Lloyds Banking Group launches card freezing

Tuesday 16 July 2019 11:21 CET | News

Lloyds Banking Group has announced it will freeze customers’ credit cards if they have lost them at home or abroad.

The new service from UK-based bank by customer accounts, comes some years after a number of digital rivals, such as Starling Bank and Monzo first pioneered this move. However, the group said the new service will initially only be available for its Halifax and Bank of Scotland customers. It added the feature will be launched “soon” for its Lloyds Bank and MBNA credit card customers.

The banking group said Halifax and Bank of Scotland customers can freeze their credit card through their mobile app, allowing them to stop it being used in a number of different ways. It said customers who have mislaid their cards can simply “freeze card” transactions. Once they find it, they can “unfreeze” with ease, by switching on or off buttons in the card management area of their mobile app.

The group, which serves 26 million customers, added these new options come in addition to new customer controls introduced for debit cards in August 2018, which allows debit card customers to freeze usage abroad, online and remote, and freeze at tills or terminals.

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Keywords: Lloyds Banking Group, card freezing, Halifax, Bank of Scotland, cards, credit cards, payments, bank account, UK, Europe
Countries: World