As you’re probably aware, most financial institutions are in the process of reissuing VISA® Credit and Debit Cards with new EMV Chip Technology. Jeanne D’Arc is also working on a plan to reissue new EMV Chip-embedded VISA® Credit and Debit Cards to our existing cardholders. In the meantime, the information on this page is here to fill you in on what EMV Chip Technology is and why we’re making this transition.
Until you’ve received your new Jeanne D’Arc VISA® Credit and/or Debit Card with EMV Chip Technology, your current cards will remain active, and they are safe to use. In fact, your existing cards (with the magnetic strip on the back) are protected by the VISA® Zero Liability guarantee if your card number is ever obtained and used fraudulently by others. This guarantees that you will not be held responsible for unauthorized charges on your account. We will also continue to monitor your transaction activity and will contact you immediately if we feel there is any threat of fraud.
Huge protection from a tiny chip.
When the conversion does happen, all Jeanne D’Arc Credit Union VISA® Credit and Debit Cards will come with built-in EMV Chip Technology to provide you with greater fraud protection when using your card at a chip-activated terminal. Your EMV Chip Card is not only secure—it’s also easy to use. Here’s what you can look forward to as a cardholder.
Enhanced fraud protection.
When you use your card at a chip-activated card reader, the embedded EMV Chip generates a one-time use code. This code is virtually impossible to counterfeit and helps reduce in-store fraud.
Greater security but still as easy to use.
If a chip-activated terminal is not available, simply swipe your card as usual at a standard card-reading terminal. However, if a chip-activated terminal is available:
- Insert the chip end of your card into the front of the terminal with the chip facing up.
- Keep your card in the terminal and follow the prompts.
- Remove your card when instructed to do so and take your receipt.
More merchants are obtaining chip-activated terminals every day. Whether you check out using chip technology or swipe your card as usual, you can pay with confidence wherever VISA® Credit Cards are accepted.
Keep in mind you can also use your EMV Chip Card online or over the phone the same way you use your magnetic strip card today.
1. Why am I receiving a new credit and/or debit card?
Jeanne D’Arc Credit Union is in the process of changing out our VISA® Credit and Debit cards to add extra security. This change requires that new cards be issued with EMV Technology. EMV Chip credit cards are available now by request, but the majority of credit card reissues will occur in early 2016. Debit card reissues are expected to take place shortly afterward.
2. What is EMV?
EMV stands for Europay, MasterCard® and VISA®. EMV Chip Technology is becoming the global standard for credit card and debit card payments. This smart chip technology features credit and debit cards with embedded microprocessor chips that store and protect cardholder data. This standard has many names worldwide and may also be referred to as: “chip” and “signature.”
3. Will my credit card interest rate change as part of this conversion and card issue?
No. Your interest rate and other terms on your account will not be changing.
4. Will I have new PIN numbers so I can access cash from my credit and/or debit card?
No. Your Personal Identification Number (PIN) will remain the same.
5. My existing card does not expire for quite a while; can I continue using my existing card until expiration?
You should continue to use your existing card until you have received a new EMV Chip Card. We’ll provide you with instructions at that time about what to do with your existing magnetic strip card.
6. Will all merchants be able to accept my EMV(Chip) credit and/or debit card?
Yes. Your cards will be accepted at all merchant locations.
7. What do I need to do if I have preauthorized or recurring payments that are tied to my existing Jeanne D’Arc Credit Union credit and/or debit card?
To ensure there is no interruption in recurring or preauthorized payments (such as monthly telephone, electricity, gas bills, insurance, clubs), contact the merchant immediately upon receiving your new card to update the expiration date and CVV code (found on the back of the card).
8. Will the due date for my credit card payment change?
No. Your due date will stay the same.
9. Will I need to send my credit card payment to a new location after the conversion?
No. Our remittance address will remain the same.
10. I set up my monthly credit card payment as an automatic ACH transfer, payroll deduction or as a recurring transfer. Do I have to make any changes?
No. Your account numbers will not change so you do not need to make changes to automatic ACH transfers, payroll deductions or recurring transfers.
11. Will my previous credit card history transfer to my new card so I have access to the information if needed?
Yes. Your credit card history and statements will be retained and available.