MasterCard Special Edition

Transcription

1 2015 An Empower Federal Credit Union publication. MasterCard Special Edition Important details about our MasterCard conversion.

2 Message From The President John Wakefield President/CEO Why MasterCard? For over 30 years, Empower enjoyed a long-standing business relationship with Visa. Lately, we observed that many credit unions have been converting to MasterCard and it has been a credit union industry trend for quite some time. Due to the requirement to re-issue all credit and debit cards to meet the new chip card EMV (Europay, MasterCard, and Visa) standard by October 15, 2015, we decided last year to fully investigate the benefits of MasterCard and put Visa to the test. After months of detailed analysis and reference checking, we were convinced that it was in our members best interest to convert to MasterCard. MasterCard will provide free to our membership, in addition to the benefits provided by Visa such as zero liability and global card replacement services, cardholder benefits that far exceed those currently offered by Visa such as: 1. Identity Theft Resolution Services 2. Price Protection 3. Extended Warranty 4. Airport Concierge 5. Priceless Cities 6. Global Concierge (World Card only) 7. Trip Cancellation (World Card only) Other benefits also include the ability to change your PIN over the phone using IVR (Interactive Voice Response), separate card numbers tied to the same membership account, and unique card designs for all types of cards, including: Platinum MasterCard, World MasterCard, Debit MasterCard, Business Credit and Debit MasterCard, and HSA Debit MasterCard. Will my Credit Card Rewards Points Program change? No. The Visa Rewards Program is really the Empower Rewards Program. However, because Empower ultimately is responsible in conjunction with either Visa or MasterCard for its Rewards Program, we can change the rewards level at any time. If anything, we are currently researching new and better ways to provide Rewards in the future. Again, there will be no changes for Will my current Rewards Points totals convert as well? Yes, your totals will convert. Since Empower is responsible to manage its own Rewards Program in conjunction with Visa or MasterCard, you do not need to do anything as the Rewards Program is not changing at this time. What other changes will be coming to Empower s Credit Card programs? After a full and thorough investigation, we realized that although our credit card is set at a variable rate (meaning Empower can change it at anytime), we will be adding an index (typically the prime rate) plus margin in the near future. This is similar to almost all other credit card programs offered by other financial institutions and is considered an industry best practice. You will receive more information and disclosures about how the rate will be calculated and how it can change at a later point in time. Questions? Please take some time reading through the enclosed materials. We hope that after you read through the benefits, you will agree with us that the benefits of MasterCard far exceed those of Visa. Thank you for your continued support through this ongoing conversion to MasterCard Empower Platinum MasterCard Empower World MasterCard Empower Debit MasterCard Empower Business MasterCard Federally Insured By NCUA 2 Empower Federal Credit Union SPOTLIGHT

3 A New Level of Security Your new card has an embedded microchip for a more secure transaction. Simply insert your card at checkout when possible. If a chip-friendly reader is not available, you can swipe your card as you always have. Q: What are chip cards? A: The chip contains your card number, name, and other account information. There is no other personal information stored on the chip. Due to security in the chip, every transaction you make is unique, which makes it extremely difficult for the card to be copied or counterfeited. Your chip card will also have the usual magnetic stripe on the back so that you can continue using your card while merchants are transitioning to new chip card terminals. Q: What are the benefits of chip technology? A: The embedded microchip provides dynamic transaction security features and other capabilities not possible with traditional magnetic stripe cards. A chip card is extremely difficult to counterfeit. Q: Why is my card being upgraded to a chip card? A: Chip technology is already used in other countries and now coming to the U.S. Your new chip card provides an extra level of security and is easier to use at international locations. Q: How is this card different from a magnetic stripe card? A: A chip card looks just like a traditional card with an embedded chip in addition to the standard magnetic stripe on the back of the card. Rather than swiping your card, you will insert your chip card into the card terminal to complete the transaction. Q: How does chip technology work? A: Every transaction with a chip card has unique data in it. Chip transactions are dynamic, not static like magnetic stripe cards. That is why if someone were able to intercept one of your chip transactions they would not be able to use that information again. This stops fraudsters from being able to create counterfeit chip cards. Q: Are chip cards new? A: Although chip cards are relatively new in the U.S., they have been used elsewhere for many years. In some countries, particularly in Europe, merchants may be more familiar with accepting chip cards. Q: Where can I use my chip card? A: Use your chip card at the exact same merchants you do now by inserting the card into card terminals that are chip enabled or swiping your card at merchant locations that have not yet switched to chip-enabled card terminals. You can also continue to use your card as you did before for online payments, telephone payments, and at ATMs. About Your PIN For security purposes, each cardholder will receive a randomly selected PIN mailer, with the new card to follow a few days later. Each cardholder may use the randomly selected PIN or may select their own PIN, by following the instructions that will be enclosed with each PIN mailer. ACTIVATION IMPORTANT Each cardholder will receive a card with a unique account number. We highly recommend activating all cards on joint accounts at the same time, as all current cards will be deactivated once any of the new MasterCard cards attached to the same account are activated. You may call to activate your card(s). Activation instructions will be included with each card. Empower Federal Credit Union SPOTLIGHT 3

