Chip Cards Explained
Despite the convenience and popularity of debit cards, there is always a risk of fraud or theft. Our First Hope Visa® Debit Cards are equipped with chip technology (also called EMV technology) to provide an extra layer of security to your debit card.
What makes chip cards more secure? That small security chip that is embedded in your debit card makes it virtually impossible for fraudsters to duplicate your card number. "Skimming" is a common threat to debit card users and occurs when fraudsters set up a device that captures your card information directly from the magnetic stripe on your card. These devices are often set up on ATMs and gas pumps. Your chip card will help to prevent fraudsters from stealing your information.
For your security, First Hope Bank offers CardValet® to help combat fraud. This free mobile app allows you to control the debit card in your wallet with the smartphone in your pocket.
Play it safe.
Protect your debit card from fraud with easy on/off controls.
Decide where, when, and how your child uses their debit card.
Set alerts and take control of your debit card spending.
Tips to Protect Your Debit Card
Have you ever been asked "debit or credit" when making a purchase with your debit card? Although your First Hope Visa® Debit Card is not a credit card, you can still process your transaction as "credit". The only difference when choosing "credit" rather than "debit" is that you will be asked for a signature rather than inputting your PIN.
Don't worry—the transaction will still post to your account as it normally would. By choosing to process your transaction as "credit", you are eliminating the chance of exposing others to your PIN. In some cases, retailers may even store your PIN in their customer database. We strongly recommend our debit card users to process transactions as "credit"—it could make all the difference in your financial safety!
Avoid becoming a victim of debit card fraud with these helpful tips:
- Check your bank account often by using online banking and eStatements. Always look at your recent transactions and make sure they are yours. If you do not have online banking, check your paper statements promptly when they arrive.
- If you believe your debit card is lost or stolen, or if you believe it may have been subject to fraudulent use, contact your bank immediately.
- Keep a record (but not in your wallet or purse) of card numbers, PINs, expiration dates and telephone numbers for banks so you can contact the issuing bank easily in cases of theft.
- Memorize your PIN. Avoid using significant dates, such as your birth date, or any part of your address, phone number or Social Security number.
- Never store your PIN with your card, and do not share your PIN with others.
- Keep your receipts. You'll need them to check your statement. Never throw away receipts that list your account number without shredding them first.
- Mark through any blank spaces on debit slips, including the tip line at restaurants, so the total amount cannot be changed.
- Know your limits. Many issuers limit daily purchases and withdrawals for your protection.
- Do not use an ATM if it looks suspicious—it could be a skimming device.
- Be wary of those trying to help you, especially if an ATM "eats" your card—such people may be trying to steal your card number and PIN.
- Do not give your PIN number to anyone over the phone. Thieves often steal the cards and then call the victim for their PIN, sometimes claiming to be law enforcement or the issuing bank.
*For other helpful tips and information on using your debit card wisely, you can visit the Federal Trade Commission's Website.
*For more ways to protect yourself from becoming a victim of fraud, click here.
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