Citibank has equipped its debit card users with its popular Citi Quick Lock feature, thereby granting them more control over their financial security.
The feature, which had previously only extended to Citibank credit card holders, will allow users to lock their debit cards online or on their Citibank Mobile App, blocking new transactions while allowing previously approved recurring payments to continue.
Unfreezing an account is just as simple as freezing an account: it can be accomplished by simply logging into the Citi cite, or by using the mobile app.
Other major financial institutions, like Wells Fargo and Bank of America, have long since granted their debit card holders similar control over their accounts.
The company’s decision to give its debit card members this power reflects the app’s popularity among Citi credit card members: they have made about 900 requests to freeze their cards per day since its launch last month.
Along with the Quick Lock feature, Citibank is also set to launch a host of new security-oriented mobile apps, including ATM/Debit Card PIN reset and activation of new cards, Mobile Check Deposit with increased limits, and others.
Read more at: Huffington Post and PYMNTS.