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What is a chip card?

A chip card is a debit or credit card with a built-in microchip that provides greater security of your personal and payment information. The microchip is encrypted, which means that it is extremely difficult to copy or counterfeit, helping to further protect you against fraud.

I’ve never heard of a chip card. Is this something new?

Although chip cards are not yet common in the U.S., many countries around the world have been using chip cards for many years to provide enhanced protection to cardholders against fraud. Over the next few years, chip cards and chip card payment machines will become a standard in the U.S.

What are the benefits of chip card technology?

Chip card technology makes an already secure payment system even more secure by providing an additional layer of protection on every transaction, helping to further reduce the risk of fraud.

What makes a chip card more secure?

The embedded microchip encrypts all of your payment information, making it very difficult for someone to steal. When paying with a chip card, a unique code is assigned to each transaction and the code will be validated before the payment is processed.

Does this mean that a magnetic stripe card is not secure?

Using magnetic stripe cards is still a safe and secure method of payment. The transition to chip card technology is the next step in electronic payments to enhance card security and further protect your payment information against fraud.

How is paying with a chip card different from the way I pay today?

Instead of swiping your card to make a payment, you’ll insert your card into the front of the chip card payment machine with the chip facing up. Your card will stay in the machine until the transaction is complete. When the transaction is complete, you’ll be prompted to remove your card from the chip card payment machine.

What if a retailer doesn’t have chip card payment machines?

Your chip card will still include a magnetic stripe on the back of the card. If a retailer does not accept chip card payments, you’ll still be able to swipe your card and pay as you normally would. However, if the merchant offers both chip card payment machines and traditional swipe machines, you’ll be required to use the chip card machine.

Will I still have a PIN to access my account at the ATM?

Yes, you will still enter a PIN when using an ATM. If you already have a PIN established for your card, you can continue to use that same PIN without change. If you’re receiving a new card, a temporary PIN will be issued to you in the mail. If you don’t know your PIN, please visit one of our branches for immediate PIN re-issue or call 888.418.5626 to request a new PIN to be mailed to you.

Can I use my chip card for Internet, telephone or Apple Pay purchases?

Yes, you can continue to use your chip card the same way you currently use it today when making purchases online, over the phone or with Apple Pay.

What is the difference between a chip card, EMV card, and Smart chip card?

Nothing. These are all just different terms used to reference the same technology.

When will I receive my new chip card?

All of our credit cards are equipped with chip card technology and our debit cards started including this technology late last year. By 2018, all Cambridge Savings Bank cards will be transitioned to chip cards.

Are there any additional fees for chip cards?

There are no additional fees associated with the new chip cards.

Who can I contact if I have additional questions?

Our Customer Contact Center is here to help! Call 888.418.5626 or email your question to info@cambridgesavings.com

The creditor and issuer of CSB credit cards is Elan Financial Services, pursuant to separate licenses from Visa U.S.A. Inc., MasterCard International Incorporated, and American Express. MasterCard is a registered trademark of MasterCard International Incorporated. American Express is a federally registered service mark of American Express

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