as withdrawals or account modifications.
Properly Discard Your Paper Documents
One of the ways fraudsters access your debit card information is through your account statement documents. To eliminate the chances of fraudsters accessing your paper statements, opt to receive your account statements online instead of via mail.
To properly discard paper documents, you must destroy them using a shredder so fraudsters can’t access your details.
Destroy Expired Debit Cards
When your debit cards expire, shred them before you discard them. Fraudsters can easily manipulate old cards to their advantage, and your financial information is at risk of misuse if bad actors lay their hands on it.
Keep Your Computer and Mobile Software Updated
Update your computer and mobile device frequently to prevent fraudsters from infiltrating through unnoticed vulnerabilities. Use firewall, anti-spyware, and antivirus software on your devices to stay protected and safely use your debit card online.
Transact on a Secured Network
Public Wi-Fi transactions are vulnerable and easily intercepted by hackers looking to steal your card information. To prevent this from happening, avoid making debit card transactions on a public or unsecured network.
If you must use general Wi-Fi to transact, protect your data with a Virtual Private Network (VPN) to stay safe.
Use Bank ATMs
ATMs in remote convenience stores or gas station pumps are easily compromised by fraudsters who install a credit card skimmer to steal card information from unsuspecting users. To avoid this trap, use ATMs located at banks since they often have better security.
Steps To Take if a Debit Card Is Hacked

If your bank account gets hacked, don’t panic. Take the following steps immediately to regain control over your privacy and funds:
- Contact your bank, the police, and the FTC
- Place a freeze on your credit report
- Move your funds to a safer account
Contact Your Bank, the Police, and the FTC
Immediately call the number of your card issuer to report the fraud. The faster you do this, the lower the financial charges you’ll pay and the lesser the losses you’ll incur. You can also file a report with the police and the FTC to help with your investigation and to recover your identity quickly.
Place a Freeze on Your Credit Report
Even though a debit account doesn’t typically affect your credit report, it’s important to protect your credit account before fraudsters get to it. Once they have your financial information, they can steal your identity and try to open a credit line in your name.
Contact the three major credit bureaus—Experian, TransUnion, and Equifax—to freeze your credit. This will prevent creditors from approving new loans or accounts in your name.
Move Your Funds to a Safer Account
Once fraudsters breach your account, they work quickly to drain it before they are detected. If they are successful, you risk being financially stranded and unable to meet financial obligations. That’s why experts recommend quickly moving your cash to a safer storage account.