CardValet Puts You in Control of Debit Card Spending
By Cindy Cabbage
It’s 2016, and nearly everyone uses debit cards. We use them so often that sometimes we don’t even think about it. They make our lives easier in many ways. But they are not without their drawbacks. They can get lost or stolen. They make it easy to overspend. They can make it hard to stay within limits in shared accounts. What if I told you that a new product could lessen these downsides? Actually, such a product does exist, and it’s called CardValet.
With CardValet, you can turn your debit card on or off at any time. You can do this from your mobile device, and CardValet will immediately implement your action. Beside this manual control, you can also pre-set certain thresholds for limits or alerts. These thresholds may be based on where the card is used, how much total spending is allowed, or even how much spending is allowed for certain expense categories. These features benefit you by allowing you to:
Protect Yourself from Theft
If you suspect that your card has been lost or stolen, your first priority is to stop any activity. CardValet gives you the ability to put a hold on all further transactions until you have found your card or determined that it was indeed stolen. Additionally, if you find that your card was simply misplaced, you can turn it on again. These actions are simple and easy to do and can be done without having to make a call, wait on hold, or explain your situation. Furthermore, when the limits of location or total spending are breached, charges will not be allowed and you will be alerted.
Limit Spending by Children
Deciding how much financial freedom to give to kids can be tricky. You want them to test their wings, but you don’t want them to overspend. CardValet provides a helpful tool for transitioning kids from financial dependence to independence. Parents can oversee and set limits on teenage kids’ spending. In this way, they can experience freedom while still have some boundaries.
Set Boundaries for Business Expenses
If you run a business, you may want to have a similar balance with employees. You want to give your employees the freedom to purchase required business items. Yet you don’t want to give them an opportunity to take advantage of this freedom or to be wasteful in their purchases. Again, with CardValet, you can set the limits beforehand and keep everyone happy.
Control Your Own Spending
Well, we’ve looked at protecting your finances from thieves, from children, and from employees. But let’s face it, sometimes we are our own worst enemy. We set a budget and then promptly forget about all those goals and limits we’ve set. CardValet helps you to stick to your budget by predetermining your limits. This tool makes it easy for you to recognize when you’ve reached the limits that you’ve set for yourself.
The bottom line is that CardValet helps put you in control of your debit card spending. It is a valuable tool that allows you to decide ahead of time where you want to spend, what you want to spend on, and how much you want to spend. CardValet is now available on your Federated Bank debit cards. You can visit our website to learn more or come in and talk to us about any questions you have.