4 Empower Platinum MasterCard Credit Card All existing credit cardholders with a credit line of less than $5000 will automatically receive the new Empower Platinum MasterCard to replace their existing Visa Platinum card. If there is more than one cardholder on the account, each will receive a unique card number. All cards will still remain attached to the same credit limit as they are today. Purchases from each card will still accumulate joint rewards points and will continue to have one statement. Each card will be mailed separately and must be activated separately. Further instructions will be enclosed with the cards when received, but we highly recommend activating all cards on the account at the same time, as all current Visa Platinum cards will be deactivated once any of the new MasterCard cards attached to the same account are activated. Benefits* at-a-glance Price Protection 60 days Should you find a lower price for a new item within 60 days from the date of purchase using your eligible MasterCard card, you may be reimbursed for the price difference.* Extended Warranty 1 year Doubles the original manufacturer s or store brand warranty for up to one year when you pay with your eligible MasterCard card.* Identity Theft Resolution Services Assists you with credit bureau notification and credit card replacement, and provides you with an ID Theft Affidavit should you become the victim of Identity Theft.* Zero Liability 1 Pay only for purchases which you have authorized on your MasterCard card. Unauthorized purchases are not your responsibility. Conditions and exceptions apply. MasterCard Global Emergency Services Provides 24 hours a day, seven days a week customer service assistance with Lost and Stolen Card Reporting, Emergency Card Replacement, Emergency Cash Advance, as well as assistance with locating ATMs and help with accountrelated questions. Priceless Cities Get insider access to one-of-a-kind experiences and offers in some of the world s most exciting cities. Airport Concierge Arrange for a personal, dedicated Meet & Greet agent to escort you through the airport on departure, arrival or any connecting flights, 24/7/365 at over 450 destinations worldwide. Benefits Guide A complete guide to benefits will be included with your new card(s). This guide will contain specific details on the benefits available and how to obtain these services, should they become needed. *These are summary descriptions only. Additional terms, conditions and exclusions apply. Valid for Empower Federal Credit Union Platinum MasterCard MasterCard. All rights reserved. MasterCard, the MasterCard Brand Mark and Priceless are registered trademarks of MasterCard International Incorporated. All third party trademarks shall belong to their respective owners. 1 Zero liability does not apply if the account is not in good standing or cardholder has not exercised reasonable care in safeguarding the card from theft or loss. See for more details. 4 Empower Federal Credit Union SPOTLIGHT

