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Ally Bank rolls out debit card controls mobile app

By Finextra

Ally Bank, the direct banking subsidiary of Ally Financial Inc. (ALLY), today announced the launch of a new service that will allow debit card customers to set control preferences to match their desired usage profile and change them instantly when needed, all with a touch on a smartphone app.

The Ally Card Controls™ app features the immediate ability to turn a debit card on or off, set location aware controls, transaction types, merchant types and amounts with a single touch. The app is available to both checking and money market account customers with active debit cards and Android® or Apple® devices. Customers can access the card controls by logging in to the Ally Bank mobile app and tapping on settings in the main menu.

“At Ally, we continuously innovate and strive for exceptional convenience for our customers,” said Diane Morais, Ally Bank chief executive officer and president. “Giving Ally Bank customers the ability to proactively control, monitor, and manage card usage with the tap on the Ally Card Controls app provides cardholders peace of mind related to their debit card.”

On/Off Feature – Having the instant ability to turn a debit card on and off when it is misplaced or stolen.

Spend Limits – The ability to set weekly or monthly spend thresholds for transaction amounts puts the power in the hands of the cardholder. It also provides customers a great way to manage their spending.

Location Awareness Controls – This setting allows cardholders to keep their debit card active around their phone, or only within a specified region on a map. A consumer can choose to deny card present transactions across geographical regions, defined regions on a user-specified map, and international purchases. Accompanying these controls are transaction status based alerts which alert consumers when a transaction outside of the specified regions has been denied.

Choose Merchant Categories and/or Transaction Types – The app will also allow customers to enable or disable specific categories of merchants such as groceries, fuel, entertainment or travel, to control card usage. In addition, cardholders can disable online shopping to avoid unauthorized purchases, and turn it on instantly when required.

“Consumers want to manage their financial matters anytime from anywhere, and the ability to customize card usage using the Ally Card Controls app is just another example of how we aim to ‘Do It Right’ for our customers,” added Morais.

First appeared at Finextra

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