CHIP Card FAQ

Stay up to date with the changes that are happening with your TMECU Member Cards® by getting the answers to some of our members' most frequently asked questions.  

What is a chip debit card?

A chip card is a new form of debit card with an embedded microchip that, along with your PIN, helps add further security to your accounts and finances. The information contained on the chip is encrypted, therefore making it extremely difficult for your account information to be stolen.

Why is TMECU making this change?

This is a change that is becoming a mandatory regulatory requirement by the Interac® Association. All debit cards that solely use magnetic striped will be phased out and no longer accepted by Canadian Automatic Banking Machines (ABMs) after December 31, 2012. Point of Sale (POS) terminals will not accept magnetic cards after December 31, 2015.

How does the change benefit me?

At TMECU, your financial safety is of the utmost importance to us. When you bank, we want you to be comfortable knowing that all of your financial information is safe. We also keep you up to date with all of the changes that happen in the financial industry. The information contained in the new chip card is impermeable to fraudsters. Combined with your PIN, the chances of fraud are significantly reduced.

Do I need to activate a new PIN for the chip card?

Once you receive your new card, you will receive a new PIN, for security reasons, in a separate mailing. If you would like to change your PIN, you can do so at many of the Exchange Network ATMs, or at your branch.

When should I start using the new card?

Activate your new card immediately, and destroy your old magnetic stripe debit card once the chip card has been activated.

Will my old stripe card still be active once I've activated the new chip card?

Your magnetic stripe card will still be active once you have activated the new chip card. The credit union will cancel all of the old cards at the end of December 2012.

Are there any additional fees with the chip debit card?

There are no additional fees. The fees are the same as are currently being applied to your account.

Will it still work at all of the Exchange Network ATMs?

Yes. This card is compatible with all of the Exchange®Network and branch ATMs.

Will it work if I am travelling internationally?

The same restrictions that applied to your magnetic stripe debit card apply to the chip card. Because the chip card also has a magnetic stripe, you will also be able to use your chip card in countries and cities where they have yet to implement chip technology.

For more information about staying connected to your cash while travelling, contact your branch.

Report a lost or stolen card

To report a lost or stolen debit card during business hours, please call your local TMECU branch.

For service outside of business hours please contact Everlink at 1-888-277-1043 to request a new card be mailed to you. 

 

 

 

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