5 Empower World MasterCard Credit Card All existing credit cardholders with a credit line of $5000 and above will automatically receive the new Empower World MasterCard to replace their existing Visa Platinum card. If there is more than one cardholder on the account, each will receive a unique card number. All cards will still remain attached to the same credit limit as they are today. Purchases from each card will still accumulate joint rewards points and will continue to have one statement. Each card will be mailed separately and must be activated separately. Further instructions will be enclosed with the cards when received, but we highly recommend activating all cards on the account at the same time, as all Visa Platinum cards will be deactivated once any of the new cards attached to the same account are activated. Benefits* at a Glance Price Protection 120 days Should you find a lower price for a new item within 120 days from the date of purchase using your eligible MasterCard card, you may be reimbursed for the price difference.* Extended Warranty 2 year Doubles the original manufacturer s or store brand warranty for up to two years when you pay with your eligible MasterCard card.* Identity Theft Resolution Full Restoration Services Assists you with credit bureau notification and credit card replacement, and provides you with an ID Theft Affidavit should you become the victim of Identity Theft.* Zero Liability 1 Pay only for purchases which you have authorized on your MasterCard card. Unauthorized purchases are not your responsibility. Conditions and exceptions apply. MasterCard Global Service Get assistance virtually anytime, anywhere with your card related questions. Call 800-MasterCard or MasterCard Global Service helps you with reporting a Lost or Stolen Card, obtaining an Emergency Card Replacement or Cash Advance, finding an ATM location, and answering questions on your account. Priceless Cities Get insider access to one-of-a-kind experiences and offers in some of the world s most exciting cities. Airport Concierge Arrange for a personal, dedicated Meet & Greet agent to escort you through the airport on departure, arrival or any connecting flights, 24/7/365 at over 450 destinations worldwide. MasterCard Global Concierge Service This service provides World MasterCard cardholders with comprehensive, personalized assistance accessible 24 hours a day, 365 days a year. The specially trained team is the single source for securing dinner reservations, tickets to events, coordinating business arrangements, locating hard-to-find items or booking travel. Trip Cancellation Insurance Protects you and your family against forfeited, non-refundable, unused payments and deposits if your trip is interrupted or cancelled and you have purchased your common carrier tickets with your eligible MasterCard card.* *These are summary descriptions only. Additional terms, conditions and exclusions apply. Valid for Empower Federal Credit Union World MasterCard MasterCard. All rights reserved. MasterCard, the MasterCard Brand Mark, World MasterCard and Priceless are registered trademarks of MasterCard International Incorporated. All third party trademarks shall belong to their respective owners. 1 Zero liability does not apply if the account is not in good standing or cardholder has not exercised reasonable care in safeguarding the card from theft or loss. See for more details. Empower Federal Credit Union SPOTLIGHT 5

6 Empower Debit MasterCard The Empower Federal Credit Union Debit MasterCard lets you make purchases and withdraw cash with ease. Millions of people use Debit MasterCard cards to make purchases wherever Debit MasterCard is accepted. Purchase amounts and cash withdrawals are automatically deducted from your checking account and listed on your monthly account statement. Benefits* at-a-glance Worldwide Acceptance - Debit MasterCard can be used at over 38.1 million locations worldwide gas stations, grocery stores, department stores, restaurants, airlines, hotels, doctors offices and internet merchants and over 2 million ATMs. No Interest Charges - Purchase amounts are automatically deducted from your checking account. Enhanced Security - Using your card is safer than carrying a lot of cash or checks. You can shop with confidence on the internet, by phone or in person knowing you re protected. If your card is lost or stolen, or if your card number is used without your permission, you ll have zero liability for unauthorized purchases. Exceptions apply. 1 Extended Warranty 1 year - Doubles the original manufacturer s or store brand warranty for up to one year when you pay with your eligible MasterCard card.* Identity Theft Resolution Services - Assists you with credit bureau notification and credit card replacement, and provides you with an ID Theft Affidavit should you become the victim of Identity Theft.* MasterCard Global Service - Get assistance virtually anytime, anywhere with your card related questions. Call 800-MasterCard or MasterCard Global Service helps you with reporting a Lost or Stolen Card, obtaining an Emergency Card Replacement or Cash Advance, finding an ATM location, and answering questions on your account. Price Protection 60 days - Should you find a lower price for a new item within 60 days from the date of purchase using your eligible MasterCard card, you may be reimbursed for the price difference.* Satisfaction Guarantee - If you become dissatisfied with a product you purchase using your eligible MasterCard card within 60 days of purchase, and the store will not accept a return, you may be eligible for a refund for the cost of the product up to $250.* Zero Liability 1 - Pay only for purchases which you have authorized on your MasterCard card. Unauthorized purchases are not your responsibility. Conditions and exceptions apply. Priceless Cities Get insider access to one-of-a-kind experiences and offers in some of the world s most exciting cities. Airport Concierge Arrange for a personal, dedicated Meet & Greet agent to escort you through the airport on departure, arrival or any connecting flights, 24/7/365 at over 450 destinations worldwide. *These are summary descriptions only. Additional terms, conditions and exclusions apply. Valid for Empower Federal Credit Union Debit MasterCard MasterCard. All rights reserved. MasterCard, the MasterCard Brand Mark and Priceless are registered trademarks of MasterCard International Incorporated. 1 Zero liability does not apply if the account is not in good standing or cardholder has not exercised reasonable care in safeguarding the card from theft or loss. See for more details. All third party trademarks shall belong to their respective owners. 6 Empower Federal Credit Union SPOTLIGHT

