What is an EMV or chip-enabled card?
Chip cards differ from the traditional magnetic stripe cards in these ways:
- Unlike traditional magnetic stripe cards, duplicating cards is nearly impossible due to the embedded microchip
- A unique one-time code is generated to validate each transaction
- Cards are inserted (“dipped”) into the terminal and not removed until prompted by the terminal, rather than swiped
Improved Fraud Protection
A chip card has a small microchip built into it that contains the same information that is stored in the magnetic stripe on the back of the card. A chip adds another layer of security to cards by requiring the chip to produce a single-use code to validate the chip transaction, further protecting your card from unauthorized use.
Using a Chip Card – Watch Demo video by clicking HERE
Greenville Federal Bank Chip Cards
You can count on Greenville Federal to provide you with this improved security in these ways:
- Greenville Federal Visa® debit cards will be re-issued as chip cards late 2017. Your existing debit card will continue to function until the new chip card is issued and no action is required from you.
When you receive your new chip card, please read the activation instructions and chip technology FAQs. It is important to note that your new EMV-enabled debit card will be the same NEW CARD NUMBER and existing PIN. All you will need to do is activate your new card.