Key Takeaways:
- If you lost your wallet, first try retracing your steps and checking the pockets of recently worn clothing.
- If your wallet is lost, call your bank, credit card providers, and the DMV (as well as the police if you believe it was stolen).
- If you’d like to improve your chances of finding your wallet in the future, use a wallet that can attach a tracking device, such as an Apple AirTag.
- If you find a wallet that has a valid ID with an address, simply drop it into any USPS mailbox.
There’s no worse feeling than patting your pockets or digging into your purse, only to realise you’re missing a crucial belonging — your wallet. Losing your wallet isn’t only an annoyance; it’s potentially an opening for you to become a victim of serious types of fraud or identity theft. But, before you panic, there are things you can do to help make sure nothing worse than needing to take a trip to the DMV for a new driver’s license happens. Let’s get into it!
How to Find a Lost Wallet
Before going into a full panic, there’s a chance that your wallet isn’t gone for good. Quickly go through the following to see if your wallet is simply misplaced, rather than actually lost:
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- Retrace your steps. Check around your house, in the car, or in any restaurants or stores you recently visited.
- Check your pockets. Make sure to go through any clothes you wore recently, as it could be your wallet just ended up in a jacket pocket.
- Track it. This is only helpful if you have a device like an Apple AirTag attached to your wallet, but for those who do, now is the time to check its location.
What to Do if You Lose Your Wallet
Once you confirm your wallet is gone and isn’t just hiding between the couch cushions, there are a few immediate steps you’ll want to take. Remember, there’s a good chance that whoever finds it will do the right thing and try to return (hopefully with any cash untouched), but it’s still a good idea to lock down some of your accounts.
1. Call Your Bank
The first thing you’ll want to do is eliminate any chance that whoever finds your wallet can get into any of your bank accounts. Call your bank to let them know you’ve lost your wallet and debit card. While you should do this immediately, you do have about 48 hours to ensure full protection under the Electronic Fund Transfer Act (EFTA), which limits your liability to $50 and improves your ability to reverse unauthorized charges.
2. Call Your Credit Card Providers
The next step to ensuring no one goes on a spending spree with your wallet is to contact your credit card providers to cancel any lost cards and get replacements sent. Also, be sure to monitor your accounts so you can promptly flag any fraudulent charges.
3. Request a Credit Freeze
If you’re worried about new accounts being opened in your name, contact the major credit bureaus (Equifax, Experian, and TransUnion) to place a freeze on your credit. You can also set up ongoing fraud alerts, so that at any point in the future, you get notified should anything suspicious occur.
4. Contact the DMV
Outside of the financial stress that comes with losing your credit cards and any cash that was in your wallet, losing your wallet also means you likely have to make a trip to no one’s favorite place: the DMV. A few states will allow you to order a replacement online, but for most, you’ll want to schedule an appointment to get a new ID (and inform them your previous ID is lost or stolen).
5. Contact the Police
If you believe your wallet wasn’t just lost, but rather stolen, contact the police and file a report. This can be helpful in establishing a timeline, should you later have to dispute any fraudulent activity.
6. Replace Everything Else
The biggest bummers about losing your wallet are having to replace credit cards and your ID, but the cherry on top is that you’ll also have to replace everything else that was in your wallet. Some things you’ll most likely need to replace include:
- Auto insurance cards
- Health insurance cards
- Membership cards (i.e., AAA, Costco, grocery store, gym, library, etc.)
- Transit cards (such as bus or train cards)
Best Practices to Keep Yourself Safe in the Future
In an ideal world, nobody would ever lose their wallet…in the real world, some of us might lose our wallets more than once. If you tend to have a runaway wallet problem, here are some things you can do moving forward:
- Get a wallet that can have a tracking device (such as an Apple AirTag) attached.
- Limit what you carry in your wallet to essential items.
- Store an easy-to-spot contact information card that includes your phone number, so whoever finds it can call or text you and let you know they have it.
- Consider a wallet that can be affixed to your person (such as a wallet on a chain, or similar accessory).
FAQs about Lost Wallets
What should I do if I find a wallet?
If you find a wallet, you can first check to see if there are any contact cards that provide the phone number of the rightful owner. If not, but there is a valid ID, you can simply put the wallet in a USPS mailbox, and the U.S. Postal Service will return it to the listed address. Alternatively, if you are in a restaurant or business, simply hand it to a staff member.
How long should I wait for my wallet to be returned in the mail?
As we mentioned above, the USPS will return wallets that have an ID with a valid address. While people will often have their wallets returned this way, it’s still best to immediately take steps to secure your information, as detailed earlier in this article.
How can I tell if my wallet was lost or stolen?
While you might have an idea, there’s no way to know exactly if your wallet was misplaced or actively stolen. However, if you see unrecognized charges on your bank statement, odd changes in your credit, or other unexplained communications or changes, it’s likely your wallet is in criminal hands.
I want to return a wallet, but there’s no address. What should I do?
If you find a wallet that has a name but no address, you can try using a people search tool like Spokeo to find people in your area that match the name. You can then try to contact them via phone, email, or even social media, depending on what results come up.
Cyrus Grant is a writer from Southern California with a background in law and dispute resolution. When he isn’t writing, he can be found deep-diving into the latest technology trends or simply spending time at the beach.
