Added Security for Your RSNB Bank Visa® Debit Card
As you may know, the US payment system is currently undergoing a change from cards with magnetic strips to cards with chips. Chip cards provide added security against counterfeit fraud when used at chip-enabled terminals.
Beginning in 2016, we will be sending debit card holders new cards with chips. When you receive your new card, simply call the number on the attached sticker to activate the card.
Your card number and pin remain the same. However, your new chip card will have a different expiration date and 3-digit security or CVV2 code. If you have automatic payments or transactions linked to your debit card, remember to give those merchants your new expiration date so that your payment(s) will continue to be processed. Your existing card will no longer work 5 weeks after your chip card is ordered.
The benefits of chip technology
Enhanced security & fraud reduction – Chip cards are more secure as they keep card numbers encrypted throughout transactions and thus are harder to duplicate than card account numbers. Whenever you use a chip-enabled terminal, a unique one-time code is created that is required for your transaction to be approved. This code is nearly impossible for counterfeit cards to duplicate.
Increased international acceptance – Chip cards are currently being used in many countries, making it easier and more secure to pay while you’re abroad.