Lost Your Wallet? Here's What You Need To Do

How many wallets are lost or stolen each year?

If you’ve ever reached into your pocket, only to find your wallet isn’t there, you’re not the only one. 

According to a survey by MoneyTips, 62% of the people who responded to their survey have had their wallets lost or stolen.

Have you ever lost or had your wallet, purse, pock

Have you ever lost or had your wallet, purse, pocketbook or money clip stolen?

Source: moneytips.com
Source: moneytips.com

FAQs related to what to do when you lose your wallet

What do thieves do with stolen wallets?

I understand you might want to know what happens when someone steals your wallet in order to know how seriously you should take it and be able to protect yourself from damages. There are a variety of things thieves do with stolen wallets with the common ones been; to use your credit and debit cards for illegal purchases online, cloning of your locks and tracing your house from the address on your driver’s license. Your IDs are the most common means of identity theft. According to the Federal Trade Commission (FTC), as many as 9 million Americans have had their identities stolen each year. This can easily be done when a lost wallet gets into the bad hands.

What to do with found lost wallet? If you are lucky to recover your lost wallet, what next to do, depends on when and where you found the wallet. If the missing wallet is found inside your bag, it could be a misplacement you may not want to carry out further actions. If it is found in a public place, days after, or was taken to the police station by someone who picked it up, here’s what to do; Crosscheck what’s on your list and what’s inside the wallet or purse, if they are complete, follow the steps recommended on this post to further protect yourself as the information contained on your wallet might already have been copied.

Feel free to share your experiences with us and let us know if our compilation of the best tips on what to do when you lose your purse or wallet is helpful to you.

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1. Try to find your lost wallet

This is perhaps the first thing to do when you lose your wallet. Before you continue with any of the steps listed below, here’s how to find your lost wallet;

Hold your breath and try to calm your nerves down. Don’t get so nervous like the first time I lost my wallet in the UK while on transit.

To find your missing wallet, you may want to check your pockets, bags, lockers, desks and car thoroughly and if possible, contact public places you visited to know if the missing wallet is found.

These afforementioned, are reliable means to increase the chances of finding a lost wallet. If you are unable to recover your wallet using these methods, I would like to let you know that’s not the end of the world. Continue with the steps below, to protect yourself and prevent fraud using your identies…

6) Make It a Habit to Start Keeping Your Wallet in the Same Place

            Those are all the backward looking suggestions we’ve got. Moving forward, we recommend you start putting your wallet in the same place, every single day. Preferably you should stash your wallet with the keys, as they’re actually pretty good friends and they like to hang out. Plus this way they’re in the same spot when you need them. Having a go-to place for your wallet will keep you from losing it next time.

3. Call Your Bank

Contact your bank immediately. Report your debit card as lost or stolen. Your bank will cancel your lost debit card and issue you another debit card with a new card number. 

In the event of bank fraud, you may need to cancel your bank account and open a brand new account with new account numbers. It’s a hassle to transfer everything to new bank accounts, but it’s worth it. 

Remember that if you wait over 60 days to report theft, you may be held responsible for unauthorized purchases. Most financial service companies are very supportive when it comes to handling fraud, as long as you’ve demonstrated fast action to resolve any issues. 

Banks like Wells Fargo and American Express have produced helpful documentation you can review if you are a victim of fraud. 

1. Retrace Your Steps and Search for Your Lost Wallet 

If you lose your wallet, immediately search all the areas you frequent to see if you've misplaced it. Retrace your steps and double check that your wallet is actually lost. This will save you a lot of hassle before you start canceling credit cards and opening new accounts.

Check under your bed, behind the couch, along the side of your car seats, and even your jacket pockets. It's possible you misplaced your wallet somewhere, and did not actually lose it. 

Check your gym, work office and recently visited restaurants to see if anyone has turned in a lost wallet. If your wallet is still missing, take precautions to prevent identity fraud, especially if you recognize any of the major warning signs

Other Odds and EndsIf I Lost My Wallet

If your wallet was lost or stolen, there is a good chance it landed in the hands of criminals. You may want to be proactive and change the locks on your doors since they now have your home address. 

This is a great time to sign up for credit monitoring with IDStrong.com to have the professionals keep an eye on things for you.

If you have a lawyer, call them too to give them a heads-up you may be dealing with a case of identity theft. They may also have some tips to ward off the danger. 

How Do You Cash Out Your Bitcoin Wallet?

You can’t convert Bitcoin to cash directly whenever you feel like it, but you can sell your Bitcoin anonymously on the blockchain in exchange for the fiat currency you desire. A crypto exchange can handle the transaction on your behalf and find a buyer so that you can quickly convert the value of your Bitcoin into the cash you need. Every wallet has different rules and time periods for transferring your fiat currency over to your bank account, but most can be done in one to three days after the Bitcoin sale is complete.

What Is a Bitcoin Wallet?

A Bitcoin wallet is a place that stores your digital Bitcoin and validates your transactions when you’re using your Bitcoin. A wallet keeps secret information, called a private key or a seed, used to validate transactions and “sign” them so that your Bitcoin can be used to make purchases or exchange for another asset. This prevents someone else from using your Bitcoin or the transaction being altered by a third party.

