Have you ever wondered what to do if you found a lost wallet? It's not really a "finders keepers" situation — and you definitely can't use any of the plastic that might be housed in the wallet. That would put you on the hook for potential fraud charges.
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The right thing to do when you find a wallet is to take steps to return it to the person it belongs to.
What Should I Do If I Find a Lost Wallet?
Safely returning a wallet to someone who lost it can be a bit more complex than you might imagine, though. You might also run into some bad advice for handling this situation, which is why it's a good idea to read the guide below.
Can You Put a Found Wallet in the Mailbox?
Some people will tell you that you can drop a lost wallet in a mail collection box, and the U.S. Postal Service will take it from there. On the surface, this sounds like good advice. The USPS already has a process in place for delivering items to houses across the nation. As long as the wallet has an ID with a good address in it, why shouldn't the USPS cart it to wherever it belongs?
In reality, however, the USPS actively discourages this action. It's not impossible that a wallet dumped into a mailbox would make it back to its rightful owner. However, the USPS doesn't have any sort of program to handle this, which means there's no oversight or assurance that the wallet and everything in it will show up where it's supposed to.
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How to Return a Lost Wallet
The best way to return a lost wallet depends, in part, on where you found it.
If you find a misplaced wallet in a local business, such as a store, office or restaurant, ask to speak to the manager or owner of that location. You might leave the wallet in their care. Chances are the wallet's owner will retrace their steps looking for the missing item, and the business can restore it to them.
However, if you find a wallet lost outside a business or you don't feel comfortable leaving the wallet with the business for any reason, you can take some steps on your own to reunite the wallet with its owner:
- Look for any contact information inside the wallet. If possible, reach out via phone to confirm the person lost the wallet and make arrangements to return it. It's best to do so in a public location — don't go to the person's house or invite them to yours.
- If there's a debit card in the wallet, you might contact the bank associated with it. If it's a local branch, you may be able to leave the wallet with them or ask them to contact the account holder so they can call you about retrieving the wallet.
- If there are credit cards in the wallet, you can do the same thing. Call the customer service line on the back of the card and let them know you have the wallet and card. Ask them to contact the account holder and provide your phone number so they can get in touch.
If you don't want to take up the search yourself, you can also leave the wallet with a local police department. What you shouldn't do is post information about the wallet on social media. That's likely to result in people trying to claim the wallet when it's not theirs.
What Do Police Do With Lost Wallets?
When police receive a lost wallet, it's filed with the property department. A clerk in that department will attempt to contact the owner using some of the same tactics mentioned above. The wallet will also be held safely should the owner call to report it missing and find out if anyone turned it in.
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FAQs
The best thing you can do is drop it off at the local police station. Not only is the owner more likely to go looking there, but the police may even have the person's contact information on file and take care of the drop-off for you. Another great idea is to return the wallet to the owner's bank.
How do you respond to I lost my wallet? ›
What to Do if Your Wallet Is Lost or Stolen
- Freeze Your Credit Cards. ...
- Contact Your Credit Card Issuers. ...
- Contact Your Bank or Credit Union. ...
- Notify the Police. ...
- Notify the Social Security Administration. ...
- Set Up a Fraud Alert. ...
- Replace Your Driver's License. ...
- Come Up With a List of Everything That Was in Your Wallet.
Common law defines lost property as personal property that was unintentionally left by its true owner. For example, a wallet that falls out of someone's pocket is lost. At common law, a person who found lost personal property could keep it until and unless the original owner comes forward.
Should I return a wallet I found? ›
In fact, a USPS spokesperson told WUSA9, "We do not encourage customers to put lost items, including wallets, in collection boxes. If someone finds a wallet the best option is to turn it in to the local police.
What to do if you find something valuable? ›
It's always to your advantage to report the find at once, make a careful note of where you found the object and make sure that you don't damage it, for example by cleaning it.
Can a lost wallet be tracked? ›
Wallet Trackers for Smartphones
Most wallet trackers will pair with your smartphone to provide a map where you can find its location. The Tracker Card uses Chipolo software to provide a seamless interface similar to Google Maps where you can find and locate your phone with amazing precision.
Is losing wallet good or bad? ›
Bottom line. Losing your wallet can be a big hassle, but as long as you take action quickly, you can prevent losing money and protect your personal information from potential identity thieves. Make sure to track your bank account and credit card activity regularly so you can swiftly detect any unusual activity.
What to say to someone who lost wallet? ›
Words like:
- I'm here for you; you're not alone.
- What can I do to help?
- How can I ease your pain?
- I don't know what to say.
- I can't imagine what you're going through.
- You've been through a lot; it's normal to feel angry and upset.
- I'm so happy you're alive and safe.
- I'm here for you if you need to share.
If you've found a wallet, don't worry. There are plenty of ways to get it back to the rightful owner. Everything from doing some online sleuthing, dropping it inside a mailbox, turning it over to the police, and calling their credit card company are all viable options.
What percentage of lost wallets are found? ›
You're better off losing wallets in some places than others.
About four in five of those items never saw their owners again. Transport for London told me that the owner-reunion rate for lost wallets and purses in Fiscal 2021 was 22.6 percent.
Most states make it a theft crime to keep lost, mislaid, or misdelivered property without using reasonable measures to find the owner. Even though you did not steal the money by taking it directly from its owner, you are holding the money belonging to another and not trying to return it.
Is it wrong to keep money you find? ›
If you leave the store or area with the money and take no other action, you may face accusations of theft. There is a chance no one will notice or care about it. There is also a chance that the owner of the money will return to where they lost the funds. They may ask questions and involve the store manager or police.
Is losing a wallet a big deal? ›
If someone stole your wallet, that person could use the information in it — such as the personal information on your driver's license or Social Security card — to steal your identity. They can then take out loans in your name or open credit card accounts using your information.
What do police do with lost wallets? ›
When police receive a lost wallet, it's filed with the property department. A clerk in that department will attempt to contact the owner using some of the same tactics mentioned above. The wallet will also be held safely should the owner call to report it missing and find out if anyone turned it in.
Where would a lost wallet be? ›
Places to Look if You Have Lost Your Wallet
- The pants you wore the day before.
- The inside or outside jacket pocket.
- Near where your laptop is, or couch, or wherever you may have made an online purchase.
The person from whom you take the money does not need to be nearby for it to be considered theft. They could have been gone for days, but the money is still theirs in the eyes of the law. So taking any money you find on the ground or at a checkout lane may be construed as theft.
What are the chances of finding a lost wallet? ›
If you lose your wallet — as opposed to someone stealing it — don't despair. The odds are good that someone will return it to you. A study published in the journal Science in 2019 found that more than 50% of people that found lost wallets contacted the owners of the wallets if those wallets had any cash in them.
How often are lost wallets returned? ›
You're better off losing wallets in some places than others.
About four in five of those items never saw their owners again. Transport for London told me that the owner-reunion rate for lost wallets and purses in Fiscal 2021 was 22.6 percent.
