a young couple looking at a laptop with a credit or debit card in hand

Card Services

Debit & Credit Card Services


Debit Card

A Lake Elmo Bank MasterCard® chip card works like a check, only better. When you make purchases, the amount is deducted directly from your checking account – but you also enjoy added conveniences and security protections.

Just use your Lake Elmo Bank MasterCard® when you are ready to pay. It works fast, so there’s no need to write checks or fumble for change. Improve your money management with an up-to-date balance as our debit card transactions post live as you use your card.

For your convenience a new or replacement debit card can be created instantly for you at our Lake Elmo Office. 



Credit Card 

Business Credit Cards Consumer Credit Cards
Choose from our popular business credit card options such as low rate, cash back or flexible rewards to find the one that works best for your business.

• Free online expense reporting tools.
• No fee for additional employee cards.
• Mobile payment capability for added convenience.
• Zero Fraud Liability.* You won’t be liable for fraudulent purchases
when your card is lost or stolen.
• Cardmember Service available 24 hours a day/365 days per year.
Choosing the right credit card is easier than ever. Whether you want to pay down balances faster, maximize cash back, earn rewards or begin building your credit history, we have the ideal card for you!

• Convenient and Flexible Purchasing Power. Accepted at millions of
locations worldwide.
• Mobile purchasing capability for added convenience.
• Zero Fraud Liability.* You won’t be liable for fraudulent purchases
when your card is lost or stolen.
• Cardmember Service available 24 hours a day/365 days per year.
• Plus much more!

If you are a non-profit, municipality or a large corporation call 651.777.8365 or contact us to request that we send you a Community Card or Corporate Card application as these are not available online.

Card Management helps you control your cards through your online or mobile banking, making it easy to set alerts and manage your finances on the go.

Fraud Protection
  • Real-time alerts keep you informed when your cards are used
  • Transaction controls allow your cards to work only in specific locations or geographic areas
  • When your cards are "off," no withdrawals or purchases will be approved

Control Spending

  • Set spending limits for general use or specify thresholds by merchant types, such as gas, groceries or retail stores
  • Establish controls by location and change parameters via your mobile device

Business Use

  • Use transaction controls for merchant codes, locations, transaction types and thresholds to ensure employee spending adheres to company policies
 
Added Protection to Keep Online Transactions Secure
MasterCard SecureCode® gives you an additional layer of online shopping security. When checking out online at a participating merchant real time authentication is taking place. Behind the scenes SecureCode is looking at the device you are using, geolocation, card transaction history, number of attempts and more.

If a transaction is suspected of being fraudulent you will receive a message at checkout to contact your bank for further verification.

Accepted Around the World
More than one million online merchants in 122 countries support transactions made with MasterCard SecureCode®.
How do I report my Lake Elmo Bank debit card lost or stolen?
 
  • Call Lake Elmo Bank during regular business hours at 651.777.8365.
    • Monday – Friday 8:30 – 5:00 PM CST
    • Saturday 9:00 – Noon CST
  • Call Lake Elmo Bank after hours number and take the option to report your card lost or stolen.  This will automatically direct you to the after hours fraud team. Call 651.777.8365.
Debit Card Fraud Center 
Lake Elmo Bank offers 24/7 real-time monitoring of fraudulent debit card activity. When a suspicious debit card transaction occurs, you will be notified immediately by text message. You can follow the instructions and reply directly by text to allow this transaction or flag it as fraud. If no response is received by text, contact attempts will be made by email and phone.

They will never ask you for your card number as they have it so never give anyone your card number over the phone or in an email.

💡 To avoid your card from being temporarily closed down by either Lake Elmo Bank or the Fraud Center, please contact Lake Elmo Bank prior to traveling to ensure your card remains open and available for use.
MasterCard Automatic Billing Updater
One of the biggest problems for merchants who process debit or credit cards on a recurring basis is maintaining accurate credit or debit card information on file. In any given year, roughly 50-70% of MasterCard® and VISA® cardholders will change their account information. This places a heavy burden on merchants to reach out to customers and capture the updated information. If consumers are properly informed of the terms and give their full consent to recurring card charges, auto-renewal methods can benefit both the individuals and the businesses involved.

