Card Security at Your Fingertips: Are You – Your Student – Your Business – Using our Fraud Prevention Apps?

SecurityFraudApps-Blog

Controlling and monitoring your personal or business debit or credit card usage anywhere, anytime has never been easier with our FREE mobile apps My Mobile Money and SecurLOCK Equip.*

With these apps – My Mobile Money for your debit card and SecurLOCK Equip for your credit card – you can protect yourself or your business from fraud by setting custom alerts and controls per card to determine how it can be used. You can even add your child’s Merchants Bank card to monitor their spending and security with alerts as they start the school year.

 3 of Our Favorite Features

Merchants Bank staff uses the apps every day and want to share some of their favorite security features with you. Here are three features you can use to ensure you’re getting the most out of these apps.

Featured Staff

Tina Bechtel Tina Bechtel, Customer Service Representative and Lead Teller in Spring Grove.
Phone: Samsung Galaxy
Michelle Schroeder Michelle Schroeder, Customer Service Manager in Cannon Falls
Phone: Apple iPhone
Mike Swanson Mike Swanson, Commercial Banking Officer in Hastings
Phone: Apple iPhone
Marcus Krings Marcus Krings, Credit Card Manager in Winona
Phone: Apple iPhone

See Every Transaction with Alerts

What if every time your card was used your phone would buzz? You would be able to see how much you were spending on a regular basis. You’d also know immediately if your card was used without your authorization, and then be able to stop any other fraudulent transactions from going through. With our security apps, it’s easy to set up these alerts.

Or maybe that sounds like too many notifications. If you prefer, you can set up alerts for specific types of transactions, including:

  • When you are approaching spending limits you may have set
  • Transactions where your card is not present – such as when you shop online
  • International transactions
  • Purchases at specific kinds of stores, such as gas stations, grocery stores, etc

Our staff loves seeing alerts each time their cards are used and being reassured that the only activity on their cards is their own.

Tina: I’ve been able to detect and stop fraud right through the app. I have notifications turned on for all my debit card transactions and one day I got a notification for a charge that I didn’t recognize. I went into the app and turned my card off and called the Bank right away. Turns out the transaction was fraudulent and because I caught it and turned off my card, I was able to stop other fraudulent transactions that were being attempted.

Michelle: I can’t say enough about the notifications for all transactions. You could set this up to only notify you for transactions over a certain dollar amount, but I love seeing everything that goes through my debit card. For example, I really like seeing the notification for online automatic transactions, like Netflix. Sometimes I forget about automatic payments I have set up through my card, and now I get a little notification when the charge goes through. It’s perfect.

Marcus: I get the transaction alerts from SecurLOCK Equip within seconds of my credit card being used. Since the usage alerts are pretty much in real time, it allows me to react quickly if I see a charge that isn’t familiar. We had a customer contact the Credit Card Department about a fraudulent transaction he saw on his app, and our team was able to take care of it immediately.

Shut it Down – Turn your card off to prevent further transactions

Experience the immediate relief that comes with being able to control the use of your card. With these apps, you can turn your card off to stop any transactions going through. And once you’re ready to use your card again, you can turn it back on and it will be ready to use almost instantly.

Mike: My wife and I have used the on/off for our debit card more than once. If one of us misplaces our card…leaves it in the car, forgets it on the counter or something else, we can just turn it off on the app until we find it. If our cards really were lost, it would prevent anyone else from using them. It’s just nice peace of mind.

Michelle: I’ve had great experience with the on/off function too. I went on a trip to Florida and didn’t want my debit card on. I just went into the My Mobile Money app, slid the on/off setting to off and that it was it. It was that easy.

Marcus: Being able to turn your card off if you know you aren’t going to be using it or if a transaction is unfamiliar is such an asset. It’s all about continuing to minimize your risk of fraud. Limiting the opportunity for fraudsters to act is a crucial part of personal security.

Set Perimeters for Card Use

While transaction alerts and the on/off function give you significant control over your card’s security, the apps have other capabilities that can help minimize the risk of fraud.

Marcus: If you’re looking to shut down access to your card as much as you can to prevent fraud, try using location or types of merchant controls. If you know you never use ATMs, go ahead and turn off ATM functionality for your card. Of course, you’ll have to remember to turn that functionality on if you suddenly need to use an ATM.

Tina: I’ve used the location feature and that’s really handy. You just set up if you only want to allow transactions based on a city, region or state. Transactions attempted from outside that area are then automatically denied. Although, online purchases might be processed elsewhere, so that feature may block an online purchase.

Bonus Tip: Manage Your (Or Someone Else’s) Spending

With customizable controls, alerts for spending limits, and easy-to-find account balances, you can make sure you’re always on track with your budget.

You can also add your child’s bank cards, and receive alerts to see how they’re using them or set spending limits. For many students, going off to college is the first time they will be managing an entire budget. Help them learn about managing their finances and taking their security seriously by equipping them with the right tools.

This feature is also useful when a partner runs into a roadblock on a regular transaction. After all, two heads are better than one:

Mike: If you have more than one person on an account, like my wife and I have a joint checking account, you can have the My Mobile Money app track both of your debit cards on one phone. One time my wife was trying to buy groceries and I got a notification at work that her transaction was denied. I realized that I hadn’t moved our budgeted grocery money over to the right account and was able to use Merchants Mobile Banking to transfer funds so she could finish checking out at the grocery store. That was really handy.

You can download My Mobile Money Access for your debit card here for**:

And you can dounload SecurLOCK Equip for your credit card here for**:

Or you can download the apps anytime from the Google Play or Apple App stores. Or you can visit our website.

If you have questions about downloading the app or would like additional recommendations on its use for you or your business, contact your local Merchants Bank and ask to speak to a Customer Service Representative. Or stop in to see us, we’re happy to help however we can.

*Mobile fraud apps are free, however, text or data charges may be imposed by your mobile provider. Check your plan for details. Your carrier may limit access outside the U.S.

**You will be linking to another website not owned or operated by Merchants Bank, NA. Merchants Bank, NA is not responsible for the availability or content of this website and does not represent either the linked website or you, should you enter into a transaction. We encourage you to review their privacy and security policies which may differ from Merchants Bank, NA.