Often, when people refer to a Bitcoin wallet, they refer to a crypto exchange that offers a wallet as part of their account features. In this sense, the wallet is just where all of your cryptocurrencies are kept or where you can keep fiat money for future use.

What To Do if You Lost the Wallet Forever

If you’ve exploited all options and can’t get your wallet back, you should take action to ensure your safety in the case of your belongings falling into the wrong hands. To make sure you don’t lose more than just your wallet, do the following:

  1. Call your bank and credit card company
  2. Set up fraud alerts
  3. Replace your documents

There’s nothing you can do about cash except to wave it goodbye.

Calling Your Bank and Credit Card Company

Once you accept the fact your wallet is lost or stolen, you need to call your credit card and bank immediately to cancel your cards. This way, you can stop any unwanted transactions from taking place. If you don’t report a lost wallet within two business days, you’ll be liable for up to $500 in illegal purchases.

Take a look at the following table to find the contact info of some of the most popular banks and companies:

Institution TypeName of the InstitutionPhone Number
BankWells Fargo1-800-869-3557
Bank of America1-800-432-1000
PNC Bank1-888-762-2265
US Bank1-800-285-8585
Chase1-800-935-9935
Citibank1-800-950-5114
TD Bank1-888-751-9000
Credit card companyVisa1-800-847-2911
Discover1-800-347-2683
American Express1-800-992-3404
Mastercard1-800-627-8372

Setting Up a Fraud Alert

Fraud alerts protect you from potential thieves using your identity to take out loans, open accounts, or create businesses. You need to contact only one national credit bureau, and they will create a universal fraud alert.

With it, all creditors and institutions are obliged to check your identity by calling you to make sure it’s you who is making the request. Four bureaus deal with fraud alerts:

  • Social Security Administration fraud line—1-800-269-0271
  • Equifax—1-800-525-6285
  • TransUnion—1-800-680-7289
  • Experian—1-888-397-3742

Replacing Your Documents

Since you’re required by law to have an ID card and drive with a license, you will need to replace those documents as soon as possible. You should report your missing driver’s license and ID card to any DMV and start with the process of getting a new one.

16 comments

After many hours looking and tearing up my room, I took a few seconds, took some deep 4-4-4 breaths, and found it within a minute. Thank you so so so much and I’ll get a tile tracker too!

jonah D January 14, 2022

Awesome information! Such a wonderful reference! Thanks for all the hard work you have obviously put into this!

Yippie Vibe September 07, 2021

Lost my wallet by foolishly leaving it on the top of the back of my car. Panicked when I realized what I had done. Read this site’s advice (breathing thing really worked), then went out to look for it at 12:30 @ night. After walking about 1/4 mile in nasty “grass” aside the road, my flashlight came across my familiar friend. I thanked God on the spot, and I thank you for posting this vital advice.

Travis September 07, 2021

thank u i found my wallet i was looking for 2 hours and just couldn’t find it i went on google for some pointers and thats how i came here so thanks

angel June 14, 2021

I lost my wallet last week….went to police but no luck! Thanks for this site….jt

John tobin June 14, 2021

This is amazing. Mine has been lost for over a month. I just hadn’t looked properly in the old motorbike jacket I rarely wear. There it was. Dawkins bless you, Rogue Industries.

milo June 14, 2021

Thank u so much your a life saver 😭

Ishmael September 01, 2020

Today i woke up looking for my wallet. I checked everywhere i know. I had not been touching it for 2 days and i went through everything i did at the time.. I searched for it at least for 2 hours. Then i opened google i thought maybe id find some tips on how to find it. So i end up here. I read this and in less than 5 minutes i find it. I was ready to go report it stolen. Then kept thinking how dumb it will be if i report it stolen and it pops op someplace by the end of the day. Guess this helped. Im not loosing sight of this thing ever again 😀

Zdravko November 03, 2020

Thank you! This article actually worked. It was tucked away in my backpack!

Adam D Hickey November 03, 2020

Thanks for the tips. I had my wallet at a private establishment, and I have called and they don’t know where it’s at. I have done each step a couple times. This has kind of turned into controlled chaos. A lot of cash was in that wallet, and I don’t know what I am going to do. Any other tips?

Carson Turner April 10, 2020

One of the most helpful articles on finding things. Every other article says think about where you were. But this one has breathing and multiple other things. Thankyou so much.

Really helpuful. April 10, 2020

What if I lost my wallet at the movie theater? I tried calling several times and wouldn’t answer. They would always leave a voicemail repeating the same line like “for more information, please press 2”, or something like that. And I’m not sure if I can go to the theater and ask one of the people who work there if I can retrieve my wallet since I feel like I’m wasting other people’s time who are waiting in line. What should I do?

Brian April 10, 2020

Thanks for the tips. I think step 4 should be the first thing cause I destroyed furniture before reading the rest of the tips and now I need to buy another couch. thanks again.

Elijah Bradley October 17, 2019

I lost my wallet n im sure its in my house only. This is helpful. Ill continue searching.

Varshini October 17, 2019

This was helpful

Boston July 09, 2019

Thanks Isaac March 15, 2019

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