Chip Card FAQs
- A chip card - also called a smart card or an EMV™ card - is still a regular debit card, but now it is embedded with a small electronic chip.
- Each time you use your chip card at a chip reader, 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.
- Insert your card, face up and chip end first into the terminal.
- Leave the card in the terminal during the entire transaction
- Follow the instructions on the screen. Be sure to remove your card and take your receipt when the transaction is complete.
If the machine you are using your card at is not ready to accept chip cards, that is okay. Your new card will work at that machine too, just swipe it like you used to swipe your old card. There is a magnetic stripe on your new card as well.
- Insert and remove your card at the ATM. If the ATM is chip-enabled, you will be asked to re-insert your card.
- Re-insert your card, face up and chip end first into the terminal.
- Leave the card in the terminal during the entire transaction.
- Follow the instructions on the screen. Be sure to remove your card and take your cash when the transaction is complete.
Yes. 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.
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.
Even though chip cards are being issued in the U.S. and some merchants have already installed chip-enabled card terminals for payment, the entire conversion process is expected to still take a few years to complete.