Security Banking Corp., and Rizal Commercial Banking Corporation (RCBC) have introduced a lock/unlock feature to their ATM cards in order to prevent unauthorised transactions and cyber threats.
The new security measures on the debit cards enable the debit cardholders to turn off and on their card functionality remotely, including withdrawals and other card-related transactions.
Security Bank fraud management division head Jopet Jocson said: “Customers can lock their cards for as long as they prefer and just unlock it when needed.
“They can also utilise the lock feature whenever they temporarily misplace their card or when they are travelling to prevent unauthorised charges.”
One the cardholder blocks their card, the card is rendered useless and it cannot be used for ATM withdrawals nor point-of-sale (POS) and online transactions.
Additionally, Security Bank has added a new feature, which allows users to reset the ATM pin count whenever the customer is locked out of an account due to failed pin input attempts.
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Every time customers use this lock/unlock feature, they will get an SMS and an email with a unique transaction reference number.
Security Bank’s lock/unlock feature can be used through Security Bank Online (SBOL) for which users need to log in to SBOL, click accounts, and choose Manage ATM Card.
Separately, RCBC has also added the similar remote lock/unlock feature for its debit and prepaid cards.
RCBC digital banking group head Margarita Lopez said: “Given the recent increase in cyber threats and ATM skimming in the country, we wanted to provide our customers with a feature that will allow them the option of protecting their debit or prepaid cards in the quickest way possible.”