Chip cards feature an embedded microchip that provides additional protection from fraud and unauthorized use. When used at chip-enabled card readers, the card's fraud protection kicks in. The embedded chip is encrypted, safeguarding your personal information during the transaction process.
The security of our members' financial information is a top priority for us. Following the timeline below, as cards expire, we'll be replacing your cards with EMV chip cards.
- Credit Cards will begin to re-issue upon expiration as chip cards end of January 2016
- Debit cards will begin to re-issue upon expiration as chip cards beginning July 2016.
- Debit cards instant issue (in branch pick up) will begin to print chip ready sometime 4thquarter 2016.
TLC's new chip enabled cards still contain the magnetic stripe technology. Your new card can be used for the following methods of purchasing:
- Retailers with chip-enabled terminals
- Retailers without chip terminals
- Over the phone or online
- Retailers with contactless functionality
There is one main difference in using your new card at a chip-enabled terminal. You'll need to insert your card into a chip enabled terminal, leaving it there for a few seconds. Most EMV slots are located below the number pad.
- Insert your card chip first
- Leave it in the machine, while you follow the onscreen prompts
- Remove your card
By using this method of payment, your transaction will be encrypted with a unique ID that provides an extra layer of protection against criminal activities.
For more information, view the video below.