Bank of America has an FAQ about chip cards and how they can be used to reduce credit card fraud.
The credit and debit card security standard in many countries around the world is due to the fact that chip technology has been around for over 20 years.When purchases are made using the chip feature at chip-enabled terminals, the transaction is more secure because of the process used to determine if the card is authentic.The card is more difficult to counterfeit.
Enhancement of security to our card users is the next step.You can have confidence in the security features we provide for all credit and debit card accounts if you use the magnetic stripe or chip.
To report suspicious activity on your account, call the number on the back of your card.
An additional layer of security is provided by chip card technology.The technology may help reduce certain types of fraud, but it won't prevent a compromise.Chip cards use dynamic information for each transaction that is verified by the card issuer making it more difficult to capture the customer's card data and create new fraudulent cards that can be used elsewhere.
In the event of a compromise, there are steps you can take to protect your identity.
No.Fraud prevention monitoring is important because the industry continues to develop new ways to protect consumers.As always, fraudulent transactions using Bank of America credit and debit cards are covered by our $0 Liability Guarantee as long as you report them promptly; visit our account and card security page for additional security tips.
If you want to learn more about recognizing fraud and how to protect yourself from fraudsters, please review our Fraud Prevention FAQ.
No.A locator system is not a chip card technology.The chip on your card cannot be used to make a purchase.
If you take action to verify your Visa card, Bank of America will approve transactions when you travel for work or vacation.
We compare where the purchase is made to where your phone is located when you make a purchase.If you prefer to avoid using cell service while overseas, you can use the Verify Your Visa Card is With You feature.
We want to give you information about products and services that you might find useful.Online behavioral advertising and relationship-based ads help us do that.
We gather information about your online activities, such as the searches you conduct on our Sites and the pages you visit.This information may be used to deliver advertising on our Sites and offline that's tailored to your interests, for example by phone, email and direct mail.