The incidence of credit card fraud and theft has increased in recent years partly due to the widespread adoption of online banking. As a credit card holder, you might be worried if you’ll fall victim to credit card fraud and lose your hard-earned money to cybercriminals. Fortunately, there’s a simple yet effective way to stop this type of fraud in its tracks, and that is to lock your credit card to prevent unauthorized transactions.
There have been reports of credit card fraud where thieves managed to steal credit card information and charge unauthorized purchases to the victim’s account. One famous example involved Senator Sherwin Gatchalian whose credit card was used by hackers to order ₱1 million worth of food. There are countless similar incidents that have went unreported by the media.
Such incidents of credit card fraud might be enough to worry you and keep you awake at night, but do you know that you can lock your credit card to prevent fraud and theft? Banks like BDO will allow you lock your credit or debit card through your online banking account or mobile banking app. By locking your credit card, hackers will not be able to use it for unauthorized online and offline transactions even if they have your complete card details.
Locking your BDO credit or debit card will prevent card-based transactions such as ATM withdrawals, in-store purchases and online payments. However, you will still be able to send money, pay bills and perform other transactions through BDO online, mobile and phone banking using your current or savings account.
Furthermore, any enrolled recurring transactions using the locked BDO card will be declined. You can use a different card or unlock your BDO credit card before the scheduled transaction to avoid any inconvenience. You can unlock your card anytime through the BDO online website or mobile banking app.
How to Lock Your BDO Credit Card via BDO Online Banking
Here are the steps to lock your BDO credit card through the BDO online banking website. Take note that you still need to have a BDO mobile banking account because you will have to generate the OTP via the app (at the moment, you can’t get the OTP via SMS).
Step 1: Login to BDO online banking. On the left navigation menu, click “My Accounts” and then “Security Management.”
Step 2: On the Security Management page, switch to the “Credit Card” tab.
Step 3: Toggle on the “Unlock/Lock Card” button for your card. Click “Submit.”
Step 4: Review your details and then click “Submit.”
Step 5: Enter the one-time password (OTP) which you can generate via the BDO mobile banking app (just click “OTP Generator” on the app). Click “Submit” when you’re done.
Step 6: Congratulations! You’ve successfully locked your BDO credit card. Take note of the reference number. You will also receive an email confirming your security management update.
How to Lock Your BDO Debit/ATM Card via BDO Online Banking
You can also lock your BDO Visa or MasterCard debit card to prevent unauthorized withdrawals and purchases. BDO gives you the ability to set the ATM withdrawal and purchase limits for your debit card as an extra layer of protection and to minimize your potential losses in case of fraud or theft.
Step 1: Login to BDO online banking. On the left navigation menu, click “My Accounts” and then “Security Management.”
Step 2: On the security management page and under the “Savings and Checking” tab, toggle on the “Unlock/Lock Card” button.
Step 3: Optionally, you can click the “More Options” icon (gear icon) to disable overseas transactions and set withdrawal and purchase limits for your debit card.
Step 4: You now have the option to disable overseas transactions. These are debit transactions made outside of the Philippines via ATM and point-of-sale (POS) terminals as well as online transactions on websites and platforms that process payments abroad (for example: Amazon, Netflix).
You can also set the ATM withdrawal limit up to ₱200,000, and PIN-based and No PIN purchase limits up to ₱500,000 and ₱200,000, respectively.
Click “Save” to proceed.
Step 5: Review your details and click “Submit.”
Step 6: Enter the OTP which you can generate via the BDO mobile banking app (just click “OTP Generator” on the app). Finally, click “Submit”.
Step 7: You’ve successfully locked your card and set its transaction limits. You will receive a confirmation email with a summary of your actions and the reference number.
How to Lock Your BDO Credit or Debit Card via the BDO Mobile App
Locking your BDO credit or debit card via the BDO mobile banking app is pretty straightforward. It doesn’t allow you to set withdrawal and purchase limits but it gives you an easy and convenient way to lock your card in a hurry.
Follow these steps to lock your BDO credit card using the BDO mobile app:
Step 1: Open the BDO mobile banking app on your smartphone and login to your account.
Step 2: Tap the “More” option which you can find at the bottom-right corner. A sliding menu will open.
Step 3: Select “Security Management.”
Step 4: You can now lock your BDO credit card or debit card by tapping the toggle button. The button will turn red when the card is locked.
To unlock your BDO card, just go through the same steps and toggle the lock/unlock button. Don’t forget to lock your card again after you’re done with your transaction.
Wrapping Up
Credit card fraud can be worrisome but you can avoid falling victim to it by implementing a strong password for your online banking accounts and locking your credit card when it’s not in use. Make sure that you avoid clicking links on emails or text messages that are supposedly sent by your bank, and just go straight to your bank’s website or mobile app to perform your online transactions.
If you have any issues and concerns with your BDO account or card, you may call the customer service hotline (+632) 8631-8000 or 1800-10-631-8000 (PLDT toll-free) or email [email protected].
