Visa Debit Cards with EMV Chips

See how it's working:
View this infographic on how EMV chips have reduced card fraud in first year of roll-out.

WHAT:
As of May 2016, all new and re-issued Denison State Bank Visa Debit have EMV chips in them. “EMV” is an abbreviation of Europay, MasterCard, and Visa and is the new card industry security standard. 

ALSO KNOWN AS:
Chip cards, EMV cards

HOW:
EMV credit and debit cards use an embedded computer chip.  The chip is a small metallic square on the front of the card. When used for a purchase or ATM withdrawal, the chip assigns a one-time code making every transaction unique and the card more difficult to counterfeit or copy.

To use an EMV card, you insert or “dip” the card, face-up, into the enabled payment terminal or ATM.  The card must then stay in the terminal/ATM until the transaction is complete.  You may be prompted to enter your card PIN or sign your name. Remember to remove your card when prompted. 

EMV cards still have a magnetic stripe on the back in case they cannot be accepted by merchant/ATM. You will be prompted to “swipe” or “dip.” During the transition phase, it is recommended that EMV cardholders swipe first by sliding the card in the swipe slot.  If the terminal is EMV capable, you will be prompted to insert your EMV card into the EMV slot.  A payment terminal machine may look to be EMV enabled, but may not be activated for that yet.

WHERE:
EMV cards can be used wherever Visa cards are accepted. The EMV security protection only works if the accepting merchant/ATM is EMV-enabled.

WHEN:
Converting all U.S. cardholders (1.2 billion cards), businesses, banks and ATMs to EMV technology is a massive undertaking and will take several years. Many businesses will be delayed in getting their payment terminals to be EMV-enabled. U.S. banks are leading the way in now issuing EMV cards and operating EMV-enabled ATMs, with goals for near-full adoption by 2020.

PROTECTIONS:
Visa card holders still receive the same zero-liability protection. If you have an unauthorized card transaction on your account, report it to the bank within 60 days to get reimbursed.

EMV cards cannot be read by wireless identify theft devices when not in use. You do not need to buy an aluminum RFID wallet. 

OTHER:
EMV technology does not work on "card not present" transactions: e-commerce, mail order or telephone sales.

If your EMV card is lost, Denison State Bank can replace it for a fee of $6.00.