PSBank introduces ‘lock feature’ for ATM cards

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Philippine Savings Bank (PSBank), the thrift bank arm of Metrobank Group, has recently launched the lock and unlock feature of its automated teller machine (ATM) cards to prevent loss in case of theft and other electronic fraud schemes possible.

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“Our clients’ security and convenience are important to us. With the PSBank ATM Lock feature, which they can perform anytime, we are able to provide our clients a simple and reliable tool that would protect their hard-earned savings from ATM card-related fraud incidents,” said Emmanuel Tuazon, PSBank’s senior vice president and head of Marketing and Customer Experience Group.

A PSBank ATM cardholder can access the lock and unlock feature through the bank’s mobile app downloadable through Apple Store or Google Play.

Clients can lock or unlock their ATM card through the app and receive a confirmation, while also being notified on their registered email address.

By turning on the lock feature via app, the ATM cards cannot be used for ATM or point-of-sale (POS) transactions, nor online purchases that require clients to provide ATM card numbers. On the other hand, cardholders can still pay bills and transfer funds through PSBank’s internet banking facility, PSBank Mobile or over-the-counter.

“The ATM Lock feature is a new service that provides an additional layer of protection to PSBank ATM cardholders from ATM loss, theft, skimming, and other card-initiated electronic fraud. It allows clients to lock their ATM cards from use for as long as they prefer, and unlock them when needed,” the bank said.

PSBank’s ATM Lock feature is accessible only through PSBank Mobile App for clients who have the following PSBank accounts: PSBank Instant ATM Savings, PSBank Passbook with ATM, PSBank Debit MasterCard, PSBank Prepaid MasterCard, and PSBank Flexi Personal Loan ATM.

It is also available to PSBank Online users by simply activating their mobile access. Soon, the service will be available via SMS for all networks.

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