EMV Chip Card
Increasing Security and Reducing Fraud
Peoples Exchange Bank issues 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 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.
How to activate and begin using my chip debit card?
Activate your chip card as soon as you receive it 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.
Do I need to sign the back of the card?
Yes. You still need to sign the back of your card.
What's different about an EMV card and a traditional 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 chip card?
Your chip 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. 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 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 Peoples Exchange Bank VISA® Debit Card with chip technology, please call (800) 364-3631.