By: Kim Schaller, Card Services Officer
The recent Equifax breach proves that anyone and everyone is vulnerable when it comes to ID theft and credit card fraud. It is important for all consumers to become proactive in both protecting and monitoring their information and accounts.
State Bank of Cross Plains offers a powerful tool called CardValet to help our customers better protect and manage their credit and debit cards.
CardValet Helps Monitor AND Prevent Fraud
CardValet is an app on your mobile phone that can add extra protection for your State Bank of Cross Plains credit and debit cards. Features include:
- Turn your SBCP debit and credit cards “on” or “off” at any time using your mobile phone. No one can use your cards when they are “off.” Turn them back “on” when you’re ready to use them for instant access.
- Set up alerts to receive notification whenever your cards are used.
- Define areas where your card can be used. Areas can be defined geographically (specify your zip code or your region) or can be regulated within a certain distance from your mobile phone location (you have to be “with” your card for it to work).
- Limit purchases by type of merchant. You can make purchases at gas stations and grocery stores possible, but “turn off” the ability to use your card online or at electronics stores, for example, unless you give specific permission. Personalize CardValet to your own spending habits.
- Set limits on dollar amounts. Want to protect yourself against large purchases if your card information is stolen? Select a limit per transaction.
All features can be changed instantly, enabling you to make adjustments to accommodate travel or unusual one-time purchases. You can also set up alerts so you can monitor your accounts in real time for suspicious activity, helping to shut down fraudulent activity immediately.
More than Fraud Protection
CardValet offers a variety of features that go beyond fraud protection to simply help you manage your spending. For instance:
- Manage your budget. Trying to stay on budget for groceries or clothes? Set spending thresholds, specify merchant types and turn your cards on and off.
- Set different parameters on each card. Each card entered into your CardValet app can be set up with individual limits or controls…perfect for parents and employers!
- Review balances and transactions. Monitor your finances anytime, anywhere to check account balances or review recent card transactions.
CardValet is easy to set up and use.
- Download the CardValet app from Google Play or the App Store.
- Enter your SBCP credit cards and debit cards. Since each member of your family with an SBCP credit card gets a unique card number for extra protection, you can choose to enter additional cards carried by your spouse or children (or employees). Remember, since CardValet is an exclusive service from our card processor, only credit/debit cards from SBCP will work in the CardValet app.
- Answer basic questions to set your alerts and limits. These can be changed at any time in your CardValet settings.
- Watch this video to learn more and walk you through the process.
- Call SBCP’s toll free call center with any questions: 1-855-256-7328
CardValet puts the power of fraud monitoring in your hands. You have the ability to protect and monitor your accounts to match your own spending habits and preferences. to learn how you can take advantage of this powerful tool.