Debit cards with new chip technology are safer and more convenient.

Debit cards with new chip technology, also referred to as EMV, set the new global standard for ensuring transaction security.  The advanced security of the cards makes it extremely difficult for fraudsters to counterfeit or copy your card's information.

How does it work?
The chip - a small, metallic square on the front of the card - assigns a one-time code during each transaction, making every transaction unique and the card more difficult to counterfeit or copy. When a merchant has a chip ready terminal, you will dip the card into the terminal instead of swiping it, similar to the process used at an ATM.

Are chip cards more secure?
Yes. Chip technology has been in use for nearly two decades, and is already a security standard in many countries around the globe. The chip in your new card encrypts information in a manner that traditional magnetic-stripe cards do not, making chip cards more difficult to replicate and reducing the likelihood of fraud. Although it's less common to see counterfeit chip cards, it is still important for you to be vigilant and safeguard your card and your personal information. Always notify GSB of suspicious card activity by contacting our Access Banking Center.

When will I receive a chip card from GSB?
GSB will distribute chip cards on a rolling basis beginning in June. There is no need to worry if you do not have a chip card – merchants will continue to allow you to swipe your traditional card to make a purchase.

How will I be impacted?
This process will take time, and you will likely notice that initially some bank cards will have chips and some won’t, while some merchants will have chip-ready card readers and some won’t. This will be the case during the transition, as billions of cards and millions of payment terminals need to be upgraded. When you receive a chip enabled card, you’ll have the ability to both use the chip or the magnetic stripe, depending on the card reader the merchant has.

Will my card number or PIN number change?
No. Your existing debit card number and PIN number will remain the same, however, you will need to activate your new card when you receive it by calling the automated activation number located on the card.

How does this impact online or phone transactions?
It will not impact these transactions. You will still need to provide your card number, expiration date and in most cases, a security code. It is important that you continue to safeguard this information to prevent unauthorized transactions.


If you have any questions about your new chip-enabled debit card, please contact our Access Banking Center.
 




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