{slider What does EMV mean?|closed}
EMV stands for Europay, MasterCard and Visa, the three companies that originally created the standard for chip cards.
{slider What is an EMV chip card?|closed}
Chip cards are regular plastic credit or debit cards with an embedded microchip. The chip protects in-store purchases with a unique one-time code for each transaction. A chip card also has a magnetic stripe on the back of the card and may still be used by swiping your card at non-chip terminals.
{slider How does it protect my information?|closed}
Whenever you use your card at a chip-activated terminal, the embedded chip verifies the chip and card match to help reduce in-store or point-of-sale fraud.
{slider Does this mean my card will be protected from all fraud?|closed}
Not exactly, EMV technology will not prevent data breaches from occurring which may result in card not present fraud (e.g. online shopping) since it uses the information from the magnetic stripe.
{slider How do I use my EMV chip card?|closed}
Follow these three steps to use your EMV chip card:
1. You will now insert the chip end of your card into the terminal with the chip facing up.
2. Keep your card in the terminal throughout the transaction and follow the prompts on the screen.
3. Remove your card when prompted and take your receipt.
{slider What if the merchant does not accept EMV chip cards?|closed}
If a merchant does not accept EMV chip cards yet, you can still swipe your card to pay. For online and phone purchases, there is no change to the process. If you are not sure which way to use your card the terminal or cashier will walk you through the process.
{slider Do I need a special wallet to protect my chip card from being scanned by a fraudster?|closed}
No. Our chip cards are not contactless cards. The only way they can be read is by inserting into an EMV capable terminal. Our cards will not have the Radio Frequency ID (RFID) that contactless cards have.
{slider What is liability shift?|closed}
The liability shift you may have heard about in the news does not affect you as the consumer. It applies to merchants and credit and debit card issuers such as F&A FCU. Before the October 1, 2015 deadline F&A took all liability for fraudulent charges, but after this date with EMV chip cards, any Merchant that does not have an EMV chip capable terminal will now be liable for the fraud.
{slider What is the difference between chip-and-PIN preferred and chip-and-signature preferred?|closed}
Chip-and-PIN preferred cards would operate as a debit card transaction does today. When processing a transaction at a chip-enabled terminal you would need to enter a PIN to complete the transaction. This could apply to a credit card transaction as well. F&A Debit Cards will be issued as chip-and-PIN preferred.
Chip-and-signature preferred cards would operate as credit card transaction does today. When processing a transaction at a chip-enabled terminal you would sign for the transaction. F&A Credit Cards will be issued as chip-and-signature preferred.
{slider Will I still be given the option to sign for my debit card purchase at a merchant?|closed}
It does depend on the merchant, but currently the majority of merchants are still allowing customers to choose to sign or enter their PIN for debit purchases.
{slider Will I be able to use my EMV card when I travel outside of the country?|closed}
Yes and no. Chip-and-PIN cards are the norm in most other countries that support EMV technology. So consumers with chip-and-signature cards (such as F&A Credit Cards) may find some merchants who are unwilling or unable to process their card, even though it does have an embedded chip. You will be able to process a credit card transaction at this type of merchant by using the PIN that was mailed with the card order or you personalized.
{slider If I use the PIN for my credit card when traveling outside of the country to make a purchase will that be considered a cash advance?|closed}
If you are making a purchase and the terminal is prompting for your PIN with your credit card it will still be considered a purchase. If you are at an ATM withdrawing currency that would be considered a cash advance.
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