AUGUST 3, 2016 – NBT Bank announced it is now offering CardValet®, a new card management tool for retail and business debit cardholders. The mobile card application enhances fraud monitoring and protection services NBT Bank already provides customers by allowing cardholders to monitor their accounts directly with their smartphone and control when and where their debit card is used. Cardholders simply download the free app from the Apple® App Store or Google® Play Store, and then they can actively manage their debit cards.
“With this new and powerful debit card management tool, our cardholders can set parameters how their debit card is used,” said Joseph Stagliano, Executive Vice President of Operations and Retail Banking at NBT Bank. “It’s easy to ‘turn off’ their debit card from their smartphone, and then ‘turn on’ their debit card when they want to use it.”
The on/off feature is only one of the safeguards available with CardValet. Using the GPS system in the smartphone, geographic use restrictions can be established. Other controls can restrict usage by merchant and spending limit. Real time alerts create another layer of fraud protection with notice that a transaction was attempted, declined or both.
Real-time smartphone alerts can be customized based on the types of information each cardholder would like to receive. For example, a cardholder can set up an alert to be notified when a card is used, when a transaction is approved and exceeds any of the permitted use policies, or when a card transaction has been attempted but has been declined based on the parameters established.
“CardValet also offers the capability of linking additional accounts to better monitor dependent spending, which is a valuable feature consistent with our iStrive® products for youth and young adults and our Strive® financial education programs,” said Stagliano.
CardValet is also ideal for businesses. All transactions can be monitored or controlled for specific merchant categories, such as travel, restaurants or entertainment, and can be denied or reported for types of merchants deemed not business-related.
“CardValet is ideal for users who want to actively manage their cards,” Stagliano said. “Not only is CardValet user-friendly and convenient, but it will aid in our continued efforts to prevent fraud and identity theft for our cardholders.”
NBT Bank also recently introduced MyCardCreation for debit cardholders, which allows customers to customize their debit cards with one of their own personal photos. Android® Pay and Samsung® Pay are also now available to NBT Bank debit cardholders in addition to Apple® Pay which was made available to NBT customers early in 2015.
For more information about CardValet or other NBT Bank products and services, visit www.nbtbank.com or call 1-800-NBT-BANK.
NBT Bank offers personal banking, asset management and business services through a network of 154 locations in six states, including New York, Pennsylvania, Vermont, Massachusetts, New Hampshire and Maine. NBT Bank and its parent company, NBT Bancorp Inc., are headquartered in Norwich, NY. NBT Bancorp had assets of $8.6 billion as of June 30, 2016, and is traded on the NASDAQ Global Select Market under the symbol NBTB. More information about NBT Bank and NBT Bancorp can be found online at www.nbtbank.com and www.nbtbancorp.com.
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