Steps To Undertake In The Event Of Losing A Paystub
At the time of the pay, the employee expects to receive a range of things and these include the amounts owing as well as an outline of the items that has been factored in the pay. This information is contained in the paystub. Importance of the document extends beyond outlining of the items but as well as a document that is required by financial institutions and other agencies. A big risk however comes in the event the document is lost. Vital information on the employee including the financial information can easily fall on the hands of thief’s in such an instance. To avoid further losses and any prevalent attack on ones finances, the employee then needs to undertake a number of important steps.
Loss of the paystub means the employees financial information is also lost. This comes with a big risk of having the employees bank accounts accessed by the thieves. The employee needs to take the first step that entails making contact and reporting tot eh bank. With the report by the employee, the bank uses its platform to ascertain of any activities that take place with the employees accounts. The bank also has the powers to freeze the account and hence reduce the risk of withdrawal of any amounts from account by the thief.
It then follows that after securing the bank account the HR department should be notified of the loss. The move works to ensure there is no access available to the thief to any of the paychecks that are issued in the name of the employee. This also provides a chance for the employee to receive a new paycheck and have the old one cancelled before the funds have been accessed by the thief. In certain instances, there may be need to have the request made in writing in order to make it formal and for filing purposes.
Information on the paystub comes as vital and is applicable on many platforms and in such way increasing the risk on the employee. Among the things at risk in this respect are those related to the finances of the employee. Creating a credit fraud alert therefore comes as an important consideration for the employee. The employees information is therefore tracked by the relevant institutions where the employee has access to financial services. In such way it becomes an ideal way to thwart any plans by the thief to make transactions or acquire cards in the name of the employee. Involvement of the police in the process also come in as a big compliment.
Loss of the paystub may also mean losing the pay. The occurrence comes with loss of personal information. Undertaking safety measures therefore comes in handy when the paystub is lost to avoid further losses. In such way, it serves as a point to initiate the tracking process when ensuring everything remains safe.