EMV chip-cards are here! PlainsCapital Bank will be issuing new chip-enabled debit cards starting April 13, 2016.
What is EMV?
EMV is an international card security standard developed by Europay®, MasterCard®, and Visa® to combat fraud worldwide. The United States is one of the last countries in the world to adopt this standard, and it is long overdue – the magnetic stripe technology that we have been depending on is the same technology used in audio cassette tapes!
How does it work?
The chip in your new debit card ensures that your purchases are secure by using a unique code for every transaction. This code is only communicated between the card and the terminal, which helps prevent fraud and identity theft since the code is only used once. The EMV chip itself cannot be easily counterfeited, unlike the magnetic stripes on current cards.
Where can I use my new chip card?
You can shop everywhere you normally would. Not all retailers have their chip readers enabled yet, but your card still has a magnetic stripe that you can swipe as a back-up in this circumstance.
I want a World Debit MasterCard. How do I get one?
Easy! Just open up a Premier Checking account and you will be issued our exclusive World Debit MasterCard.
Still have questions? No problem. Feel free to call our customer service at 866.762.8392 and we’d be happy to help.