EMV Chip Card FAQs from Bank of America

Question 1

Are chip cards secure?

Accepted Answer

Chip technology has been around for over 20 years and is the credit and debit card security standard in many countries around the world. When purchases are made using the chip feature at chip-enabled terminals, the transaction is more secure because of the process used to determine if the card is authentic. This makes the card more difficult to counterfeit or copy.

Chip technology is the next step in providing enhanced security to our card users. Whether you use the magnetic stripe or the chip to make your purchase, you can have confidence in the protection and security features we provide for all credit and debit card accounts.

Remember: If you notice any suspicious activity on your account, notify us immediately by calling the number on the back of your card.

Question 2

Will chip cards prevent merchant compromises?

Accepted Answer

Chip card technology provides an additional layer of security when used at a chip-enabled terminal. The technology may help reduce certain types of fraud that can result from third-party or merchant compromise, but it will not prevent a compromise. Chip cards use dynamic information for each transaction that is verified by the card issuer making it more difficult to capture the customer’s card data and create new fraudulent cards that can be used elsewhere.

Please review our Fraud Prevention FAQs for information about steps you can take to help protect your identity in the event of a compromise.

Please review our merchant compromise FAQs for information about steps you can take to help protect your identity in the event of a compromise.

Question 3

Will chip cards prevent all fraud from happening?

Accepted Answer

No. As the industry continues to develop new ways to protect consumers, criminals continue to develop new ways to commit fraud – which is why the fraud prevention monitoring we provide is important. Chip cards provide an additional layer of security – and, as always, fraudulent transactions using Bank of America credit and debit cards are covered by our $0 Liability Guarantee as long as you report them promptly; visit our account and card security page for additional security tips.^adatext

Please review our Fraud Prevention FAQs for information about recognizing fraud and steps you can take to help protect yourself from fraudsters.

Please review our fraud prevention FAQs for information about recognizing fraud and steps you can take to help protect yourself from fraudsters.

Question 4

Will chip cards allow others to track my location?

Accepted Answer

No. Chip card technology is not a locator system. The chip on your card is limited to supporting authentication of card data when you make a purchase.

Question 5

What is Verify Your Visa Card is With You?

Accepted Answer

Taking action to Verify Your Visa Card is With You allows Bank of America to approve transactions any time you travel for vacation or work – while maintaining world-class fraud protection.

When you make a purchase, we use your phone’s location services capability to compare where the purchase is made to where your phone is located. The feature works with both cellular and Wi-Fi, meaning that if you’re overseas and prefer to avoid using cell service, Verify Your Visa Card is With You will still work when you’re on Wi-Fi.

To enroll in Verify Your Visa Card is With You:

Log in to the Bank of America mobile app.
Select Menu from the Accounts screen (you may need to scroll to the right to locate the Menu button).
Select Profile and settings.
Select Visa Card & Device Location.
Make sure your location services is set to Always for the Bank of America app. This option can usually be located in your phone's settings.

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