Toronto-Dominion Bank (TD) has added a new functionality to its mobile banking app that allows credit cardholders to temporarily block their cards to avoid overseas charges.
The capability is a first in Canada, TD Bank noted.
Go deeper with GlobalData
The cardholders now also have the ability to lock their Canadian credit cards, thereby blocking access to their accounts temporarily.
Once the credit card is locked, the cardholders will be unable to buy anything or make payments with their digital wallet. However, pre-authorised payments and charges can still be used.
Users can unlock the card as soon as it is found, without facing the hassle of reporting the card as lost or stolen.
TD senior vice president of Canadian credit cards Katy Boshart said: “Card controls can help our customers feel confident that their credit cards won’t be misused, while also minimising the inconvenience of cancelling or replacing a card if it’s temporarily misplaced.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“In addition, our new international block feature provides even greater security – giving TD credit card holders the ability to prevent unauthorised access to their card at international, in-person points of sale, providing additional peace of mind.”
The card controls can be used via TD (Canada) mobile app, and available on TD Visa consumer credit cards.
The Canadian lender also provides various fraud prevention solutions including TD Fraud Alerts and TD MySpend app, among others.
