Thursday, February 23, 2017

MobiMoney - Take control of YOUR Debit Card!

Tired of data breaches where your Debit Card info gets hacked and money is taken from your account? We are too! Take control of your debit card and help stop fraud with our new MobiMoney phone app. With the MobiMoney app you can turn your Debit Card off and on, set lower dollar amounts for approved transactions, receive notifications on transactions, and other controls.

The Credit Union would recommend that you use this FREE app to turn the card off/on as necessary and set a dollar amount for approved individual transactions that you normally perform, like $150.00 to $200.00. Setting notifications for some specified dollar amount is also a good tool to make sure that only you are performing transactions on your debit card. If a hacker attempts a $500.00 transaction in California and you have these controls on, that transaction would be denied plus you will receive an instant alert through your phone on the transaction. You can always change your max dollar amounts for transactions so long as they don’t exceed our daily institution cap of $1,500.00 per day. (Controls can be changed live on the spot at any time using the app.)

To download the FREE app go to your Play Store or iTunes and search for “MobiMoney”. After downloading the app enter your MasterCard Debit Card number to enroll in the FREE service. IMPORTANT: Please remember or record your “Username” so that you can reset your password later if you forget it.

There is no worse feeling in the world than having your MasterCard Debit Card in your possession and having a counterfeit card transaction take place, stealing money from your account. This FREE MobiMoney app can help to prevent that nightmare situation from happening.

Personally, I use this MobiMoney app to turn my debit card off when not in use. (Just remember to turn back on before use!) When the card is turned on I have a lower dollar amount maximum in place that I can change on the spot of a retail store if necessary. I also have set transaction notifications to be sent on transactions above $50.00. These would go through but I would see them immediately which would be helpful if one came through that I didn’t do.

Please note that each joint owner would need to enroll their own cards since card numbers vary by each owner or joint owner. If the credit union had a majority of members using this MobiMoney service for their MasterCard Debit Cards, unauthorized fraud losses would decrease dramatically. Protect yourselves and take control using MobiMoney! 

CLICK HERE for a short video on the MobiMoney app by our card processor, Vantiv!