Chip Card FAQs

What is EMV?

EMV is an acronym that stands for Europay, MasterCard® and Visa®. They are the founding companies for chip card technology. EMV is a payment application that resides in a computer chip embedded in a credit or debit card. The application specifications were developed by Europay, MasterCard®, and Visa® in order to help fight fraud. The specifications define a set of requirements that ensure compatibility between payment chip cards and card terminals.

The term “EMV” and “chip card” are interchangeable.

EMV has been widely used in Europe for many years, and the U.S. card issuers are now taking steps to make EMV the standard payment application for enhanced card security. The adoption of EMV will require financial institutions, payment networks, card issuers, payment processors, and businesses to make substantial changes to card issuing, transaction authorization and related processes as well as point-of-sale and/or ATM equipment.

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Why the change to chip cards?

The move to chip cards is intended to reduce fraud in the card payment system and to increase international acceptance of cards issued by U.S. issuers.

While magnetic stripe technology can usually be used in countries where EMV is prominent, some merchants now require customers to use a chip card.

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How do chip cards work?

During a payment transaction, the chip performs cryptographic processing by assigning a unique code to each transaction. This helps prevent the transaction data from being fraudulently reused. Chip processing takes place only when the card is used at a chip-activated terminal.

A chip terminal is a point-of-sale (POS) device or ATM that is able to process chip transactions. Instead of swiping your card, you insert it in a chip terminal and leave it in the terminal until the transaction is complete. If a merchant does not have a chip terminal or if their chip terminal is not yet activated, transactions will be processed by swiping the card’s magnetic stripe just as they are processed today.

Make sure you remove your card from the terminal before leaving the merchant’s premises! This is a common challenge people face when getting used to using a chip card.

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Where are chip cards used today?

Chip cards are in use throughout Europe and in most of the Middle East, Asia, Canada, Mexico, Brazil, Chile, and Africa.

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When will I be able to get a chip card?

We will issue chip cards in phases. Commercial cards are now being issued with chip. Credit cards are expected to be available in summer 2015. Debit cards are expected to be available in fall 2015.

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How do I get a chip card?

Once chip cards are available, we will be issuing them for new cardholders, expired cards, lost/stolen cards and replacement cards. We will also be replacing cards for our existing cardholders for both credit and debit. Please make sure your contact information is up-to-date with the bank.

You can verify and update your information by logging in to Online Banking and selecting Services>My Preferences>Address/Email Preferences from the top navigation menu. If you are not enrolled in online banking, please call the number on the back of your card or visit one of our branches.

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Is there a fee for ordering a chip card?

No. There is no fee for a chip card. If you request expedited replacement of your current card, however, we may charge a fee based on delivery method.

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If I am traveling outside of the U.S. before the chip card is available, can I still use my current card?

Yes, subject to our fraud monitoring and ATM limits, you may continue to use your magnetic stripe card outside the U.S. Please notify us in advance of traveling abroad to better ensure your legitimate foreign transactions are not declined. Magnetic stripe-only cards are still accepted outside the U.S. though some “unattended” kiosks (parking meters, gas station pumps) may take only chip cards. For foreign travel, we recommend that you consider having another method of payment available just in case.

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What type of fraud prevention is available with my card?

We take card security very seriously and have sophisticated fraud detection services in place:

      • 24/7 Fraud Monitoring – We always monitor your accounts for suspicious activity and attempt to contact you when we see something out of the ordinary. To ensure the best possible service, you should maintain accurate contact information with the bank and take advantage of our other fraud fighting tools like Mobile Card Fraud Alerts and Purchase Alerts.
      • Mobile Card Fraud Alerts1 – You can receive near real-time alerts of potentially fraudulent card activity on your mobile device or by email. Enrollment is available through Online Banking.
      • Purchase Alerts®2 – You can receive one-way text notifications on certain purchases. Enroll by logging in to Online Banking, navigating to the “Services” tab, and selecting “Purchase Alerts.”
      • Zero Liability®3 – Protects personal and small business customers against unauthorized transactions made with their Visa credit or debit card. Please visit www.visa.com for further details.

These services will remain available for use with your chip card. The chip will simply provide an additional layer of security.

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Can chip cards be used at contactless POS terminals?

No. Currently we do not plan to issue contactless chip cards. Chip cards will need to be inserted in a chip terminal.

If you have a contactless card, that feature will end when your card is replaced by a chip card.

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Will I still be required to sign for my credit card purchase?

If prompted by the chip terminal to do so, you will be required to sign for credit card purchases. Some merchants, however, do not have customer’s sign their receipt if the sale is below a certain amount.

For debit cards, you have the choice of signing or using your PIN if the merchant’s terminal supports PIN entry.

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Is my card considered “chip and signature” or “chip and PIN”?

Both “chip and signature” and “chip and PIN” refer to the way a card is authenticated at the terminal. Your card will be authenticated using chip and signature. Chip and signature offers the same cryptographic security as chip and PIN.

While most of the banks in Europe chose chip and PIN authentication, the US market has leaned toward chip and signature in an effort to ease transition by maintaining the current experience of signing receipts. We expect our customers will also appreciate not having to remember a separate PIN in order to complete their transaction. The terminal recognizes that the card is chip and signature and won’t prompt for a PIN, even if it’s used in Europe.

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Can I use my existing PIN with my chip card?

For credit cards, your existing PIN can be used for ATM-based transactions only. For debit cards, you can continue to use your regular PIN at chip terminals that support PIN entry.

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Can I use my chip card at an ATM?

Yes. At ATMs that are not chip-enabled, the transaction will be processed using your card’s magnetic stripe technology in combination with your PIN. At ATMs equipped with chip readers, the transaction will be processed using the chip technology in combination with your PIN.

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Will there be any changes to my account other than adding a chip to my card?

Your card account number and the benefits, terms and conditions of your account remain in effect. You will receive a new expiration date when you are re-issued a chip card.

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1. Mobile Card Fraud Alert Service — The bank does not charge for the Mobile Card Fraud Alert service. However, standard text message and data rates from your mobile phone carrier may apply. Available services are subject to change without notice. See Terms and Conditions for complete details.

2. Purchase Alerts require enrollment in Online Banking. Certain transaction notifications are sent to your email account and/or mobile device by SMS text. Message and data rates from your wireless provider may apply.

3. Cardholder is not responsible for fraudulent charges made with their card or account information as long as they promptly notify the bank of unauthorized card use. Does not apply to business ATM or PIN transactions. Disputed transactions must post to your account before provisional credit will be issued. For specific conditions, limitations, and other details, please call the number on the back of your card.