7 ATM Card Changes If you currently carry an Empower ATM card, watch for a special mailing. We will be converting all ATM cards to an Empower Debit MasterCard. You will enjoy the surcharge free ATM access at Empower, Sharenet, Allpoint, and select Southern Tier ATM locations. Empower HSA + Debit MasterCard Offers: Identity Theft Resolution Services Assists you with credit bureau notification and credit card replacement, and provides you with an ID Theft Affidavit should you become the victim of Identity Theft.* MasterCard Global Emergency Services Provides 24 hours a day, seven days a week customer service assistance with Lost and Stolen Card Reporting, Emergency Card Replacement, Emergency Cash Advance, as well as assistance with locating ATMs and help with account-related questions. + Health Savings Account *These are summary descriptions only. Additional terms, conditions and exclusions apply. Valid for Empower Federal Credit Union Debit MasterCard and HSA Debit MasterCard MasterCard. All rights reserved. MasterCard, the MasterCard Brand Mark and Priceless are registered trademarks of MasterCard International Incorporated. 1 Zero liability does not apply if the account is not in good standing or cardholder has not exercised reasonable care in safeguarding the card from theft or loss. See for more details. All third party trademarks shall belong to their respective owners. Empower Federal Credit Union SPOTLIGHT 7

8 Empower Business Credit and Debit MasterCard Business Credit: All existing business accounts that currently have our consumer Visa Platinum card will receive a new Empower Business MasterCard Credit Card. If applicable, when there is more than one cardholder on the account, each will receive a unique card number. All cards will still remain attached to the same credit limit as they are today. Each card will be mailed separately and must be activated separately. Further instructions will be enclosed with the cards when received, but we highly recommend activating all cards on the account at the same time, as all current Visa Platinum cards will be deactivated once any of the new MasterCard cards attached to the same account are activated. Business Debit: All existing business accounts that currently have our consumer Visa Debit Card will receive the new Empower Business Debit MasterCard. If there is more than one cardholder on an account, each will receive a unique card number. All cards will still remain attached to the same checking account as they are today. Benefits* at-a-glance Better manage cash flow while focusing on their business Easily oversee and control employee spending Protect against unauthorized purchases, whether they occur online, by telephone, or in stores with MasterCard Zero Liability. Certain restrictions apply 1 Unsurpassed global acceptance so they can take care of business anywhere in the world Extended Warranty 1 year - Doubles the original manufacturer s or store brand warranty for up to one year when you pay with your eligible MasterCard card.* Identity Theft Resolution Services - Assists you with credit bureau notification and credit card replacement, and provides you with an ID Theft Affidavit should you become the victim of Identity Theft.* MasterCard Global Service - Get assistance virtually anytime, anywhere with your card related questions. Call 800-MasterCard or MasterCard Global Service helps you with reporting a Lost or Stolen Card, obtaining an Emergency Card Replacement or Cash Advance, finding an ATM location, and answering questions on your account. Purchase Assurance - Provides coverage for most items you purchase with your eligible MasterCard card if the item is damaged or stolen within 90 days of the date of purchase.* Zero Liability 1 - Pay only for purchases which you have authorized on your MasterCard card. Unauthorized purchases are not your responsibility. Conditions and exceptions apply. Priceless Cities Get insider access to one-of-a-kind experiences and offers in some of the world s most exciting cities. Airport Concierge Arrange for a personal, dedicated Meet & Greet agent to escort you through the airport on departure, arrival or any connecting flights, 24/7/365 at over 450 destinations worldwide. *These are summary descriptions only. Additional terms, conditions and exclusions apply. Valid for Empower Federal Credit Union Business Debit MasterCard and Business Credit MasterCard MasterCard. All rights reserved. MasterCard, the MasterCard Brand Mark and Priceless are registered trademarks of MasterCard International Incorporated. 1 Zero liability does not apply if the account is not in good standing or cardholder has not exercised reasonable care in safeguarding the card from theft or loss. See for more details. All third party trademarks shall belong to their respective owners. 8 Empower Federal Credit Union SPOTLIGHT