Automatic Billing Updater prevents disruptions due to account changes and extends the life of automatic payment arrangements by helping secure these ongoing revenue-generating relationships while locking in revenue, reducing processing costs, maintaining service continuity, and strengthening cardholder satisfaction.

How it Works
 
  • Merchants enroll through their processor
  • Card issuers (Lake Elmo Bank) submit electronic files with updates when a cardholder’s account information changes.
  • Card Issuers are required to send these file updates within two business days and are strongly encouraged to send them daily to ensure that account-on-file merchants have the advantage of the latest authorization data.
  • The merchant’s credit card information is sent to their processor who then processes inquiries against its database and provides responses.
  • Participating merchants are required to update their customer account databases in accordance with Terms of Use.
How cardholders benefit
 
  • Does not interrupt bill payment
  • Eliminates late fees and service disruption
  • Provides greater convenience
Cardholders typically set up automatic payments using their MasterCard® cards for two reasons:

  1. Make payments easier
  2. Make payments on time without having to do anything
When Card-on-File is discontinued because of an account change, the cardholder may be unaware until the service stops—and that disruption is usually perceived by the cardholder as a sign of poor customer care. The MasterCard® Automatic Billing Updater is a systemic solution that helps maintain automatic payment transaction volume and boosts customer satisfaction while reducing customer service demand.

MasterCard® and VISA® have enforced these changes and is not controlled by financial institutions issuing credit and debit cards.

It is the cardholder’s responsibility to provide updated card information to the merchant. In order to stop authorized recurring payments, the cardholder must revoke their authorization with the merchant. The cardholder is liable for all authorized recurring payments and must provide proof of revocation in order to dispute a debit card transaction. Lake Elmo Bank is not responsible for any late or finance fees that may be charged if the MasterCard® Automatic Bill system does not update card information at a participating merchant. Cardholder cannot opt out of the MasterCard® Automatic Biller Updater program at this time.

MasterCard® offers many benefits that go along with your Lake Elmo Bank debit card. Below is a reference for the types of benefits MasterCard® offers:

  • Global Services
  • Shopper Benefits
  • Travel Services
To get detailed information on the benefits offered on your card type contact MasterCard® at 1.800.627.8372 . Certain terms, conditions and exclusions apply.

If you have any questions contact us at ebanking@lakeelmobank.com or 651.777.8365.
IMPORTANT: The personal email addresses provided for staff on this page are not a secure form of communication. Please do not include any personal information (i.e. Social Security Number, account number, date of birth etc.) For your security, please contact the Bank directly at 651.777.8365 or stop by one of our locations with questions about your existing account
From one login you are able to manage your Visa® credit card. This convenient online access allows you to make a payment, view transactions, e-statements, manage your rewards and much more! Login to CardMember Service.

Questions about your point balance or redeem points by phone contact the Rewards Center at 1.888.229.8864.

💡 You may also make your credit card payment by calling us at 651.777.8365 or stop in at any of our bank locations and a Teller will assist you.
  • To report your Visa® credit card lost or stolen please contact Cardmember Services at 1.800.558.3424

A Lake Elmo Bank debit card can be used to make withdrawals and deposits at an ATM. Our cardholders benefit with over 32,000 ATM's nationwide that are surcharge free.  To find the closest surcharge-free Moneypass ATM click here.

Please note, not all ATMs accept deposits. 


IMPORTANT: The personal email addresses provided for staff on this page are not a secure form of communication. Please do not include any personal information (i.e. Social Security Number, account number, date of birth etc.). For your security, please contact the Bank directly at 651.777.8365 or stop by one of our locations with questions about your existing account.

*Elan Financial Services provides zero fraud liability for unauthorized transactions. Cardholder must notify Elan Financial Services promptly of any unauthorized use. Certain conditions and limitations may apply.
The creditor and issuer of these cards is Elan Financial Services, pursuant to separate licenses from Visa U.S.A. Inc., and Mastercard International Incorporated. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.