Use Card Lock to prevent new purchases if you misplace your card. Here’s how it works, and popular ways to use Card Lock to protect your finances.
You’ve enjoyed a nice evening out, only to get home and realize you forgot your credit or debit card at the restaurant. At least you think it was at the restaurant. Or maybe it fell out of your pocket at the movie theater? We’ve all been there – the feeling of alarm as you try to retrace your steps and track down your card. All while hoping no thieves find your card first. The good news? Now you can lock your card! So, what is Card Lock, how does it work, and can it protect your money? Here’s what you need to know.
What is Card Lock?
Card Lock is a security feature which allows you to block new authorizations on your debit card and/or credit card. If you misplace your card, locking can prevent criminals from using your card, until you need to report the card as Lost/Stolen. When you report a card as Lost/Stolen, we will issue you a new card and number. If you are using Card Lock and find your card, you can unlock and use it as normal.
How does Card Lock work?
If you lock your card, any new transactions will be declined. If there’s an attempt to use the locked card, we’ll send you (the cardholder) an alert. We’ll contact you by Push Notification, SMS Message, or Email, letting you know the card declined because it has a “locked” status. Your card will remain locked until you decide to unlock it. In addition, there is not a limit to how many times you can lock your card.
Worried you’ll forget which cards are locked? We have you covered! You’ll see which cards are locked when you log into Online Banking or the Mobile Banking App.
What Transactions are Allowed While Locked?
Any recurring or automatic charges set up correctly by the merchant will still process as normal. When a merchant sets up a recurring payment, part of their process is adding an indicator to show the transaction will happen repeatedly. For example, streaming services, subscriptions, memberships, or automated billing payments will continue to work.
A few examples of recurring, automatic bill payments can include:
• Cell phone bill
• Gym membership
• Utility bill
• Cable or streaming service bill
• Magazine subscriptions
• Subscription boxes for food, clothing, beauty, and pet supplies
The merchant will need to set up any recurring charges correctly, otherwise Card Lock will block the transaction. You likely won’t need to take any action – setting up a recurring transaction is something the merchant indicates on their side. Also, when it comes to subscription services, they can be useful, but the cost can add up quickly. Here are five tips for budgeting your subscription services.
When Should you use Card Lock?
If you misplaced your card, and can’t find it, lock your card to prevent new purchases until you find it. Your card will be locked until you choose to unlock it, so if you give up looking for the card, report it Lost/Stolen and we’ll reissue you a new card.
Aside from keeping your money safe, there are other popular ways to use Card Lock.
• Control spending – Small purchases here and there can add up quickly. If you’re wanting to limit impulse buying, consider keeping your cards locked until you need to make a purchase. The short window of time it takes for you to unlock your card, may help you decide against buying something you may not need.
• Rarely used credit cards – Locking credit cards you don’t use very often can give an extra layer of protection. Having a long history with a credit card increases your length of credit, which positively affects your credit history. So, if it’s not a card you regularly use, consider locking it instead of closing the account.
• Preventative protection – It may be a good idea to lock your card if you hear about a breach somewhere you normally shop, or recently purchased from. Card Lock blocks the card number, so it will prevent the fraudster from using the card’s information, even online.
How to Lock your Card
To lock your card, log into Central Bank Online Banking or the Mobile Banking App. Under Card Management, select Card Lock. Toggle the switch “off” to lock your card and block new transactions. Any existing, recurring charges will still process while your card is locked. Ready to unlock your card? Just toggle the switch “on” to allow all transactions.
Using Card Lock is not a substitute for cancelling your card. If your card is truly lost or stolen, the most important step to protect your account from unauthorized use is to report it to your bank. As always, we’re here to make banking easier for you. If you have any questions about Card Lock, or if we can assist you in any way, don’t hesitate to contact us.
FAQs
Card Lock is a security feature that allows you to block new authorizations on your debit and/or credit card. If you've misplaced your card, blocking can prevent criminals from using it without reporting it as lost or stolen. Once you find your card, you can unlock it and use it normally.
What does locking your card do? ›
Card Lock is a security feature which allows you to block new authorizations on your debit card and/or credit card. If you misplace your card, locking can prevent criminals from using your card, until you need to report the card as Lost/Stolen.