9 Frequently Asked Questions Q: When will all of this happen? A: PIN mailers and new cards will begin to be mailed out in late July with completion targeted for early September. Further communication will be sent as the time gets closer to let you know your cards are on the way. Q: Why are you replacing my existing card with a new MasterCard? A: We ve partnered with MasterCard to better serve you and provide enhanced benefits. Q: Where can I use my new MasterCard? A: Your new card offers unsurpassed acceptance for purchases at millions of places wherever MasterCard is accepted, such as restaurants, gas stations, doctors offices, department stores, home improvement stores, airlines, hotels, and online merchants. Q: What should I do about charges automatically billed to my old card? A: You must provide your new card number and expiration date to companies (like online service providers newspapers, or the phone company) that automatically bill your card. Q: How do I keep track of my transactions? A: All transactions will be listed on your monthly account statement. Plus you can check the status of your account or review transactions 24-hours a day at Q: What should I do if my card becomes lost or stolen? A: You should contact us immediately by calling Q: So what do I do now? A: Watch for further communication to come on when to expect your PIN and card(s) in the mail. Once you receive your new card(s), activate as soon as possible and begin using your card everywhere MasterCard is accepted. It s that easy. Q: I have a joint account, and each of our cards have a different number. Is it still a joint account? A: Yes, although the account is joint, each cardholder has a unique card number embossed on their plastic. All cards will still remain attached to the same credit limit as they are today. Purchases from each card will still accumulate joint rewards points and will continue to have one statement. Plus, if one of the cards is lost or stolen, we can simply block the impacted card instead of the entire account. Q: Will my Credit Card Rewards Points Program change? A: No. The Visa Rewards Program is really an Empower Rewards Program and is determined by Empower, not Visa or MasterCard. However, because Empower determines the Rewards Program, we can change it at any time. If anything, the Empower Rewards Program will be improved. We are currently researching new and better ways to provide Rewards in the future. There will be no changes to the Rewards Program in Q: Will my current Rewards Points totals convert as well? A: Yes. Since Empower manages its own Rewards Program, you do not need to do anything as the Rewards Program (and vendor) is not changing at this time. Your Reward Points total will convert. Q: How do I activate my Card(s)? A: You may call to access the Interactive Voice Response (IVR) system 24/7. This makes it easy and convenient to activate your card(s). Q: How do I change my PIN? A: You may call to access the Interactive Voice Response (IVR) system 24/7. This makes it easy and convenient to change the PIN. Q: Will you offer Apple Pay? A: Yes, we will be implementing Apple Pay. Watch for details and follow us on Facebook and Twitter. Empower Federal Credit Union SPOTLIGHT 9

