Important Updates to your Walden Savings Bank Debit Card

MasterCard® recently implemented several changes on all of their debit and credit cards, which includes Walden Savings Bank personal and business debit cards. Theses updates are designed to add additional security and convenience features for our customers.

The highlights below provide an overview of MasterCard® Automatic Billing and 3D Secure, the two newest features offered on your Walden Savings Bank debit card.

1. What is MasterCard® Automatic Billing? Some merchants keep your debit card number on file and bill the card regularly for automatic payments and subscriptions. For example, gym memberships and utility companies, but, this could apply to any company that keeps your card on file for regular billing. Currently, if you have a new card issued for any reason (expired, lost, stolen) you will have to contact each merchant that keeps your card on file and provide them with the updated card information. With the automatic billing updater, the new card information will automatically be sent to the merchant and your new card will be charged.
2. What are the benefits to MasterCard® Automatic Billing?  If you have a replacement debit card issued for any reason, you will no longer need to contact each and every merchant you have provided your card to. This will be updated automatically. Payments will continue to be processed with the new card number.
3. Are all customers enrolled in MasterCard® Automatic Billing?  Yes, by default all customers with a Walden Savings Bank Debit card have been enrolled in this service and it is in place now. You may however, choose to opt out of this service.
4. Why would a customer opt out of MasterCard® Automatic Billing?  You may have a merchant that continues to charge your debit card despite the fact that you have requested this to stop. For example, a gym that continues to charge a customer each month even though they have cancelled their membership. In this case you may decide to cancel your current card to stop the payments from being processed. With automatic billing in place, the payments would be charged to the new card number. Here we would advise you to opt out of automatic billing to prevent further payments from being taken out.
5. How does a customer opt out of MasterCard® Automatic Billing?  You may opt out of Automatic Billing by calling our contact center at (845) 457-7700 or via email at [email protected].
6. What other new security features are being offered on my Walden Savings Bank debit card? MasterCard® is upgrading their current Secure Code program to their new 3-D Secure Service. All MasterCard® debit and credit cards are automatically enrolled, there is no additional action for you to take at this time. For customers currently using the MasterCard® Secure Code program, please note that this has been replaced with the new 3-D Secure Service as of November 6, 2017.
7. What is the new MasterCard® 3-D Secure Service?  The MasterCard® 3-D Secure Service is an authenticated payment system for online transactions. This service offers safe and secure online payments by adding an additional layer of verification to online payments. It will no longer be necessary to enter a separate password to take advantage of this additional protection.
8. What if I have additional questions? Please reach out to our Contact Center at (845) 457-7700 or via email at [email protected].