Menu
Menu
CommBank adds lock feature for misplaced credit cards

CommBank adds lock feature for misplaced credit cards

Mobile app and NetBank feature allows customers to temporarily lock their credit card while they look for it

The Commonwealth Bank has added a new lock feature to its CommBank app and online banking service NetBank for customers who misplace their credit cards.

The feature allows customers to temporarily lock their credit card while they look for it and unlock it once found. Customers can also permanently cancel and re-order a new card through CommBank or NetBank.

The feature was borne out of research the bank conducted that showed 92 per cent of credit card holders said they would a find temporary lock function for misplaced credit cards useful. Also, 73 per cent said they would report lost or stolen cards sooner if they didn’t have to cancel their card without having the chance to find it first.

The bank’s research also found misplaced credit cards account for 61 per cent of all credit cards reported lost or stolen in Australia, resulting in seven million cancelled credit cards that later turn up.

This month, Commonwealth Bank opened an innovation lab inside its Sydney headquarters, where new product development will take place in collaboration with customers, partners, startups and industry.

The bank also launched in April Cardless Cash for CommBank app users to withdraw up to $200 once a day using a smartphone or nominate someone else to transact on their behalf.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the CIO newsletter!

Error: Please check your email address.

Tags securityCommonwealth Bank of AustraliaCommBank appnetbank

More about Commonwealth BankCustomersNetBank

Show Comments

Market Place

Computerworld
ARN
Techworld
CMO