Consumer Chip Card Questions

Consumer Chip Card Questions

General

Why does my 1st Security Bank debit card now include a chip?
What are chip cards?
Can I use my chip card anywhere?
Can I still use my current card?
Do I still need to sign the back of my card?
Can I still get a non-chip card?
Will my card number stay the same?

Security

Are chip cards more secure?
Will chip cards prevent data breaches?
What information is stored on the chip?
Will chip cards be able to track my location?
What should I do if my card is lost or stolen?

Using Your Chip Card

How do I use my chip card at a merchant/retailer?
Will making payments at a chip-enabled terminal take longer?
What if a retailer doesn’t have a chip-enabled card reader?
How do I use my chip card at an ATM?
Can I still use my chip card to make purchases online or by phone?

Why does my 1st Security Bank debit card now include a chip?

Chip technology is becoming the security standard in the U.S. and many merchants are now accepting chip cards. You’ll enjoy greater security when making point-of-sale and ATM transactions at chip enabled terminals since the chip provides better protection against counterfeit fraud. You’ll enjoy greater acceptance when traveling internationally as chip technology is already used in much of the world, including Canada, Mexico and the United Kingdom.

What are chip cards?

A chip card - also called a smart card or an EMV card - is a debit or credit card that contains a microprocessor as well as a traditional magnetic strip that enhances the security of cards when making transactions at chip enabled terminals and ATMs. These cards use a security standard originally developed by Europay, MasterCard and Visa (EMV) as a way to fight card fraud resulting from theft, skimming and counterfeiting.

Can I use my chip card anywhere?

Yes. Chip cards can be used virtually anywhere Visa cards are accepted in the U.S. and around the world. Since your card has both a magnetic stripe and an embedded chip, you will still be able to ‘swipe’ your card to make point-of-sale and ATM transactions where only magnetic stripe transactions are accepted.

Can I still use my current card?

No. Your new chip card replaces your old card. Once you receive it, active your new chip card and destroy your old card by cutting it up or shredding it.

Do I still need to sign the back of my card?

Yes, for security purposes you should still sign the back of your card.

Can I still get a non-chip card?

No, 1st Security is committed to card security, and chip technology is an important, proven tool that helps guard your finances from counterfeit fraud. Consumer and Business debit cards will all transition to the chip.

Will my card number stay the same?

Yes. However, your expiration date and 3 digit CVV code located on the back of the card will change. This means you may need to update any recurring payments you may have with your new expiration date.

Are chip cards more secure?

Yes, chip card transactions add another layer of security to point-of-sale and ATM transactions when using chip enabled terminals by producing a unique, one time code that can’t be used again, to validate each transaction. This process protects against counterfeit fraud, one of the largest and fastest growing types of fraud, by making stolen transaction data virtually useless to crooks that try to use the data to make fake cards or purchases.

Will chip cards prevent data breaches?

While chip cards won’t prevent the types of large-scale data breaches that have hit some merchants, they do make it extremely difficult to produce counterfeit cards from that stolen data, and since each chip card transaction is unique, a specific transaction number can’t be used again.

What information is stored on the chip?

The chip stores information needed to complete your purchase, such as card number and expiration date.

Will chip cards be able to track my location?

No. Chip cards contain NO tracking information.

What should I do if my card is lost or stolen?

Be sure to report a lost or stolen card promptly by calling us toll free at 800-683-0973.

How do I use my chip card at a merchant/retailer?

Chip cards are easy to use, but there are some differences compared to using a magnetic stripe card.

Will making payments at a chip-enabled terminal take longer?

Yes. Leaving your card in the chip enabled terminal during the full transaction allows communication between the card, the terminal and the payment networks to verify the card and authorize the transaction. This could result in the payment process taking a bit longer than what you are used to.

What if a retailer doesn’t have a chip-enabled card reader?

If a retailer hasn’t switched to a chip-enabled card reader, don't worry! You will 'swipe' your card just as you do today.

How do I use my chip card at an ATM?

Can I still use my chip card to make purchases online or by phone?

Yes. There is no change to that process. Chip cards can be used to make these purchases the same way as is done today.