EMV Visa Debit Card
EMV Visa Debit Card
The shift to EMV (chip cards) is well underway.
EMV, which stands for Europay, MasterCard, Visa, has been used in Europe for years and is now making its way to the United States. The First National Bank of Mifflintown will be mass reissuing our Visa Debit Cards by the end of October 2015 and customers should receive them shortly thereafter.
Since this is very new, here are a few frequently asked questions about the EMV cards:
Why are these cards more secure?
EMV cards contain a small computer chip. Each time this chip is read during a transaction, a unique code is generated that cannot be used again, unlike traditional magnetic stripe cards that contain unchanging data. This makes these cards virtually impossible to counterfeit.
How do I use it?
You’ll insert your card into the bottom of the merchant’s credit card terminal, where it will remain for the entire transaction. You’ll also be prompted to enter your PIN number, regardless of whether you’re running it as credit or debit. These cards will still have a working magnetic stripe that can be used if a merchant doesn’t have an EMV supported terminal.
Why do I leave my card in the terminal?
While your card is in the chip-enabled terminal, the embedded chip creates a unique transaction code. This prevents stolen data from being fraudulently used. If you remove the card too soon, your transaction will be cancelled.
Can I still swipe my card to pay?
Yes. If a merchant is not yet chip-enabled, you can still swipe your card.
Does my chip-enabled card work at the ATM?
Yes. You can still use your card to get cash, check your balance and more. Be sure to insert the chip end of your card into the ATM with the chip facing up. Your card will remain in the ATM until your transaction is complete.
Has my card information changed?
For your convenience, your card number has not changed. Your card may have a new expiration date, so be sure to update your information with billers that charge your card regularly.
Has my PIN changed?
No, you can still use the same PIN number with the new card.
Will I have to pay fees with my new card?
No, there are no additional fees to use your new card.
Am I liable for fraudulent charges?
As a First National Bank of Mifflintown customer, you will still not be liable if charges are proved fraudulent. The only difference is that some merchants are now on the hook for these charges, instead of Visa/MasterCard/Discover. If you present your card at a merchant that cannot accept chip cards, they are liable for any counterfeit fraud committed on the card as a result of it being used at their establishment.
Can I still use my card online?
Yes, you’ll still use your card online exactly like you’ve done in the past. The chip is only for transactions at a physical terminal.