Paystubs offer wonderful convenience to an employee. It's great to have one piece of paper that contains all pertinent information about your financial info and payment history. They can be incredibly useful, which is why so many states actually require them. That convenience can be a double-edged sword when it comes to security.
If a thief manages to steal your pay stub, all of a sudden you find yourself in a very vulnerable position. What should you do in this situation? If your paycheck stub has been stolen, keep reading. We'll walk you through all the steps and precautions you should take.
Call Your Bank
If your pay stub has been stolen, it means that the security of your financial situation may be comprised. With that in mind, the first place you should call is your bank. If you receive direct deposit to your bank account, it’s possible that your bank account information is listed on your paystub. A thief can use this information to attempt to access your account.
You should request that your bank immediately begins to monitor your account for any changes. Even if you don’t use direct deposit, it’s still a good idea to notify your bank just in case a thief attempts to access your account in other fashion. Most banks have the ability to freeze your account temporarily, preventing funds from being drawn out.
This freeze will ensure the thief cannot use your pay stub to gain access to your account.
Contact Human Resources
Once you’ve ensured your bank account is safe, you can move on to your next important call. If there was a check attached to your pay stub, a thief is likely attempting to cash that check. As such, your next call should be to the Human Resources department of your employer. Someone in HR can either help you directly or connect you with someone in the accounting department who can.
They can put a stop on your check, so that there is no way a thief will be able to cash it. Someone in the H.R department can also help to change your direct deposit information. The information on your stub, such as the last four digits of your social, can help a thief to try to gain access to other sensitive areas, such as your 401k. Your H.R representative can put a hold on such areas of your account and ensure no changes are made.
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Once you’ve ensured the safety of your accounts, you can work to obtain a new copy of your check and pay stub. Your H.R representative can connect you with someone in charge of payroll. You can request a new copy from this person, though they may require a formal request in writing for their records. You may also be required to fill out a pay stub request form.
These forms usually require information such as; if the pay stub you received was physical or digital, your social, and your employee ID number. If you don’t know this information, you can likely find it on former paystubs. Once you’ve signed this form, you can return it to the payroll office in person or via fax.
If you don’t hear back from the office within two to four days, it’s perfectly acceptable to check in. You might be nervous about making it through your next few bills without this paycheck, but, acquiring a replacement check can take a little time. On average, a lost pay stub can take anywhere from a week to two weeks to replace.
You can pick the check and stub in person when it is ready or have it mailed to your address.
Initiate A Fraud Alert On Your Credit
There is one extra step you might want to take to ensure your safety following a pay stub theft. Since your pay stub has plenty of personal identifying information, you may want to go ahead and flag your credit report. This means that credit reporting agencies will keep a look out for your name and information for the next month.
Often times, thieves will try and use the information from your paystub to open a new credit card. Putting a flag up can help prevent them from getting a new card in your name. This will mean that you won’t be able to open a new card yourself until thirty days have passed. This is something to take into consideration if you do want to notify the credit reporting agencies.
If a check was attached to your stub, you also technically have the right to call the police about your stolen money. Tracing a stolen pay stub can be difficult, but there is a chance that the police might be able to track your thief down. If you do go down this route, you may want to notify your payroll department. It is very likely that the police may call their office to ask a few questions, and most people will appreciate the heads up.
If Your Paycheck Stub Has Been Stolen
Having your paycheck stub stolen can be a devastating feeling. Not only are you now out of your week's wages, but your financial information is out there in someone else's hands. Taking the above actions can help you take back control and put matters into your own hands.
There is also the option of generating your own stub. Let us help you get started. Create your pay stub in minutes!