10 Introducing Empower MasterPass The perfect combination of security and convenience when making purchases. Safely store payment & shipping information so you can spend less time typing and more time enjoying the things you love. Shop with confidence at any online merchant, large or small, that displays the MasterPass button. Q: What is MasterPass? A: MasterPass by MasterCard is a digital wallet service that makes online shopping safe, easy, and convenient. MasterPass stores all your payment and shipping information in one central, secure location. With MasterPass, you can shop, click (or tap), and checkout faster online. Q: What cards can I use with MasterPass? A: You can add credit, debit, or prepaid cards from MasterCard, Maestro, American Express, Diner s Club, Discover, and Visa. When entering your card information into your wallet, first enter your Empower issued card, and then you ll be able to add up to 25 additional cards. Q: How do I use MasterPass to buy something? A: Once you ve filled your online shopping cart and are ready to checkout, click or touch the Buy With MasterPass checkout button and select your MasterPass-connected wallet. Sign in may take place on the checkout page or you may be redirected to MasterCard to complete the sign in process. Once logged in, you can choose from your list of stored payment cards and shipping addresses. If you wish to use a card or shipping address that you haven t already added to your MasterPass, just click or tap the Add option. Once you choose your card and shipping location, you ll have an opportunity to review your order before completing checkout. Q: Is MasterPass safe to use? A: Absolutely. It s our top priority to keep your personal information safe. MasterCard uses secure servers and multi-part authentication including your login, address verification, encrypted data transmission, and other advanced authentication tools. Mobile/SMS verification is an optional setting you may use for an additional layer of security. Q: Do I have to pay to use MasterPass? A: No, there are no fees or charges to use MasterPass. But remember, if you ever opt to receive notifications about your account by text message, you may incur standard messaging fees from your mobile phone carrier. Q: What is Mobile Verification? A: Mobile verification is an additional safety measure to keep your personal information secure. It protects your account from abuse or compromise at sign in. While MasterPass doesn t charge you for these text messages, please keep in mind that, depending on your text and data plan, you may incur standard messaging charges from your mobile provider. MasterPass can be used on: Tablet Devices Smart Phones Laptop or Desktop Computers You can add this extra layer of security by enabling Mobile Verification in your Preferences. During checkout from your computer, after you ve selected your card and shipping address, you will receive a text message with a 4-digit verification code to your mobile phone; enter that one-time-use verification code and checkout is complete. Visit to sign up for MasterPass and to learn more. 10 Empower Federal Credit Union SPOTLIGHT

11 Empower Prepaid MasterCard Gift Cards With Empower Prepaid MasterCard Gift Cards, now you can give something straight from the heart: the freedom to buy whatever they like, wherever they like. You won t have to worry about making a bad gift choice that has to be returned, or is never used. Sure, cash is flexible, but you can t use it to shop online. As for store gift cards, they re limited to just one store. Where s the fun in that? Empower Federal Credit Union s Prepaid MasterCard Gift Cards can be used anywhere Debit MasterCard is accepted. And they re safe, secure, with a style all their own that s thoughtful and personal. Cost = $3.00 each Introducing Empower Prepaid Reloadable Cards Empower is pleased to introduce a new prepaid-reloadable card option for our members. Reloadable prepaid cards can make your life easier by giving you more choices. They offer easy access to money through ATMs, and allow you to shop online, over the phone and anywhere Debit MasterCard is accepted. Initial cost of $3.00 and $2.00 reloading cost. Cash Advance Options Empower Federal Credit Union branches will now be offering Cash Advance services for all MasterCard, Visa, and Discover cards. What to Expect: June July-September July-September By October 15 th 2015 An Empower Federal Credit Union publication. MasterCard Special Edition Newsletter PIN Mailer (Personal Identification Number) New Card(s) Arrive Use Please review this special edition closely. Once you receive and activate your card, you may also opt to change the randomly selected PIN. Activate your card(s). If you have a joint account, each card holder now has a unique card number (they are no longer the same). Each card will need to be activated separately. Enjoy the many benefits of your Empower Federal Credit Union MasterCard! Your existing Visa account will no longer be valid after 10/15/2015. Empower Federal Credit Union SPOTLIGHT 11

12 1 Member Way Syracuse, NY STANDARD U.S. POSTAGE PAID LANGHORNE, PA PERMIT 114 Important Notice