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Personal Banking

Austin Bank Debit Card - now with EMV chip security




A chip card, or EMV card, is Austin Bank's way of adding an extra layer of security when you pay.  

Read below for answers to some questions regarding this new technology.


 
Austin Bank debit cards
 
Frequently Asked Questions

What is an EMV or “chip” card?

EMV stands for Europay, MasterCard and Visa, a global standard for inter-operation of integrated circuit cards (IC cards or "chip cards").
 

Why is my Austin Bank Debit Card being changed?

The biggest benefit of EMV is the reduction in card fraud resulting from counterfeit, lost and stolen cards.  EMV chip cards contain embedded microprocessors that provide strong transaction security features and other application capabilities not possible with traditional magnetic stripe cards.  EMV cards have been in use in many other countries for several years and the United States is one of the last countries to migrate to EMV.
 

Do I use my card in the same manner as used today?

Yes, with one exception.  EMV cards must remain in the terminal card reader until the transaction is completed.  Magnetic stripe cards are typically inserted into a terminal and then immediately removed.  With EMV cards you will insert your card into a slot in the terminal and not remove until your transaction is completed and you are prompted by the terminal to remove your card.  This is necessary so that the security features on your card are properly synchronized for future transactions.
 

Can I continue to use my card for both PIN verified and signature verified transactions?

Yes.  Just as with a magnetic stripe card, you will continue to have that option depending on payment brand rules, issuer preference and terminal owner network preferences.  Different terminal types support different cardholder verification methods.  For example, attended POS devices often support both PIN and signature verification while ATMs and unattended card-activated terminals typically support PIN only.
 

When will my Austin Bank Debit Card be replaced with a new card with an EMV chip?

It is anticipated that during the 1st quarter of 2016 Austin Bank will begin issuing/reissuing debit cards with both an EMV chip and a magnetic stripe.  Currently no mass reissue of cards is planned and existing cards will simply be replaced with EMV cards on the normal reissue date or if you receive a replacement card for some other reason.  You can continue to use your current cards until such time as you receive a new or replacement card.
 

Will my card always have both an EMV chip and a magnetic stripe?

Eventually cards will be issued with only the EMV chip.  This will most likely not occur for several years depending on the duration of the transition period from stripe to chip.
 

Will my EMV card be accepted at all merchants and ATMs?

Your card will continue to be accepted at all merchants and ATMs that accept MasterCard debit cards.
 

What if a merchant or ATM is not equipped to accept EMV cards?

Austin Bank cards will be issued with both an EMV chip and a magnetic stripe.  This allows your card to be accepted at terminals, regions or countries that have not deployed EMV.
 

Will my receipts from merchants or at an ATM be different?

Yes.  You will notice some additional information printed on your receipt that is specific to an EMV transaction.  Following is a sample of how this information could appear.  It typically prints somewhere on the bottom section of the receipt but location and exact wording can vary based on the specific merchant and network processing the transaction.

 
 
Sample Text on EMV Merchant Receipt

AID A0000000041010
TC 62331EEF15261237
TERMINAL # 168246258
Sample Text on EMV ATM Receipt

AVAIL BAL        $xxx.xx
US DEBIT
A0000000981840