US-based OneWest Bank has added Card Controls functionality to its mobile app to allow better management of debit cards and prevent potential fraud.
Leveraging the new feature, consumers will be able to set spending limits, opt for transaction alerts, specify merchant categories and choose regions where the card can be used.
Cardholders can additionally disable certain locations or merchant categories from spending. The on-and-off switch feature offers security in case the linked debit card is lost or stolen.
OneWest Bank head of retail banking Heather Ellison said: “Both convenience and security are increasingly important banking features within the marketplace and we’re pleased to deliver this digital solution for our customers.
“Card Controls provide consumers another opportunity to take control of their finances in a simple and straightforward fashion.
“With holiday shopping at its peak, Card Controls can help consumers keep their spending in check. What’s more, having a quick solution if a card goes missing can alleviate concerns about the possibility of an account being compromised.”
OneWest Bank, a division of CIT Bank, provides in-person as well as online savings and lending solutions to consumers and small businesses.
Besides the new Card Controls capability, the bank’s app allows customers to deposit checks, view account balances, pay bills and transfer funds.