Tower has implemented a new feature called Mastercard® Automatic Billing Updater (ABU) for all debit and credit cards.
Mastercard ABU can help reduce the chance of declined transactions, missed payments, late fees, or disrupted services due to outdated card information.
How does ABU work?
You authorize a merchant to use your Mastercard debit or credit card for recurring payments. Types of recurring payments may include phone, cable, gym memberships, magazine subscriptions, utilities, and more.
Your card expires and you receive a new debit or credit card from Tower with an updated expiration date.
Mastercard automatically shares your new card expiration information with merchants you use who participate in the program.
Are all of my payments automatically updated?
No. Not all merchants participate in Mastercard ABU and the frequency at which they validate payment information varies.
As the cardholder, you still bear the primary responsibility for updating your card information for any recurring payments. To avoid late payments and penalties, you must check with your merchant to ensure your card information (card number, expiration date, CVV code, etc.) has been updated and is accurate.
Does Tower have a list of participating merchants?
Tower does not maintain a list of participating merchants, as the list changes frequently and is too large to manage on an ongoing basis. Contact merchants directly to ensure that they have your correct card information for any recurring payments.
Can I decline the ABU service?
Yes, however, you would lose the benefits of ABU.
If you wish to opt out of Mastercard ABU, you may do so by completing the Mastercard Automatic Billing Updater Opt-Out Form; stop in to a Tower branch; call the Member Service Center; or send a secure email in Digital Banking using Email Manager.
What happens if my card is lost or stolen?
If your Tower debit or credit card is lost or stolen, once you receive and activate your new card, you will need to contact any merchants with whom you have recurring payments to ensure that they have your new card information and expiration date.
Who can opt out of the ABU service?
For both debit and credit cards, the primary cardholder must opt out. Once the primary cardholder opts out of ABU, all cards under his or her account will be opted out.