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When will banks actually start issuing chip + pin cards in the US? It doesn't help US consumers much if the retailers accept them, but the banks don't issue the
by zippergz 12y ago
When will banks actually start issuing chip + pin cards in the US? It doesn't help US consumers much if the retailers accept them, but the banks don't issue them. I have credit cards with four banks (probably the biggest 4 in the US, but I don't know exactly how they stack up). One is chip+signature, and the rest don't have chips at all. Including a brand new one I got from a huge bank less than a month ago.
- bdb 12y agoAfter the EMV liability shift date (October 2015), the fraud liability for a card-present, non-EMV transaction falls on the party which was noncompliant, the issuer or the merchant. Hopefully this will be a significant driver of EMV adoption by both issuers and merchants.
- zrail 12y agoBoth cards that I recently received have a chip. One of them is a debit card so it already has a pin, and presumably at some point I'll at least have the option to get a pin for my credit card.
- zippergz 12y agoMy understanding (and it's entirely possible I'm mistaken) is that chip+pin and chip+signature cards are not interchangeable. In other words, I don't think you can just take a chip+signature card and "get a pin" for it. And the one card I've received with a chip (from Bank of America) is definitely chip+signature. I'd love to be told I'm wrong, and that this can be made into a chip+pin card without physically swapping the card.
- zrail 12y agoI had no idea that it wasn't possible to get a pin, but now having done some research it looks like I was wrong. I wonder if it has something to do with them using the existing pin infrastructure for ATM cash advances.
- aianus 12y agoDo you have a source for this? I distinctly remember my Canadian credit card starting off as chip and signature and sometime later start asking me for my PIN.
- mcpherrinm 12y agoI think I saw an option on the Bank of America website to get chip & pin, though they were advertising it as for use internationally.