EMV Chip Card

Increasing Security and Reducing Fraud

Peoples Exchange Bank is issuing new Visa® Debit Cards enabled with the added security of chip technology to offer more protection against fraud and theft at the register.

What does EMV mean?

It stands for Europay, MasterCard and Visa, the payment networks that developed the new EMV chip security standard.

Why the chip?

When used at a chip-enabled terminal, the chip in your card uses your account information to generate a one-time code to approve each transaction. This "dynamic" code is an added layer of security that makes it virtually impossible for fraudsters to copy or counterfeit your card.

When will I receive my new card?

We are in the process of sending out the new VISA® Debit Cards to all of our cardholders, so there is no need to request one. You will receive your new Visa® Debit Card with chip technology in the mail before your current card expires. If you are planning on traveling internationally or have an immediate need for a chip card, please contact our customer service center at (800) 364-3631.

How to activate and begin using my new chip debit card?

Activate your new chip card by calling the number on the sticker attached to the front of your new card, by making an ATM transaction or purchases with your PIN. Please note that your PIN will remain the same,

Do I need to sign the back of the card?

Yes. You still need to sign the back of your card.

Can I still use my current card?

You can use your current card until you get your new chip card. At that time, activate your new chip card and start using it. As a security measure, your old card may be deactivated after we issue your new chip debit card. Be sure to destroy your old card by cutting it up or shredding it.

Will I need to update my account information for automatic and recurring payments?

Yes, you will need to update your account information for any automatic or recurring bills with your new card number, expiration date and 3-digit CVV security code. Please note that your PIN will remain the same.

What's different about an EMV card and my previous card?

The biggest difference is that a traditional debit card relies solely on a magnetic strip, which stores your account information. That information never changes - which makes it easy for data thieves to steal and use for fraudulent purchases. The chip card adds 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.

How are chip cards used?

Instead of swiping the cards at checkout, you will insert your card into a slot on a chip-enabled terminal with the chip first, facing up. You will leave the card in the terminal until the transaction is complete. You may be prompted to sign your name before the transaction is complete.

Where can I use my new chip card?

Your new card can be used at any retailer that accepts VISA in the U.S. and around the world since it will have both a magnetic strip and chip.

What if the merchant isn't using a chip-enabled terminal?

You will swipe your card to make a purchase, just as you do today. Chip cards will continue to have the magnetic strip on the back, allowing them to work in regular terminals for purchases at a store without the new chip technology.

How will I know whether to use the chip and PIN?

If you swipe your card at an EMV chip-enabled terminal it will prompt you to insert your card instead.

Contact us for more information

If you have any questions about your new Peoples Exchange Bank VISA® Debit Card with chip technology, please call (800) 364-3631.