Use your Deerwood Bank chip-enabled debit card to withdraw cash from thousands of ATMs nationwide or to make purchases wherever MasterCard® is accepted. The funds are automatically deducted from your account so there is no bill to be paid at the end of the month.
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Mastercard Debit Card Benefits:
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All Deerwood Bank Debit Cards now come with chip card security!
See our FAQ section below for information about Chip Cards:
Frequently Asked Questions
Chip card technology is soon becoming the security standard in the U.S. and many merchants are beginning to accept chip cards. They provide greater security when making purchases at chip-enabled terminals since the chip provides better protection against counterfeit fraud.
A chip card is a standard size plastic debit or credit card that contains an embedded microchip as well as a traditional magnetic stripe. The chip encrypts information to help increase data security when making transactions at terminals or ATMs that are chip-enabled.
Yes. Chip technology has been around for over two decades and is already the 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 a unique process that is used to determine if the card is authentic. This makes the card more difficult to counterfeit or copy.
No. As the industry continues to develop new ways to protect consumers, perpetrators continue to look for new ways to commit fraud. Chip cards provide an additional layer of security at chip-enabled terminals, on top of the fraud prevention monitoring we currently provide.
More terminals and ATMs are becoming chip-enabled throughout the U.S. You’ll also enjoy greater acceptance when traveling. Chip technology is common in over 130 countries around the world, including Canada, Mexico and the United Kingdom. Your chip card will still work at terminals and ATMs where only magnetic stripe transactions are accepted.
Yes. You’ll continue to enjoy the same benefits with your chip card as you do today with your debit card.
If a retailer has a chip-enabled terminal, simply insert your chip card face up in the terminal. The chip card will remain in the terminal while the transaction is processed. To authorize your transaction, just follow the prompts as you do today.
You will be prompted to enter your PIN or to provide a signature as you normally would to verify the transaction. Your card is available to be removed from the terminal once the transaction is completed.
If the retailer is not equipped to read the chip card, just swipe as you do today. For transactions made over the phone or online, nothing changes.
When traveling outside the U.S., some card readers at unattended terminals (such as public transportation kiosks, gas pumps) will require a PIN. In these situations, enter your debit card PIN. Some international self-service terminals do not accept U.S. issued debit cards and may display a message such as “Transaction Canceled.” In these cases, please locate an attended terminal to complete your transaction, or plan for an alternative payment method, such as local currency.
Yes, during this transition, you may encounter the following situations:
The chip terminal is installed, but not turned on. Some merchants are not yet allowing any chip cards to be inserted. This will occur frequently in the short-term while terminals are becoming chip-enabled. If you insert your chip debit card and nothing happens, please swipe your card to complete your transaction.
The chip terminal is turned on for chip credit cards only. Some merchants are only allowing chip credit cards to be inserted and plan to allow chip debit cards at a later date. If you insert your chip debit card and nothing happens, please swipe your card and complete your transaction. This does not mean there is anything wrong with your chip card.