What are chip cards?
A chip card–also called a smart card or an EMV card–is a debit/credit card that contains a microprocessor that enhances the security of cards during point-of-sale transactions.
These cards, already in use in much of the world, 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. The EMV technology has been adopted by the other major card brands and issuers.
How is the chip card more secure than my current card?
Chip cards add an additional layer of security to the safeguards that already protect your card. Each time you use your chip card, it generates a code that is unique to that transaction. This makes it harder to counterfeit your card or to use it fraudulently for in-store purchases.
If you have questions, please call (254) 412-2000 or visit one of our locations.
What is a chip card and why am I getting one?
Chip cards are debit cards that have an embedded chip which provides you greatly enhanced protection when you pay in a store or at use an ATM that accepts chip cards.
How does chip technology protect my information?
Whenever you use your card at a chip-activated terminal, the embedded chip generates a one-time use code. This code is virtually impossible to counterfeit and helps reduce in-store fraud.
How do I know if I have a chip card?
If you have a chip card, the chip is located on the front of the card. You will still have a magnetic strip on the back so that you can use it at merchants who don’t yet accept chip cards.
How do I know if a merchant terminal accepts chip cards?
Chip-enabled terminals have all of the features you are used to with a payment terminal, with the addition of a slot to insert your card. If the terminal is chip-enabled and you swipe your card, the terminal will prompt you to insert your card instead.
How do I use my new debit chip card?
First, insert the chip end of the card into the chip-activated terminal with the chip facing up. Then, keep the card in the terminal throughout the transaction and follow the prompts on the terminal screen. Finally, remove your debit chip card when prompted and take your receipt.
Where can I use my chip card?
You can use your card at millions of places that accept Visa cards, at home and abroad.
Can I swipe my card to pay?
Yes. If a merchant is not yet chip-activated, you can continue to swipe your card.
Can I use my chip card at the ATM?
Yes. If the ATM is chip-enabled, simply insert the chip end of your card with the chip facing up. Your card will remain in the ATM until your transaction is complete.
How does a chip-enabled card work for online and telephone transactions?
Your Internet and telephone transactions will work just as they do today.
Can I still use my old debit card?
The debit chip card replaces your current non-chip debit card. Your old debit card will be deactivated 14 days after your new debit chip card is issued. After it is deactivated you will not be able to use your old debit card.
Will my card number be the same?
Your new debit chip card will have a new card number. You will need to contact any merchant that uses your debit card for regularly occurring payments and provide them your new debit card information.
Will I have to change my PIN?
Your PIN will remain the same.
What do I do if I have not received my debit chip card in the mail, and it has been more than two weeks?
Please contact American Bank at 254-412-2000