What is CardValet?
CardValet is a card management and fraud mitigation tool that enables cardholders to control when, where and how their debits are used.
- Location-based alerts and controls: location controls restrict transactions to merchants located within a certain range of each cardholder’s location (using the phone’s GPS); transactions requested outside of the specified range can be declined.
- Usage alerts and controls: Users can establish spending limits to allow transactions up to a certain dollar value and declines transactions when amounts exceed pre-defined thresholds. Transactions can be monitored or controlled for specific merchant categories such as gas, hotel, travel, restaurants and groceries. Transactions can also be monitored and controlled for specific transaction types: in-store purchases, e-commerce transaction, mail/phone orders and ATM transactions.
- On/Off Setting: When the card is “on” transactions are allowed in accordance with each cardholder’s usage control settings. When the card is “off” no purchases or withdrawals are approved until the card is turned back “on”. This control can be used to disable a lost or stolen card.
- Financial features: CardValet enables cardholders to conduct limited card-related transactions wherever they are, any time of the day, including balance inquiries and locating ATMs.
CardValet is available in the Apple and Android app stores and is FREE for Unico Bank customers to use.