Using Your Alabama Teachers Visa® ATM/Debit Card for Debit or Credit Transactions
You can use your ATCU Visa® ATM/Debit Card for both debit and credit transactions. Below is an overview of how those transactions are processed:
- Debit transactions are referred to as PIN (Personal Identification Number)-based. There are two types of PIN-based transactions: POS (Point of Sale) and ATM (Automated Teller Machine).
- When you swipe your Visa® ATM/Debit Card and select "Debit" on the keypad, you will be required to enter your PIN.
- The transaction is debited from a designated checking account immediately.
- The transaction is posted with the words POINT OF SALE, followed by the merchant's name and location.
- ATM withdrawals are limited to $500 per day.
- Daily transactions are limited to $2,000 per day.
- Credit transactions are referred to as Signature-based.
- When you swipe your Visa® ATM/Debit Card and select "Credit" on the keypad, or tell a sales associate that you are making a credit charge, you will be required to sign your name to authorize the transaction.
- The transaction is not immediately debited from your designated checking account but will be held against the available balance.
- The transaction could take up to five business days to post.
- The transaction is posted with the words DEBIT CARD followed by the merchant's name and location.
- Purchases made over the phone or via the Internet are processed as credit transactions.
- Credit/Signature transactions are limited to $2,000 per day.
Even though your ATCU Visa® ATM/debit card is still held against your available balance when you use it to make credit transactions, there are a number of benefits in using it for signature-based transactions over POS-based transactions:
- When signing for purchases, there are security protections that help prevent, detect, and resolve fraud.
- PIN transactions are handled by each merchant and may not provide the same security protection available for transactions processed by Visa®.
To ensure that you, our members, feel safe and secure when using your ATCU Visa® ATM/Debit and Credit Cards, we are in the process of implementing the EMV (Europay, MasterCard, and Visa®), commonly referred to as the new "chip" card. EMV is a joint effort between the three to ensure a secure and global way for MasterCard® andVisa® to be accepted worldwide. This new form of payment will aid in protecting against fraud by enhancing the security of card transactions.
ATCU Visa® EMV Credit Cards are available now on reissues and new cards. ATCU Visa® ATM/Debit Cards will follow suit in the coming months. Watch for more details on the EMV debit card release. We will also inform you when our Instant Issue EMV debit cards become available. Please read below for EMV Frequently Asked Questions (FAQs) for a better understanding of how this new technology will work to provide you with an additional layer of security when using your ATCU Visa® ATM/Debit and Credit Cards.
What is Visa® Chip Technology?
Chip technology refers to the microchip found on credit and debit cards. Each time a chip card is used in-store, a unique one-time code is created and validated before transactional approval. When the same chip card is used again at a different location, a new unique-code is created. This feature makes it virtually impossible to duplicate with a counterfeit card.
How do you use a Visa® Chip Card?
Visa® Chip Cards can only be used in a chip-activated merchant terminal. All you have to do is insert your card in to the reader, chip-side up and follow the on-screen prompts. The card must stay inserted in the merchant terminal until the transaction is complete. Just remember to take your card with you when you leave.
What is a chip-activated merchant terminal?
A chip-activated merchant terminal is a payment terminal that is able to accept chip cards as well as cards with the magnetic stripe. All payment terminals are different; however, you will notice a slot where the chip card can be inserted into the machine for payment instead of swiping the stripe on the back of the card.
What if a customer has a credit or debit card with a magnetic stripe and no chip?
Chip-activated terminals are equipped to accept cards with a magnetic stripe by swiping the card on the terminal. Most financial institutions and merchants are currently in the process of replacing cards and terminals to ensure they are EMV-ready. For the next few years, both types of cards will be in circulation.
Are there any additional fees associated with chip-enabled cards?
No additional fees apply to your card.