EMV Chip Technology
SGB DEBIT CARDS NOW COME WITH EMV™ CHIP TECHNOLOGY
Your chip card provides a more secure way to access ATMs and make purchases.
What you need to know about your chip card:
Your chip card will provide enhanced fraud protection. Chip technology protects against lost, stolen and counterfeit card fraud. You will be able to use your new chip card anywhere. When you make purchases at a chip-enabled terminal, two actions take place to reduce the chances of your card being compromised:
- Your card is validated as legitimate, protecting it against being counterfeited
- Cardholder verification authenticates you as the cardholder
If you visit a store that does not use a chip-enabled point-of-sale terminal, your card will have both a chip and magnetic stripe, so you can still swipe your card. Plus, you can continue to use your card at ATMs to get cash, check your balance and more.
FAQ’S: TO LEARN MORE, SEE THE FREQUENTLY ASKED QUESTIONS BELOW
What is a chip card and why am I getting one?
Chip cards are payment cards that have an embedded chip. Chip cards offer you advanced security when you use the chip to pay in store or at an ATM.
What is EMV?
Chip cards are based on a global card payment standard called EMV, currently used in more than 80 countries. There are more than 3.4 billion chip cards issued across the globe. Learn more at www.emv-connection.com/consumers.
Why are chip card transactions more secure?
Chip card transactions offer you advanced security in-store and at the ATM by making every transaction unique. And your chip card is more difficult to counterfeit or copy. If the card data and the one-time code are stolen, the information cannot be used to create counterfeit cards and commit fraud.
How do I know if I have a chip card?
If you have a chip card, the chip is located on the front of the card. You will still have a magnetic stripe on the back so that you can use it at merchants who don’t accept chip cards yet.
How do I use my chip card in stores?
During the transition to chip, you can swipe your card as you normally would and follow the prompts. If the terminal is chip-enabled, it will prompt you to insert your card instead. If you already know your chip card works there, start by inserting your card. These basic steps will help ensure successful transactions:
- Insert your card with the chip toward the terminal, facing up. Do not remove until prompted.
- Provide your signature or PIN as prompted by the terminal. Some transactions may not require either.
- When the terminal says the transaction is complete, remove your card.
Always remember when you use your chip card to follow the prompts on the terminal and leave your card inserted until prompted to remove it.
What should I expect when using my chip card at ATMs?
Depending on the type of ATM, your experience may differ slightly. To complete a transaction, insert your card and follow the prompts. When the ATM says the transaction is complete, remember to take your card.
Can I still pay in store or use an ATM if I don’t have a chip card?
Yes, merchants and ATMs will continue to accept magnetic stripe cards.
Can I still use my chip card at a non-chip-enabled ATM or merchant terminal?
Yes. Your card will have a chip and a magnetic stripe to accommodate any situation.
What does a chip-enabled merchant terminal look like?
Chip-enabled terminals have all of the features you are used to with a payment terminal, with the addition of a slot to insert your card. The slot is typically located at the bottom or the top of the payment terminal.
What does a chip-enabled ATM look like?
Chip-enabled ATMs have all of the features you are used to. You likely won’t notice any physical difference between a magnetic stripe ATM and a chip-enabled ATM.
How do I know if a merchant terminal accepts chip cards?
During the transition to chip, you can swipe your card as you normally would and follow the prompts. If the terminal is chip-enabled, it will prompt you to insert it instead. If you already know your chip card works there, start by inserting your card.
How do I know if an ATM accepts chip cards?
Depending on the type of ATM, your experience may differ slightly. Generally, a chip-enabled ATM will guide you through the transaction and will return your card at the end. To complete a transaction, insert your card and follow the prompts. When the ATM says the transaction is complete, remember to take your card.
What if the terminal or ATM doesn’t accept chip cards?
Cards will still have a magnetic stripe on the back, so even if a terminal or ATM is not yet chip-enabled, you can use your card as you do today.
Where can I use my chip card?
Anywhere. Your card will have a chip and a magnetic stripe to accommodate any situation.
When will I be able to use my chip card at all merchant and ATM locations?
Every day, more merchants and ATMs are becoming chip-enabled to increase security for in-person card transactions, so you will start to see these terminals and ATMs at many of the stores and financial institutions you visit today. You will continue to be able to pay at both chip-enabled and non-chip-enabled merchants and ATMs with the same card.
Will anything change during my online purchases?
No. You will use your chip card for online purchases by following the same process you do today.
Are there limits on the amount of money I can withdraw or spend using my new chip card?
Yes. For ATM withdrawals, SGB customers may withdraw up to $400.00 each day (24 hour period) if your balance accommodates. For merchant transactions, SGB customers may spend up to $1,000.00 each day (24 hour period) if your balance accommodates. These limits are separate and have not changed.