Debit Cards with Chip Technology
You may have already heard about - or even used - debit or credit cards with chip technology, the new standard in card payments. Chip cards feature an embedded microchip that encrypts data to help prevent fraud.
First Merchants credit cards already use chip technology, and we are now implementing chip technology on our debit cards. Throughout 2016 and 2017, we will be sending out chip cards to replace existing debit cards - you do not need to take action in order to receive a new card.
Want to know more? Take a look at our FAQs below, or feel free to give us a call at 1.800.205.3464
What is a chip card?
The card is just like your current debit or credit card, except it is embedded with a microchip on the front. Each time you use your card at a chip-enabled register, the chip creates a unique one-time code, adding an additional layer of fraud protection.
Where can I use my chip card?
You can use your MasterCard chip debit card everywhere MasterCard is accepted. (First Merchants credit cards can continue to be used wherever Visa or American Express are accepted, depending on the type of card you have.)
Merchants across the country are beginning to use chip technology during transactions. Go ahead and try to swipe your card if you're not sure the register is chip friendly. If it is, you'll be prompted to insert your card instead.
If the register is not chip friendly, you can still swipe your card as you always have; chip cards have both a chip and a magnetic stripe.
For phone or internet purchases, enter your card number and information as you have in the past; the chip won't affect this process.
How do I use my chip card at a chip-enabled register?
When prompted, simply insert your chip card face up in the terminal and leave the card there while the transaction is processed. To complete your transaction, just follow the prompts on the terminal. You will be asked to enter your PIN or sign if required. Once the transaction is complete, you'll be prompted to remove your card.
Some chip-enabled terminals may prompt you to enter a PIN, with no other option on the screen. Remember, in order to earn Gold Standard Rewards points, the transaction must be credit (non-PIN based). To make sure you earn points, ask the cashier how to use the card as “credit” and follow his/her instructions to press either the red or green button.
How do I use my chip card at a First Merchants ATM?
First insert, then remove your card. The ATM will recognize your card as a chip card and prompt you to re-insert your card and leave it inserted until your session is complete. Once the transaction is complete, remember to remove your card.
Will my card work the same for online and phone transactions?
Yes, you can continue to use your card for all the same transactions you have in the past.
How do chip cards work?
- The chip provides an extra layer of security with every transaction you make at chip-enabled terminals. Instead of swiping your card, you'll insert your card into the terminal to complete your transaction.
- You can still swipe your card to pay if the terminal isn't yet chip enabled.
- You can use your card as you did before for online payments, telephone payments, and at ATMs.
Why are chip cards safer?
The embedded chip in your new card generates a unique, one-time code required to approve each transaction. This “dynamic” code makes it virtually impossible for fraudsters to copy or counterfeit your card. While magnetic stripe cards offer protection from unauthorized use of your card or account information, chip offers a new layer of security.
Why is my MasterCard card being upgraded to a chip card?
Your new card uses a microchip to provide greater security. Chip cards, now the global standard used around the world, are being introduced to give consumers more protection against fraud and theft.
Do I need to take any action?
- In order to receive and activate your new card, we must have your correct address and phone number on file. To verify your contact information, please call Customer Service at 1.800.205.3464.
- Once you receive your new card, be sure to activate it right away. Your current debit card may be deactivated soon, even if you haven't yet activated your new card.
- Your card number is changing, so you will need to update any recurring payments that use your card number.
- You'll choose a PIN during card activation, so you can select the same PIN if you'd like.
When will I get a chip card?
If you already have a debit card with us, we'll issue you a new, chip card between 6/1/16 and 12/31/17. Debit cards linked to personal checking accounts will be issued first. Business cards and HSA cards will be reissued in 2017. New accounts, and replacement cards for lost or stolen ones may be reissued as chip cards at our discretion.
Will I be charged for this new chip card feature?
No extra costs or fees are associated with your new card, and you will enjoy the same benefits with your new chip card as you do with your current debit card.
Will my chip card look the same as my current card?
Your new card with have a rectangular gold microchip on the front of the card. Plus, your card will feature our new, chip-friendly design.
Can I request a chip card now if I want one?
Yes, please call Customer Service at 1.800.205.3464 if you'd like to request a chip card now. However, this is not necessary; your current card will still work; chip-enabled terminals still include the option to use non-chip cards.
Where can I learn more about chip cards and chip technology?
MasterCard has additional information on their website about features and benefits of chip cards.