Company ATM and ID Affidavit of Loss: Legal Clarification

Dear Attorney,

I would like to ask for your legal advice regarding the loss of my company-issued ATM and company ID. I’ve heard that an affidavit of loss is necessary in cases like this, but I’m unsure if this applies to both the company ATM and ID. Can you kindly clarify if the affidavit of loss would cover both items, or if there are specific processes for each? Additionally, could you provide guidance on the proper steps I should take after losing these items?

Concerned Employee

Insights

In the Philippines, an affidavit of loss is a standard document that can be used to declare the loss of important personal or official items. It is commonly used in situations where an individual has misplaced or lost valuable documents or belongings, such as identification cards, bank documents, or ATM cards.

When it comes to a company-issued ATM and ID, the affidavit of loss typically covers both, as long as both items are mentioned in the affidavit. This document serves as a formal declaration that these items were lost and outlines the circumstances under which the loss occurred. It is often a requirement by banks and companies before they can issue replacements for the lost items.

For a company-issued ATM card, most banks will require the affidavit of loss as part of their procedure for replacing the card. This ensures that any risk of fraudulent activity is mitigated, as the bank will be able to freeze or deactivate the lost card once the loss is reported.

Similarly, a company-issued ID, being an important identification tool for work, can also be replaced upon submission of an affidavit of loss. However, each company may have its own process for handling the replacement of lost IDs. It's important to coordinate with the company's HR or administrative department to determine the exact requirements and whether the affidavit of loss alone is sufficient or if additional documents are needed.

Steps to take after losing your company ATM and ID:

1. Draft the affidavit of loss: Clearly describe the items lost, including the company-issued ATM and ID, and detail the circumstances of the loss. Ensure that the affidavit is notarized.
2. Report the loss immediately: Notify both your company and the issuing bank about the lost ATM and ID. This will help in securing replacements and minimizing any risks of unauthorized use.
3. Coordinate with your company’s HR/Administration department: Each company may have a specific process for replacing a lost ID. Some may ask for additional forms or fees.
4. Follow the bank’s procedure for ATM replacement: In most cases, you’ll need to submit the affidavit of loss to the bank and fill out any additional forms. The bank may also require you to visit a branch to process the replacement.

While the affidavit of loss covers both the company-issued ATM and ID, it is essential to handle each case individually with the concerned parties (company and bank) to ensure that the proper replacement procedures are followed.