What’s more annoying than losing your credit card? Thinking you’ve lost it, calling the bank to cancel it, and then finding it five minutes later. So being able to apply a “temporary lock” is a potentially handy alternative.
Credit card picture from Shutterstock
Commonwealth Bank has introduced a “temporary lock” option in its online banking and mobile apps. If you think you’ve lost your credit card, switching on the temporary lock ensures no-one else can use it. If it turns up, you remove the lock. If it really is lost, you can apply for a replacement (and then go through the hassle of changing any regular payments from it).
It’s a simple ideas, but one that would be welcome for any credit card user. We haven’t spotted this from other Australian banks, but if yours does offer it, let us know in the comments.
Comments
3 responses to “Temporary Lock For Credit Cards Is A Neat Idea”
A lot of the credit unions, building societies and some banks offer the ability to restrict a card albeit via calling up however this services looks like it allows people to perform the lock themselves.
ING DIrect has had the lock functionality in their mobile app for over a month now. Not sure about getting replacement card in app though.
The CBA’s online banking options have always been a step ahead. The locking facility is very flexible too. I can disable overseas purchases only, or online purchases , that sort of granularity is very helpful and provides peace of mind when making online transactions. You can enable your card for a transaction, then when it’s cleared, disable it again.