EMV Chip Cards
UKFCU is excited to offer Visa credit and debit chip cards to our members. Ultimately, chip card technology offers stronger security and better protection against fraud. Chip cards are nearly impossible to counterfeit. Each card contains a microprocessor that authenticates your identity during the transaction. UKFCU wants to share information with our members about the new cards.
Want More Information About Chip Cards? We’ll Walk You Through It.
Q: What is a chip card?
A: Chip cards look like regular debit and credit cards but include a special microchip to keep you more protected. Each time you make an in-store transaction with a chip-reading payment terminal, the microchip generates a unique, one-time code. The encrypted code helps prevent fraud and is virtually impossible to replicate in counterfeit cards. For even more security, chip cardholders are also protected by Visa’s Zero Liability policy.*
Paying with a chip card is simple. Because they also include a magnetic stripe, you can swipe it like any other card or insert it into a chip-reading payment terminal. Chip cards are becoming more and more common, and so are chip-reading payment terminals. You have probably already seen them at large retailers.
Q: Does the chip store my personal information?
A: No personal information about your account is stored on the chip card.
Q. When will I get my new Visa credit or debit card?
A: UKFCU will issue a Visa chip credit card when your current Visa credit card reaches its expiration date. You may have already received one of these cards.
In February 2016, UKFCU members will start receiving new chip debit cards to replace their existing debit cards. These are new cards with new card numbers and will require activation and PIN selection. You can start utilizing the benefits of your new, more secure, cards, in just a few easy steps.
Step 1. Activation & Pin Selection
Call the activation number located on the sticker on the front of your new card. Follow the prompts to select your Personal Identification Number (PIN).
It is very important you know your PIN. With the added security of our chip-enabled cards, merchants may require you to enter your PIN for purchases on your debit and credit cards.
Once you activate your new card and select your PIN number, your existing non-chip card may be destroyed.
Step 2. Update Recurring Payments
Your new card has a different card number, expiration date, and security code. Update any recurring payments that use your old card information for example: iTunes, Apple Pay, Paypal, Gym Dues, Etc.
Step 3. Resume Usage – A Small Chip with Big Protection
Your UKFCU Visa Debit Card with built-in chip technology gives you greater fraud protection when you use your card at a chip-activated terminal. Your new card is not only more secure – it’s also easy to use.
Cards will be shipping soon. If you don’t receive your new card by May 31, please contact UKFCU.
Q: Will my debit card information change?
A: Yes. Your card number will change. If you have any automatic payments set up using your card, be sure to update your card information so you won’t miss anything.
Q: Will my credit card information change?
A: No. your chip credit card number will be the same as your existing card. However, your chip card will include a new expiration date and a new security code. If you have any automatic payments set up using your card, be sure to update your card information so you won’t miss anything.
Q: Can I still use my old card?
A: No, your new chip card will replace your existing card; please activate and begin using the new card when you receive it. On top of enhanced security and global acceptance, your chip card will have all the same features and benefits as your existing card. Plus, your new card will still have a magnetic stripe, which means it can be used anywhere Visa is accepted.
Q: Do chip cards eliminate fraud?
A: While chip cards offer more security than magnetic stripe cards, we cannot guarantee your protection against all forms of fraud. However because your security is important to us, we have invested in an enhanced fraud detection program, Falcon Fraud Detection, that constantly monitors all purchases. This program searches for purchasing patterns, time frames, geographic locations and identified fraud trends to spot fraud. Anytime our program notices suspicious activity, we contact the cardholder immediately.
Q: Where can I use my chip card?
A: Because chip cards include a magnetic stripe, you can use them anywhere you use your existing card. You can insert it into a chip-reading payment terminal, enter the card number online, swipe it just like your existing card or use it at an ATM.
Q: I’m not sure I’ve seen a chip-reading terminal. Is there anything different about how I pay?
A: Every day, more and more retailers are transitioning to chip-reading payment terminals. These terminals look just like magnetic stripe card readers, but include a slot just for chip cards. Paying at a terminal is easy.
- Insert the chip end of your card chip-side up into the terminal and follow the prompts on the screen.
- Once you’ve inserted your card, you’ll need to keep it inside the terminal until your transaction is complete.
- Once your transaction is complete, the terminal will prompt you to remove your card. Depending on the transaction, you may need to sign for your purchase.
- Don’t forget to remove your card.
Q: Why do I need to leave my card in the terminal?
A: In order to prevent fraudsters from using stolen data, chip cards generate a one-time transaction code while inside the chip-reading terminal. Because these cards need a moment to generate this code, your transaction will be canceled if you remove the card too soon.
Q: Can I still swipe my card to pay?
A: Of course. In addition to a secure microchip, chip cards also include a magnetic stripe on the back, just like your existing card. So if you need to make a payment at a retailer without chip-reading payment terminals, you can simply swipe your card to pay.
Q: Do I need to enter a PIN to pay with a chip credit card?
A: No, there is no need to enter a PIN when using a credit card. You will simply insert your card into the chip-reading payment terminal and follow the prompts on the screen.
Q: Will I still earn rewards with my chip credit card?
A: Yes, you can enjoy all the same great rewards you do with your existing UKFCU credit card.
*Covers U.S.-issued Visa Debit/check cards only. Does not apply to ATM transactions or PIN transactions not processed by Visa. Individual provisional credit amounts are provided on a provisional basis and may be withheld, delayed, limited, or rescinded by your issuer based on factors such as gross negligence or fraud, delay in reporting unauthorized use, investigation and verification of claim and account standing and history. You must notify your financial institution immediately of any unauthorized use. Transaction at issue must be posted to your account before provisional credit may be issued. For specific restrictions, limitations and other details, please consult your issuer.