Safety first and always!
CPM cares about the security of your account! CPM is taking a proactive approach as card compromises become more and more prevalent. How are we doing that? Simple! We are reissuing all of our existing debit cards and replacing them with the latest in plastics technology - EMV! We have completed our credit card reissues and our first wave of debit reissues will be completed in early February and the second wave in early March. Activate your new EMV debit card as soon as you receive it and destroy your old card! You will notice that the expiration date has been extended so your card will need to be replaced less frequently.
Bringing you the latest in EMV technology is just another way CPM strives to protect our members because to us… Carolina People Matter.
What is EMV? See below to learn more!
What is EMV?
EMV, also known as "smart card" or "chip card", is a new payment technology. It ensures more secure purchases than traditional magnetic stripe.
What does EMV stand for?
Europay MasterCard and Visa
Are chip cards new?
Although chip cards are relatively new in the U.S., they have been used in other countries for many years. In many countries, including Europe, chip cards are the standard. In the U.S. most of the major credit card issuers have reissued chip cards to their cardholders, and financial institutions are now focused on issuing debit cards with chips.
Can I use my chip card in the U.S.?
Yes! Chip technology is new to the U.S. and merchants are beginning to install chip capable terminals and ATMs throughout the U.S. In the meantime, you can continue to use your card using the magnetic stripe as you do today!
What information is stored in the chip?
The chip contains information used to process your transaction at the merchant terminal or ATM. Your personal information is not stored. The chip does not store location tracking capability.
Where can I use my chip card?
You can use your chip card anywhere you would use your existing card. However, now there are two ways to use-swiping it as you normally would or inserting into one of the new EMV terminals.
How do I use it?
When an EMV terminal is available at a retailer, insert the chip end of the card and keep the card there while you follow the prompts.
What if the retailer doesn't have EMV terminals yet?
That's ok - your cards still have magnetic strips for convenience and your PIN stays the same.
Can I use my chip card at the ATM?
Yes! You can still use your card to get cash, check or balance and more. CPM has upgraded all of our CPM branded ATMs to accept the new EMV plastics. This was a requirement of all financial institutions. Simply insert the chip end of your card with the chip facing up.
What should I do if I am not able to select "debit" for my transaction or request cash back when using my chip debit card?
Once you insert your chip debit card into the terminal you will be prompted to either enter your PIN or provide your signature to authorize your transaction. Both ways are secure and result in funds being debited from your account. If the merchant does not allow you to enter your PIN you will not be able to request cash back. In this case, you may use any CPM, CO-OP, or Allpoint ATM to withdraw cash without paying a surcharge. Allpoint ATMs are found at many major retailers, including Target stores and most grocery stores where CPM members shop. CPM is proud to offer you more free ATMs than Bank of America and Wells Fargo combined. At this time, Walmart is not currently offering cash back on EMV debit card purchases nor are they participating in the Allpoint network.
How does this protect against fraud on my card?
With EMV, your purchases are more fraud-resistant than ever before. You do not need to take any extra actions to begin using your EMV-enabled card. Every time you use your card at a chip-enabled terminal, the embedded chip generates a unique transaction code. This prevents stolen data from being fraudulently used.
Why are chip cards more secure?
EMV chip cards are more difficult to counterfeit or copy when used with a chip-enabled terminal or ATM. As always you are not liable for any unauthorized transactions as long as you report any such activity within the designated timeframe.
When will I receive my new EMV chip card?
As of October, all CPM Visa credit cards have been reissued. If you haven’t received your new EMV credit card, please contact us at 800.255.1513. If you have received, be sure to activate as soon as possible and properly destroy your old card. All old cards will be deactivated soon! You will receive a new PIN with your new EMV credit card. Keep this someplace secure!
CPM Visa debit cards with EMV chips will be issued beginning December 7, 2015 for new accounts or cards reissued due to expiration. Please note that the design of the new cards has also been updated.
Is there any additional cost for a chip card?
No, there is no additional cost. However, if you have to replace your chip card, there may be a replacement fee.
What should I do with my existing card?
Once you have activated your new EMV chip card, please destroy your existing card.
Still have questions? Call us at 800.255.1513 for more information or to get assistance.