Debit Card Updates
Our customers’ security remains a top priority and we have updated our debit cards to ensure you continue having convenient access to your accounts, while also limiting the potential for fraudulent activity.
Beginning April 30, 2018, Walden Savings Bank debit cards will have a daily spending limit of $5,000. Additional information around this update has been provided below:
- Why is a daily spending limit being placed on my card? Should your debit card be lost, stolen or compromised for any reason, having a daily spending limit will reduce the potential exposure for fraudulent activity.
- Are there limits on ATM and Point of Sale Transactions as well? Yes, Personal Customers have a daily limit of $500.00 per day for ATM withdrawals and pin based purchases, where business customers have a limit of $1,000.00 per day for each of these transactions. These limits are in place already and remain in effect.
| Transaction Type | Daily Limit |
| Debit Card Purchases - Signature Based- Business & Personal | $5,000.00 |
| Pin Based (Point of Sale) Purchases & ATM Withdrawals - Business | $1,000.00 |
| Pin Based (Point of Sale) Purchases & ATM Withdrawals - Personal | $500.00 |
- What if I need to make a debit card purchase greater than $5,000.00? Please contact us and our team will provide additional assistance with your request.
- Can I choose lower daily spending limits for my debit card? Yes. Both personal and business customers may set their own transaction limits via the CardValet Mobile App. In addition, business customers may impose separate limits for all authorized card users. If lower limits were already put in place, these will remain. Otherwise, both personal and business debits cards will default to a daily spending limit of $5,000.00.
- What is the CardValet Mobile Application? CardValet is FREE for customers and allows you to decide when, where and how your debit card is used by setting spending limits or even which types of merchants your card may be used at.
Your debit card may be turned off with the click of a button if lost, misplaced or even when not in use to protect against fraud and theft. Real-time alerts ensure that your cards are used only by you. Simply download the CardValet Mobile App via the Google Play Store or the Apple App Store.
For any additional questions or concerns, please reach out to our Contact Center.
