Frequently Asked Questions about EMV chip-enabled cards
Q: What is an EMV chip-enabled card?
A: EMV, which stands for Europay, MasterCard, Visa, is a global standard for credit payment cards using embedded microchips. FCU Visa EMV Credit Cards have an embedded microchip in it. When used to pay at merchants with chip-enabled terminals, the system validates the chip, helping to ensure a more secure transaction.
In addition to the microchip, FCU cards also have a magnetic stripe on the back. That way, you can continue to make purchases at non-enabled retailers by swiping your card and signing a receipt.
Q: Why has FCU switched to EMV chip-enhanced credit cards?
A: Replacing magnetic-stripe-only cards with cards that are enabled with both magentic-stripe and EMV chip provides more security because the account information is encrypted in the chip, making it more difficult to fraudulently copy the credit card details. Also, the chip-enabled credit cards are a standard payment method around the world, so having this feature makes purchasing abroad much easier.
Q: What information is on a chip-enabled card?
A: The microchip embedded in the card stores information required to authenticate, authorize and process transactions. This is the same type of information already stored in the magnetic stripe.
Q: Are there any additional fees associated with the EMV chip-enhanced cards?
A: No additional fees apply to FCU's new EMV credit cards.
Q: How do I make a purchase with my EMV-enabled credit card?
A: At most retailers, the process will remain the same for now - you will make purchases by swiping your card and signing a receipt. However, for EMV-enabled retailers and for instances when you are traveling internationally, rest assured that using a chip-enhanced terminal is simple. To make a transaction, just follow these easy steps:
1. Insert the chip portion of the card into the terminal with the chip facing up and leave the card in the terminal until the transaction is complete. If you remove the card too soon, the transaction will end and your purchase will not be processed.
2. Follow the promopts on the terminal's screen.
3. You may be asked for a signature or a PIN to complete the transaction.
When your transaction is complete, be sure to remove your card from the terminal, as you may not be prompted to do so.
Q: Once I have a chip-enabled card, should I continue to notify FCU before I travel internationally?
A: Yes. Advance notification will help us ensure that legitimate purchases are approved!
Q: Do I need to get a metal wallet to secure my EMV card?
A: No. All of FCU's chip-enhanced EMV cards are "contact only cards" and cannot be scanned from a distance. You do not need metal card wallets to protect your card.
Q: Will I still get the same rewards and benefits from my card?
A: Yes, your new FCU EMV card will continue to provide all the same benefits and rewards you received with your previous card.
Q: How can I get an EMV chip-enhanced FCU Visa Credit Card?
A: In a few months, you will receive your new EMV Credit Card through the mail. If the information on your account does not currently reflect your current address, please contact your local FCU branch right away to update your account to guarantee you will receive the new card. Your new card will keep the same number but will have a new expiration date, so any automatic payments you have set up through your card will need to be updated. This change does not impact FCU Debit Cards at this time.
Don't yet have an FCU Visa Credit Card? Apply today! If you don't currently have an FCU Visa Card, you can apply online here (subject to approval).