Chip Technology FAQ’SWhat is EMV?
EMV, which stands for Europay, MasterCard and Visa, is a global standard for credit and debit cards based on chip card technology.
What is chip technology?
The chip in your card produces a unique code during each transaction, making it more secure and harder to duplicate.
What are the benefits of a Chip Card?
Chip Cards are more secure, acceptable in other countries and easy to use.
How is it more secure?
When making transactions at chip-enabled terminals, the chip encrypts information to increase data security. Each transaction is more secure because the chip is unique to each card, making it more difficult to counterfeit.
If my Chip Card is lost or stolen, will my personal information be exposed?
Your personal information is not stored in the chip. It only contains information to process your transaction at a retail terminal or ATM.
If your card is lost or stolen, please contact us immediately at (843) 716-4272.
Can my card still be compromised with a chip?
Yes, your card can still be compromised. The chip card is most effective when used at a chip-enabled terminal. If a retailer does not have chip-enabled terminals, you will have to swipe your card, which can be less secure.
How do I know if I have a Chip Card?
You will know if you have a Chip Card if there is a metallic rectangle at the top left of your card. This rectangle is the chip.
When will I receive my Chip Card?
HCSB Chip Cards will be issued in August 2016.
How do I activate my Chip Card?
To activate your card, please follow the instructions on your card carrier.
Will my PIN change?
Your PIN will not change.
Will I be able to use my current card until I receive a Chip Card?
Yes, you will still be able to use your current card. Terminals will continue to allow you to swipe your card and enter your PIN or sign for your purchase.
Will my card number change?
Your card number will not change.
Will my expiration date and security code change?
Your expiration date and security code will change with your new Chip Card. If you have recurring payments set up with your debit card, you will need to provide those businesses with your new expiration date and security code.
MasterCard’s Zero Liability Policy also ensures that you won’t be held responsible for fraudulent charges made on your Personal Debit Card.
Where can I use my Chip Card?
You can use your card at any business or retail location that accepts MasterCard.
How do I use my Chip Card?
You can use a Chip Card at any merchant that accepts MasterCard cards. If the merchant has a chip-enabled terminal, simply insert the card into the bottom of the terminal and wait for the transaction to complete. You may be asked to enter your PIN or sign during the transaction. After the transaction is complete, you can remove your card.
Will I still be able to swipe my Chip Card?
Yes, Chip Cards still have a magnetic stripe on the back so that you can swipe your card at terminals that are not chip-enabled.
If you try to swipe a Chip Card at a chip-enabled terminal, the terminal may alert you to insert the card into the terminal to complete the transaction.
What if a business or retailer doesn’t have a chip-enabled terminal?
Your card will still have a magnetic stripe, so you will able to swipe your card at the terminal.
Will this new chip change how I use my card at an ATM?
Using your PIN, you can still access your accounts with your Chip Card at any ATM. Please keep in mind, if you are using a chip-enabled machine, you may be asked to insert your card and keep it in the machine until you have completed your transaction.
Are there any changes with phone and online transactions?
You may continue to make purchases online and via phone the same way you do today. However, it is important to be cautious when making purchases via phone or online. Always be sure you are making purchases from a legitimate business. Chip technology does not prevent or deter these types of purchases.
If I don’t have a Chip Card, am I still protected?
We continuously monitor all debit cards for fraudulent activity. If fraud occurs, your card may be blocked; however, we encourage you to always monitor your account for suspicious activity. If you notice any charges to your account that you have not authorized, please let us know immediately by calling your local branch.
Can I still get cash back at the grocery or any other store with a Chip Card?
The ability to get cash back may vary by retailer. If you are not able to receive cash back at one retail location, you may try another one, or you may locate the nearest Horry County State Bank ATM. You can find our ATM locations on the HCSB Mobile App or at http://www.hcsbaccess.com/locations/ .