EMV Chip Visa Debit Cards
We are mailing new EMV Chip Visa Debit Cards to current personal and business cardholders. Here are a few things to keep in mind when you receive your new card:
- The new card will need to be activated. Your current non-chip card will be deactivated as of August 14, 2018.
- The expiration date on the new card will be different. If you have any recurring payments set up using your debit card number, you will need to notify those merchants of the new expiration date.
- Your card number and PIN will remain the same.
What's an EMV Chip Card?
We all use our debit and credit cards for shopping, eating out and buying groceries. Soon you can do so with the added security benefits of an EMV chip card. The new cards are nearly impossible to counterfeit, and travel will be even easier in more than 130 countries where chip cards are already used. EMV chip cards do everything magnetic stripe cards do, but even more securely.
How is the EMV Chip Card more secure?
The embedded microchip provides unique data specific to your card and the transaction being processed. These security features make your new chip card extremely difficult to counterfeit. In addition, when an EMV Chip Card is used in a chip terminal, the payment information is "tokenized", meaning that instead of your actual card information, what is sent is a randomly generated string of numbers that is only valid for that one transaction. Therefore, if a merchant is breached, any stored payment information is useless.
How do you use it?
- Insert your chip card into the ATM or point of sale terminal, following the instructions on the terminal. You may be asked to choose between debit or credit. You may choose either option. It is important to leave the card in the terminal until your transaction is complete. If you remove your card too soon, the transaction will end and your purchase will not be processed.
- The ATM will require that you enter your PIN, as you do today. The point of sale terminal may require you to input your PIN or sign your sales receipt to complete your purchase.
- For sales transactions, the terminal will display your purchase amount.
- When your transaction is complete, it is important to remember to remove your card.
Can you use your card for everyday transactions or at non-chip terminals?
Yes - your EMV Chip Card will also have the usual magnetic stripes on the back so you can continue using your card at ATMs and point of sale terminals with merchants who have not yet converted to new terminals.