Can you still get money if you lock your card? ›
When you place a lock on your debit or ATM card via Online or Mobile Banking, it will prevent most types of card transactions from being processed until you take action to unlock your card. Any virtual cards linked to the locked card will also be locked.
How do card locks work? ›
Keycard systems operate by physically moving detainers in the locking mechanism with the insertion of the card, by shining LEDs through a pattern of holes in the card and detecting the result, by swiping or inserting a magnetic stripe card, or in the case of RFID or NFC cards, merely being brought into close proximity ...
Can you still get deposits if your card is locked? ›
Locking your card will stop all withdrawals and debit transactions with your card. Deposits and any previously authorized transactions will not be blocked. Monthly fees will continue to apply to locked cards. You can unlock your card at any time.
Can money be deposited into a locked account? ›
Key Takeaways
You can still receive deposits into frozen bank accounts, but withdrawals and transfers are not permitted. Banks may freeze bank accounts if they suspect illegal activity such as money laundering, terrorist financing, or writing bad checks.
Does locking a card prevent refunds? ›
Past and pending purchases and cash transfers that haven't yet posted to your account will not be affected by locking the card, and neither will credits or refunds related to past purchases.
Can people still send money if your card is locked? ›
Locking will typically prevent new transactions but leave automatic payments, such as bills, bank fees, and subscriptions, enabled. It also won't stop transactions that you initiated before locking the card. After locking, you may still be able to pay with the card using a digital wallet.
Can I still withdraw money if my debit card is locked? ›
Locking your card is fast and can ensure no new purchases, cash advances or withdrawals will be accepted. However, recurring transactions to merchants may still go through.
Can I get a refund if my debit card is locked? ›
If the card is just temporarily locked, it will need to be unlocked first prior to the merchant attempting the refund, otherwise, it will be declined. If the refund is declined, please unlock your card and then have the merchant re-attempt the credit.
Locking your credit card will block any new or pending transactions, but it won't stop recurring or previously authorized charges from processing.
Are card locks safe? ›
Reducing the Risk of Unauthorized Entry
Because key card door locks are electronic, they are more difficult to pick or bypass than traditional locks. This provides an added layer of security and makes it more difficult for unauthorized individuals to gain access to your property.
How long does a debit card lock last? ›
Different card locks last for as long as the card owner requires it. They may turn it on or off as needed to protect their card information and their account.
Will a payment go through if I lock my card? ›
No, a debit card lock generally doesn't stop the processing of any recurring or automatic bill payments, such as your credit card payments. The main purpose of locking is to prevent someone from using your card for new, one-off purchases or withdrawals, like going on a shopping spree or getting cash from an ATM.
Can I still access my money if my account is locked? ›
Your bank account can be locked for multiple reasons, which can mean trouble for your finances. When a bank account is locked or frozen, you can't withdraw money, transfer money, or access your account during the lockout period. If it's a checking account, you may not be able to use your debit card, either.
Will an ACH go through if my card is locked? ›
Some activity will continue to be allowed such as debit transactions that you authorized before you locked your account, monthly maintenance fees, transactions crediting your account, ACH debit transactions that use your account and routing number (i.e. Direct Deposit), recurring bill payments, mobile check deposit, ...
Is it a good idea to lock your debit card? ›
If you misplace your debit card, locking it is an instant, temporary way to prevent new transactions should it fall into the wrong hands. However, locking your debit card typically won't stop recurring transactions like credit card payments.
Is it a good idea to lock your credit cards? ›
Help prevent credit card fraud: Lock your credit card right away if you get a credit monitoring alert or read a news report about a data breach at your credit card company. If your account is compromised, the lock may protect it from thieves attempting to make unauthorized purchases.
What will happen if I lock my credit card? ›
Which transactions are locked? When you lock a card, new charges and cash advances will be denied. However, recurring autopayments, such as subscriptions and monthly bills charged to the card, will continue to go through. Typically, so will bank fees, returns, credits, interest and rewards.
Does locking your credit card stop transactions? ›
When your card is locked, all cash advances, purchases and withdrawals either online or in person will be declined.
