USAA Offering EMV Chip and PIN Credit Cards

Prestigious Contributor

EVERYONE -

 

Found (while web surfing) and interesting report about USAA Offering EMV Chip and PIN Credit Cards.

 

USAA MasterCard

 

Here is what you need to know:

 

1. Read this Wikipedia entry concerning EMV (which stands for Europay, MasterCard and Visa).

 

2. Read the USAA Chip and PIN Cards FAQs as well as Related FAQ (PDF) which will answer most of your questions about USAA Offering EMV Chip and PIN Credit Cards.

 

3. View this other Member Community Post concerning USAA Offering EMV Chip and PIN Credit Cards:

 

EMV cards

 

4. Visit this EXTERNAL LINK to view a discussion about USAA Offering EMV Chip and PIN Credit Cards

 

USAA Offering EMV Chip and PIN - Updated With Summary

 

BOTTOM LINE:

 

1. Looks like USAA is in process of converting USAA MasterCards to a Chip and PIN Cards.

 

2. Here is a quote from a USAA Community Manager (found in other Member Community Post shown in 3 above):

 

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Please note that USAA Bank members are eligible to request a chip and PIN card if they plan to work or travel overseas. In the coming years, when more U.S. merchants begin installing the new chip and PIN payment terminals, USAA Bank will convert all of its credit cards to this technology.

 

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Keeping everyone informed.

 

 

20 REPLIES

I have USAA AMEX and USAA VISA.

 

I'm wondering if they'll be considering this technology for these cards too?

Is this by request only, because as far as I know USAA hasn't advertised this service have they? I'm aware of this technology, because it's been in wide-scale use in Europe and Asia for many years. Our banking industry in the US is whoefully behind the curve in this regard.

 

Is this a money issue? Seems to me anything that deters fraud is a money saver in the long run. Seems like a no brainer to me.

 

Spill the beans USAA?

Everyone;

 

Here is a quote from the USAA Chip and PIN Cards FAQs

 

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When will USAA members be able to get a chip and PIN credit card?


USAA Bank members are eligible to request a chip and PIN card if they plan to work or travel overseas. In the coming years, when more U.S. merchants begin installing the new chip and PIN payment terminals, USAA Bank will convert all of its credit cards to this technology.

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Hope this clarifies things.

Everyone;

 

As a response to answering another Member Community Posting about Foreign Transaction Fees found here I sent an e-mail to USAA about EMV Chip and PIN Credit MasterCards.

 

Here is what I sent:

 

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I have read that Members can apply for a EMV Chip and PIN Credit MasterCard.

My Questions Are These:

1. Where on the USAA.com website can I find information about the EMV Chip and PIN Credit MasterCard?

2. Does the EMV Chip and PIN Credit MasterCard offered by USAA still charge the Foreign Transaction Fee?

Thanks in advance for your quick response as I would like to share your answers on the USAA Member Community Forum.

 

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Here is USAA's Response:

 

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Thank for your email regarding the Chip & PIN credit card.
 
Unfortunately, we do not have information posted on the credit card. We can convert your MasterCard ending in **** to a Chip & PIN card. Before we take care of your request, here's some additional information:"

  • The cards will use one assigned 4-digit PIN per account. The cards are available in one design all black.
  • Once a card has been converted it cannot be reverted back to the original card design.
  • There's no change to your rate, credit limit or rewards.
  • New credit cards will be sent to you and all cardholders on the accounts being converted.
  • New cards will be mailed to the address listed on each account.
  • For your protection, the new cards will be mailed separately from the PIN information. Both packets should arrive within 10 business days.
  • You can continue to use the card in the U.S. because it also has the traditional magnetic stripe.

As for foreign transaction fees, the fees are not waived for these type of cards. Thus, MasterCard will still charge the 1% foreign transaction fee.

I would like to thank you for choosing USAA for your financial needs.

Thank you,
Benjamin Yanto
USAA

 

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Keeping Members Informed

The government has stationed us overseas and we submitted a letter to USAA to be exempt from the foreign transaction fees.  This has worked on the credit card but it seems I am still being charged on my ATM card.  Why is this?

klpowers;

 

Welcome to the USAA Member Community Forum.

 

Thank-you for your service.

 

Now as for your post and question.

 

  1. Like credit cards, ATM/Debit Cards are also charged a Foreign Transaction Fee of 1% Of Transaction Amount.

    Applies to debit card or ATM transactions with a merchant or ATM in a foreign country, whether the transaction is originally made in US dollars or converted from foreign currency.

    **Found within the USAA Federal Savings Bank Service Fee Schedule found here.

  2. Since most ATM/Debit Cards are ALSO CREDIT CARDS maybe USAA would exempt your ATM/Debit Card also by simply providing another copy of the same letter to the appropriate department.

  3. You can call 1-800-531-USAA (8722) and speak to one of USAA's Member Service Representatives whom will be happy to assist you. They are open Monday to Friday - 7:30 a.m. to 8 p.m. and Saturday - 9 a.m. to 4 p.m.

Thank you for participating in the USAA Member Community Forum.

Six months ago I provided USAA with a copy of my husband's orders in order to not have to pay the foreign transaction fee on my MasterCard.  Why is this letter not also applicable to our ATM card?  It would seem to me that for one bank, one copy is sufficient for all accounts.  That seems much easier than mailing a copy of the same set of orders to a different department all within the same bank.  I think some adjustments are in order--maybe the right hand needs to know what the left hand is doing.  

Does the letter need to by sent or can it be scanned and emailed?  Will we be reimbursed for the charges already applied?

Thanks for your reply.

Katherine Powers

klpowers,

I wish we had this answer here in the forums. Unfortunately, due to the nature of the question it is something that a member service representative will have to help you solve. Please give them a call at 210-531-USAA (8722)or 800-531-USAA or use the contact us form on usaa.com. 

I have a USAA Visa with an interest rate of 6%.  When I called to inquire about the chip and pin card for my overseas PCS, I was told that I would need to apply for the chip and pin card as a second credit card with a higher interest rate.  The chip and pin is not available for my Mastercard debit card.  I have no idea how I ended up with the credit card as a VIsa and a debit Mastercard. I don't understand why they can't just convert my USAA Visa to the USAA chip and pin Mastercard with the same interest rate. I don't want a pocket full of credit cards nor do I want to lose my 6% interest rate earned by being a dependable member since 2000.