Enhanced Security for your Debit and Credit Cards
Icon Credit Union now offers debit cards with chip technology. The embedded computer chip provides more security and wider international acceptance.
A microchip embedded in the card adds a new layer of protection against fraud for purchases made at the point of sale. Information programmed into the chip is personalized for your account and each transaction generates a unique code, adding an extra safeguard against unauthorized use and counterfeiting.
These cards are already in wide use around the world and are now becoming the standard in the U.S.
Follow these steps to use your card at a chip-enabled terminal
If a merchant isn’t using a new chip-enabled terminal yet.
Swipe your card as you have in the past. Chip cards will continue to have the magnetic stripe on the back.
Online or phone purchases
Provide your card information as you have done in the past. Chip cards will not change the way payments are made online or by telephone.
At an ATM
The process is essentially the same as at a merchant. Insert your card, leave it in the ATM, and follow the prompts on the screen. Depending on the type of ATM, you might be prompted to re-insert your card. Leave the card in the ATM until the transaction is complete and the card is released, and then remove your card. A PIN is needed for ATM transactions.
When will the change happen?
Even though chip cards have started being issued in the U.S. and some merchants have already installed chip-enabled card terminals for payment, the entire conversion process, throughout the U.S. is expected to take a few years to complete.That’s why chip cards will continue to have a magnetic stripe on the back. That way, if a merchant’s terminal or an ATM is not yet chip-enabled, your transaction can still be processed using the magnetic stripe as it is today.
When will I get my chip card?
Your card will be replaced with a new chip card as your current card expires. Once your new card arrives, be sure to activate it for use and then destroy your old card.There is no need to request a new card. You’ll automatically receive your new chip card in the mail before your card’s expiration date. There is no extra charge for the new chip card when it is automatically reissued at expiration. If you are planning to travel internationally or have an immediate need for a chip card, please contact us at (208) 344-7948. There may be a small charge for this.
How am I protected?
Every time you use your card at a chip-activated terminal, the embedded chip generates a one-time use code. This code is virtually impossible to counterfeit and helps reduce in-store fraud.
With Zero Liability
All debit and credit cards that we issue come with ‘zero liability protection,’ so you are not held liable for unauthorized transactions if your card is stolen, lost or fraudulently used at a merchant or online. It is important that you promptly report a lost or stolen card or any suspicious transactions you see in your account. See the applicable agreement for your account on liability and reporting requirements for unauthorized transactions.
Frequently Asked Questions
1. Insert the card, face up and chip end first, into the terminal.
2. Leave the card in the terminal during the entire transaction.
3. Follow the instructions on the screen and either sign or enter your PIN as needed. Be sure to remove your card and take your receipt when the transaction is complete.For merchants without chip-enabled terminals, your payment will process as it normally does from your initial ‘swipe’.
We will be rolling out chip cards to our cardholders as their current one expires. So there is no need to request one. You will receive your new card in the mail before your current card expires. For more information, call the number on the back of your card or visit one of our branches.
You can use your current card until you get your chip card. At that time, activate your new chip card and start using it. Be sure to destroy your old card by cutting it up or shredding it.
Yes. You still need to sign the back of your card.
Yes. You can use your chip card to make these purchases as you do today.
Yes. For ATM transactions, insert your card into terminal and follow the instructions on the screen. Depending on the type of ATM, you might be prompted to re-insert your card. Leave the card in the ATM until the transaction is complete and the card is released, and then remove your card and any money you might have withdrawn.
It is fine to select either one – your transaction will work either way.
You may be asked to provide your signature or enter your PIN to complete a transaction when you use your card. You will need to use your PIN at ATMs and it may be required at some unattended terminals such as fuel pumps and payment kiosks.
It’s important to report a lost or stolen card immediately. Keep a record of the telephone number on the back of your card and call it if necessary.
While chip cards won’t prevent the types of large-scale data breaches that have hit some merchants, they do make it extremely difficult to produce counterfeit cards from that stolen data.
No, a chip card does not contain any information about you that isn’t in your magnetic stripe cards – just your name, account number, and expiration date.
No. Your chip card must be inserted into a POS terminal or ATM in order to read the chip.
Contact us for more information
Call us at (208) 344-7948 or stop by a branch if you have additional questions about chip cards, or if you are interested in opening an account.