Do you have questions about banking? Just ask Alex, our expert banker, to get the advice you need for your banking success. Learn how the chip in your debit card works. Discover what to do when you are having log 0n issues with online banking. Find out how you can deposit a third party check into your account.
Question: What is the chip in my debit card and how does it work? – Brad from Tempe, Arizonia
Answer: Debit and credit cards are now embedded with EMV chip technology. EMV stands for “Europay, MasterCard and Visa” and has been used in Europe since 1994. These cards have microprocessor chips that store and protect the cardholder’s data. Instead of using the magnetic stripe like traditional debit and credit cards, the EMV card creates a unique one-time code for each transaction. Without the chip, counterfeit EMV cards cannot be used for onsite retail purchases without the PIN (Personal Identification Number). It also prevents online hackers from getting the cardholder’s checking account number when a data breach occurs. Because the chip cards have reduced fraud in comparison to the magnetic stripe cards, the United States started to transition to EMV cards in 2015. They are now the industry standard.
Question: I am having issues logging into my online banking. What are my options? – Denise from St. Paul, Minnesota.
Answer: Every bank’s online banking platform is a little different. If you are having issues logging in, the best thing to do is to call your bank’s customer service department and they can help you troubleshoot. Problems can include issues with your computer/internet, forgetting the password/user id, and not signing up for online banking. Make sure to be on your computer and have your financial institution’s online banking homepage pulled up before you call. If the issue is with the computer/internet, you may have to contact a computer repair shop or your internet provider to get the problem resolved.
Question: How can I deposit my daughter’s checks in to my checking account? – Cindy from Reno, Nevada
Answer: If your daughter is eighteen years old or older, the bank will not deposit her check unless she is either on your account as a joint owner or she is physically present at the branch and signs the check over to you. For the latter, on the back of the check, where the endorsement line is, your daughter will need to write “Pay to the order of (your name)” followed with her signature and then finally yours. If your daughter is under the age of eighteen, all you have to do is write “For minor” on the endorsement line and underneath that you will endorse the check.
Written by: Alex Sanchez, Branch Manager
Important: For your specific questions about banking, contact your banking expert, Alex, at: email@example.com
Alex is starting his 18th year in the banking industry. He has worked for such notable banks as Bank of America, US Bank, and Chase. Alex has his bachelor’s degree in Business Economic from the University of California Riverside.