By now you have probably heard about Chip Technology and you may even have a credit card in your wallet with a microchip. We’re working on bringing you Fremont Bank debit chip cards in early 2016. In the meantime, here are some important things to know about this new technology.
1. Chip Technology is the gold standard of payment systems.
Chip Technology, also called EMV (Europay-MasterCard-Visa), refers to the embedded microchip that appears on the front of your debit or credit card. The microchip provides a more secure way of paying at chip-enabled terminals by encrypting your information and using a unique code with every transaction. The dynamic data that the microchip delivers reduces the risk of fraud.
2. Using a chip card at a chip-enabled terminal might take some getting used to.
The largest change when using your chip card at a chip-enabled terminal is that you may have to insert your card, leave it there for the whole transaction and remember to remove it when you’re done. Simply insert your card face up, chip first into the chip-enabled terminal. Follow the prompts on the terminal and wait for the transaction to be processed. You may be required to sign or use your PIN to complete the transaction. Remove your card after the transaction is complete and you are prompted to do so by the payment terminal.
3. You can still swipe your chip card.
At retailers without chip terminals, you can still swipe your chip card and proceed as you normally would. Over the phone or online provide your card information the way you always have when you’re ready to make a purchase.
If you have any questions, ask a Fremont Bank Associate. Our Associates were the first ones to receive the new Fremont Bank debit chip cards, paving the way to our debit card conversion. They’re testing and getting used to the chip cards first, so they can assist you if you have any questions about the security or new card benefits.
Have a question about Fremont Bank chip cards? Check out our FAQ.