CU*Answers recently announced that its CU*BASE EFT Platform offers credit unions an added level of protection against fraudulent attempts of accessing funds through the use of an ATM or Debit Card by  providing its clients the capability to set daily online limits to protect from fraud. The CU*Answers Gividends EFT Team has recently seen certain credit unions take losses for fraudulent transaction approvals by their card processor where ATM/ Debit online limit values were not in place with their network vendor.

CU*Answers says it was able to activate a “Check Limits” feature within its CU*BASE Platform to offer protection against future losses for these clients. CU*Answers announced it had notified all of its online AFT/ Debit card clients about this added layer of CU*BASE protection, even in the event a credit unions EFT card processor already uses Limit Checking as part of their transaction approval processing.

CU*Answers stated that once this feature is activated, any ATM withdrawal, point of sale PIN Purchases or Signature Authorization will be approved for each cardholder based upon the dollar amount values found in the CU*BASE Online PIN or Online Signature Limit fields. They said CU*BASE also keeps track of the Remaining Limit Amount as transactions are processed.

CU*Answers said the Remaining Limit Amount value is refreshed to the full Daily Online Limit Amount during each End-Of-Day Processing cycle performed.