Card chip technology

[Playa]

So my bank made me switch my debit card out for a new one with chip technology, because of the increased security. But nobody at the bank can explain exactly how it increases security.

Anyone on here have an idea?

[gneimeth]

Chip is encrypted with your pin when you use it / the card and your personal pin are synced to prevent fraud. Europe has been using this technology for years and the U.S. has finally gotten onboard (or the retailers have).

[gneimeth]

It’s not that simple - but I made it simple for you to understand

[Puggy625]

And it isn't any better than the old magnetic strip was. Been hacked twice since going to chip card. They want it, they will get it.

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[bphillips]

And it isn't any better than the old magnetic strip was. Been hacked twice since going to chip card. They want it, they will get it.

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The problem is some places still require you to swipe even if you have a chip

[TMC50]

Chip is encrypted with your pin when you use it / the card and your personal pin are synced to prevent fraud. Europe has been using this technology for years and the U.S. has finally gotten onboard (or the retailers have).

Riddle me this then...... it’s encryted with our pin yet we still have to enter our pin?

I run it as credit any time I can but what really gets me is at Walmart. Hit no pin and it approves it without zip code or signature(granted I sign everything as John wayne)

[scott.str]

I'm on my 3rd card with a chip. They go bad so fast

[HoustonHunter]

If you’re gonna give me a chip, imma want some queso and a margarita...

[gneimeth]

If you’re gonna give me a chip, imma want some queso and a margarita...

Winna!

[Bullydog]

If most folks would just run everything they can as credit, it would defeat a lot of this. Especially at gas pumps. And use ATM's inside banks or businesses when you can. I always pull on the card slot before inserting my card in any machine. I have pulled off one skimmer already doing this. Would have never known it was there, by looking at it.

[AgHntr10]

If most folks would just run everything they can as credit, it would defeat a lot of this. Especially at gas pumps. And use ATM's inside banks or businesses when you can. I always pull on the card slot before inserting my card in any machine. I have pulled off one skimmer already doing this. Would have never known it was there, by looking at it.

Same here. I have never found a skimmer but I pull on everyone before I use them and like you said run it as credit not debit.

[BrianL]

Mag strips can be copied onto any card with a mag strip with equipment bought over the internet, making cards VERY EASY to duplicate. While chips aren't the best thing out, they are much better and safer than 70-80s tech of mag strip. It all but stops copied cards.

[Bowtech1233]

Riddle me this then...... it’s encryted with our pin yet we still have to enter our pin?

I run it as credit any time I can but what really gets me is at Walmart. Hit no pin and it approves it without zip code or signature(granted I sign everything as John wayne)

The reason you have to enter the pin is that this authenticates you as the user. The data between the merchant and the banks is what is encrypted. The PIN is the most secure method of transaction available. Notice that the rest of the world has been using chip technology for years, but they do chip and PIN. The way we have implemented it in the US is different, and not in a good way.

[ultralite09]

Same here. I have never found a skimmer but I pull on everyone before I use them and like you said run it as credit not debit.

Glad I'm not the only one that does this. Thought I would get crazy looks lol

[gneimeth]

The reason you have to enter the pin is that this authenticates you as the user. The data between the merchant and the banks is what is encrypted. The PIN is the most secure method of transaction available. Notice that the rest of the world has been using chip technology for years, but they do chip and PIN. The way we have implemented it in the US is different, and not in a good way.

This!