General Chip and PIN FAQs
First Citizens Credit Cards with Chip and PIN technology
What is a Chip and PIN credit card?
A credit card with Chip and PIN technology contains an encrypted embedded microchip, which stores data more securely and strongly reduces the possibility of fraud. The security of this technology automatically creates an enhanced customer experience.
What are the benefits of Chip and PIN credit cards?
- Guaranteed international acceptance at merchants including those in the UK and Europe.
- Increased protection against lost, stolen or counterfeit card fraud through the ability of the chip to securely store and process data.
- Additional layer of security when Chip and PIN credit card is used at a Chip and PIN point of sale terminal/merchant. In this scenario, the customer is required to input his/her PIN, which he/she alone should know.
Will my First Citizens Credit Card no longer have a magnetic stripe then?
Your First Citizens Credit Card will carry both Chip and PIN technology plus the magnetic stripe technology, so that your card will be accepted in essence at all point of sale machines and ATMs worldwide.
Does this mean that the magnetic stripe technology, which is currently on the back of my First Citizens credit card, is not secure?
The magnetic stripe technology is and continues to be very secure. The Chip and PIN technology simply moves to make an already very safe payment system even more secure.
First Citizens, as part of its core credit card operations, currently protects and will continue to diligently protect our cardholders from fraud via our 24/7 credit card monitoring service, whether the card carries magnetic stripe technology only or if it carries magnetic stripe technology plus the Chip and PIN technology.
Can a First Citizens Credit Card with Chip and PIN technology be compromised?
The Chip and PIN technology is the new technology in the payments world, mandated by the international payments associations VISA and MasterCard International. To date, in line with the benefits of the technology, we are not aware of situations where credit cards with the Chip and PIN technology have been compromised. If that unlikely scenario occurs, then the situation will be handled in line with the rules as prescribed by VISA and MasterCard International.
How will my First Citizens Chip and PIN Credit Card work?
Your First Citizens Chip and PIN Credit Card allows you to do everything you currently do with your credit card; i.e. local, international and online purchases and cash withdrawals.
The difference that the Chip and PIN technology brings is in how your credit card transaction is processed.
The processing of a purchase transaction depends on whether the merchant’s point of sale machine is chip enabled or non chip enabled. In Trinidad and Tobago and internationally, there are merchants with chip enabled machines and merchants with non chip enabled point of sale machines. Similarly, there are also chip enabled and non chip enabled ATM machines.
The process for online transactions is unchanged. However attention is to be paid to the expiry date which you may agree to store on the sites where you regularly shop.
Will all merchants eventually process credit card transactions on Chip Enabled point of sale machines?
Eventually all merchants worldwide will be using Chip Enabled point of sale machines. Currently the technology is more dominant in Europe but is on the way to becoming the accepted technology worldwide, as this is the mandate of both VISA and MasterCard International.
To ensure a smooth customer experience, Banks which issue credit cards, including First Citizens, will offer credit cards with both magnetic stripe and Chip and PIN technology, so that customers can pay at both Chip Enabled and Non Chip Enabled point of sale machines.
How will my First Citizens Chip and PIN Credit Card work at a chip enabled point of sale or ATM machine?
When doing a purchase at a merchant with a chip-enabled Point of Sale machines, the cardholder is required to enter his/her PIN to verify the transaction, similar to how a LINX transaction is done. The system validates the data on the Chip and the PIN, resulting in a more secure transaction.
There is no requirement for the customer’s signature in this scenario. When the transaction is complete, the merchant will be prompted to remove the card, will receive the sales slip and will provide the customer with his/her copy.
Please note that the card is inserted in the point of sale machine at the start of the transaction and left there for the duration of the transaction. Removal of the card during the transaction will terminate the transaction.
Withdrawals at chip enabled ATMs require the input of the PIN, as is customary.
How will my First Citizens Chip and PIN Credit Card work at a non-chip enabled point of sale or ATM machine?
A purchase at a merchant with a non chip enabled point of sale machine will be processed using the swipe and sign process i.e. the card is swiped and the customer signs the receipt, which is the norm for credit card purchase transactions in Trinidad and Tobago at this time.
Withdrawals at non chip enabled ATM require the input of the PIN, as is customary.
Am I still required to sign at the back of the First Citizens Credit Card with Chip and PIN technology?
Yes. Even though we refer to the credit card as the “First Citizens Credit Card with Chip and PIN technology” please note that the card also carries the magnetic stripe technology.
The magnetic stripe technology allows the cardholder to do a purchase transaction at a merchant whose point of sale machine is not chip enabled. In this scenario, the cardholder will be required to sign the sales receipt and so his signature on the sales receipt will be compared to the signature on (i) the back of the credit card as well as (ii) the form of picture identification presented.
What is the importance of my PIN with my First Citizens Chip and PIN Credit Card?
Your PIN is required to process purchase transactions at chip enabled point of sale machines as well as for cash withdrawals at chip and non chip enabled ATMs.
Therefore your PIN has now become even a more central security element for your purchase transactions, similar to how you process LINX transactions. Whilst a sizeable number of point of sale machines in Trinidad and Tobago may be non chip enabled, it is strongly recommended that you remember your PIN, as you never know when you will interact with a chip enabled point of sale machine, either locally or internationally.
Your First Citizens Chip and PIN Credit Card will be blocked after three (3) inaccurate PIN attempts.
What are the additional fees on the First Citizens Chip and PIN Credit Card?
There are no additional fees. All fees remain unchanged.
Is the Chip and PIN technology available for my Debit/LINX card as well?
This technology is only available on credit cards at this time