Have you ever lost or misplaced your debit card? Now some banks are offering a simple app for your cellphone that will allow you to protect bank accounts quickly while you figures out whether you lost or misplaced your card.

Questions:
1. How does Bank of America’s version of the debit card lock work?
2. What are some of the other banks that have this technology?
3. How do these affect joint accounts?
4. Are the locks available on credit cards?
5. What is/are the biggest advantage(s) to banks?

Source:
Carrns, A. (2016). A Way to Lock Lost Debit Cards, From a Big Bank. The New York Times, Feb. 3 (Retrievable online at http://www.nytimes.com/2016/02/04/your-money/a-way-to-lock-lost-debit-cards-from-a-big-bank.html)