Limiting the operational range of a bank or credit card
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Contents
Scope
What are the ways an owner of a bank card or a credit card can limit the operational range of his/her card.
Definition
Data
In the EU, national bank cards will be replaced by Europe-wide cards in the near future (#REF). Cards that only work on a limited area, are more difficult to utilise in case they are stolen.
This system only gives benefit, if the operational range of a card can be checked online during an attempted purchase.
Causality
Unit
Formula
Result
The user should be able to limit the area where his/her card works to any combination of geographical areas or websites. This setting should be easily changeable e.g. in the web bank. The setting could be limited to the owner's home country, and the owner can temporarily change it beforehand if he/she is travelling abroad or planning to buy something unusual from the Internet. The user should also be able to limit the way the card is used with more flexible ways than just the monthly limit. For example, purchases larger than a defined sum must be informed via the web bank beforehand. This way, the user is able to describe his/her own ways of using the card, and thus maximising the risk of the thief to get caught by buying too expensive things or from a wrong place.
