What is a chip card?
Why are chip cards more secure?
What information is stored on the chip card?
Will chip card transactions be conduct differently than magnetic stripe transactions?
Can I change my PIN?
Is the magnetic stripe is not secure?
Will my Assiniboine chip card still contain a magnetic stripe?
Are there any additional fees with the chip cards?
Will I be able to use my chip card outside of Canada?
Why has the look of the Assiniboine debit card changed?

What is a chip card?

A chip card, or ‘smart card’, has a computer chip embedded right into the plastic. It is like having a personal computer right on your card that is capable of performing a variety of functions, including card authentication and PIN verification.

Why are chip cards more secure?

The chip is encrypted and provides enhanced security with increased defence to help guard against fraud. The enhanced-security features of chip cards make them virtually impossible to copy which provides enhanced security against lost, stolen and counterfeit card fraud.

What information is stored on chip cards?

The embedded microchip holds the same type of information that is currently stored on a magnetic stripe card: payment-related information that will allow the transaction to be authorized and processed. There is no personal information stored on the chip card.

Will chip card transactions be conducted differently than magnetic stripe transactions?

Yes, the way you perform direct payment transactions at a retailer changes slightly. See Using Your Chip Card to learn how to perform these transactions. Using your card at an ATM and for online and telephone banking remains the same. For online and telephone banking you will enter your new card number and your personal access code will remain the same as it was before.

Can I change my PIN?

Changing your PIN is easy with chip technology, simply visit any ACU ATM. Press ‘More’ on the main menu and follow the prompts. You will receive a receipt as confirmation that your PIN has changed. Of course, the new PIN you have chosen will not be printed on the receipt.

Is the magnetic stripe is not secure?

Rest assured that your magnetic stripe card continues to be a safe, reliable and convenient method of payment. While chip cards represent the latest advancements in card payment security, they will only make an already safe payment system even more secure.

Will my Assiniboine chip card still contain a magnetic stripe?

Yes. Given the vast number of ATMs, retail terminals and debit cards across Canada that must be converted, it will take time for the migration to chip to be completed. To ensure you will be able to perform transactions everywhere, your card will still have a magnetic stripe in addition to the chip.

Are there any additional fees with the chip cards?

No, there are no additional fees related to chip. The same fees that currently apply to your ACU account package will remain the same.

Will I be able to use my chip card outside of Canada?

Yes. Many countries have already successfully adopted chip technology and our chip cards will be fully compatible with these systems. In those countries that have yet to switch to chip or do not plan to, cardholders will be able to use their cards since the chip cards will still have a magnetic stripe. Your card can be used at any location that has the Interac, Acculink, Maestro and Cirrus symbols.

Why has the look of the Assiniboine debit card changed?

With the launch of chip, it was a great opportunity to provide our members with a debit card offering both new technology and a fresh look. This card is easily identifiable with Assiniboine Credit Union and makes it easy to identify our chip cards from our older magnetic stripe cards and other cards you might be carrying in your wallet.

For more information about chip cards, please contact our Member Communication Centre.