ASB launches ‘Card Control’

Tuesday, 21 April 2015, 10:19 am
Press Release: ASB Bank

ASB launches ‘Card Control’ offering unprecedented card management features on-the-go

• In a New Zealand first, customers can manually restrict how and where a card can be used, including limiting overseas and online purchases and ATM withdrawals.
•
• 55,000 ASB cards reported missing each year – new temporary lock feature erases the need to immediately cancel a misplaced card.
•
ASB has launched a suite of new features via the ASB Mobile app allowing customers to manually lock their credit or debit card temporarily and impose a range of restrictions on how and where their card can be used.

“Customers have been telling us for some time that security is of the utmost importance to them, but we also know that they not only want, but have come to expect convenient ways to manage and control their money,” says Glen Martin, ASB’s Head of Credit Cards.

“Customers are no longer constrained to a one-sized fits all approach to how they use their credit and debit cards. Through ASB Card Control, the users of hundreds and thousands of ASB credit and debit cards will have the ability to customise their cards quickly and easily through their smartphone.”

One of ASB Card Control’s key features is the ability to place an instant temporary lock on a credit or debit card the moment you release it is missing. In 2014 ASB replaced around 55,000 credit and debit cards that were reported lost.

Mr Martin expects the New Zealand experience to be similar to Australia, where research* has indicated more than a quarter of Australian credit card holders have been unsure whether they actually lost a card or just left it at home or work and that the majority find cancelling and replacing a credit card a frustrating process.

Advertisement - scroll to continue reading

“We all know the frustration of realising your credit card isn’t where you expect it to be. You then drop everything to frantically retrace your steps to work out what might have happened to it,” says Mr Martin. “Now, instead of going through the process of immediately cancelling a card only to find it later, customers can use the ASB Mobile app to instantly place a temporary lock on the card’s use. This gives them peace of mind while they look for it with the ability to instantly unlock it again if they find it.”

In addition to temporary lock, ASB credit and debit card customers can use the ASB Mobile app to lock, block and limit their card for enhanced levels of control, knowing all functions can instantly be turned back on when they are needed.

• ATM cash withdrawals – Customers can disable their card from being able to withdraw cash from ATMs.

• In-store international transactions – Customers can disable international card-present transactions and can turn this on again when overseas using the ASB Mobile app.

• Contactless payments – Customers can disable contactless payments manually.

• Online transactions – For the security conscious, or the budget conscious, customers can now disable online transactions. This can be instantly turned on again using the ASB Mobile app.

• Set maximum limit per transaction – the ability to set the maximum amount the primary or joint card holder can spend in one transaction, to provide control over spending.

When a blocked function is used, a real time notification alerts customers on their mobile phone, which can remind them to instantly turn the lock off via ASB’s Mobile app or to contact ASB if they are concerned about fraudulent use.

All ASB’s credit and debit cards have no cardholder liability on fraudulent transactions, which combined with ASB Card Control, offers complete protection for the security conscious.

ENDS

ASB Bank

Helping you get one step ahead.

In 1847, ASB opened as the Auckland Savings Bank with the pledge: 'to serve the community; to grow and to help Kiwis grow'. And that is very much what ASB is about today.

ASB is a leading provider of integrated financial services in New Zealand including retail, business and rural banking, funds management and insurance.

ASB strives to consistently provide its customers with outstanding service and innovative financial solutions. They're dedicated to providing simple financial products that allow their customers to bank with them how and when they want.

We all have our own ways to measure progress, and our own stories about the things that matter to us. Whatever way you choose to measure progress, and whatever your goals, ASB is there to help you get one step ahead.