A chip card (also known as an EMV card) is Sauk Valley Bank’s way of adding an extra layer of security when you pay.  Chip cards can be used anywhere your other cards are used, but the chip functionality only works at a business that has an activated chip-enabled terminal.

How do I know that I have a chip card?

The chip on your debit card is a small, metallic square on the front of the card.  You still have a magnetic strip on the back of the card, so you can use it at retailers that don’t accept chip cards yet.

Why are chip cards more secure?

The chip generates a unique, one-time code each time you insert your card at a chip-enabled terminal.  Your purchase can only be approved with the chip-generated code.

The chip in your card is virtually impossible to duplicate.  That means, attempts by fraudsters to create and use counterfeit cards will be much harder.

Can I use my chip card anywhere?

Yes.  Your chip card can be used virtually anywhere. MasterCard is accepted in the U.S. and around the world.  If a merchant has a chip-enabled card terminal that accepts debit transactions, you will insert your card during the transaction.  In the U.S., you will still be able to swipe your card to make your payment if a merchant has a regular terminal.

Can I use it to make purchases online or by phone?

Yes.  You can use your chip card to make these purchases as you do today.

If fraud happens on my debit card and I don’t have a chip card, am I liable for the transaction?

No.  Whether you insert or swipe your card, you still are not held liable for fraudulent purchases as long as you reported the fraudulent transaction as soon as you noticed it.

Can I use my card at an ATM?

Yes.  Chip-enabled ATM’s have all of the features you are used to.  You likely won’t notice any physical difference between the two.  If it is chip-enabled, swipe your card as you normally would.  It will prompt you to insert the card again and leave it.  If it is not chip-enabled, swipe and use your card as you normally would.