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Q: What is a GEICO FCU VISA Debit card? |
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A.
The GEICO FCU VISA Debit card is a replacement for carrying
cash and/or your checkbook. Just present the GEICO FCU
VISA Debit card wherever VISA Debit is accepted and your purchase
will be deducted from your GEICO FCU checking account. You
can use your VISA Debit card as an ATM card at all ATM
machines that display the Star, Plus, Exchange, or VISA
logo and use it instead of writing a check anywhere
VISA Debit is accepted. When you use your card as an ATM
card with your PIN number, you can access both your savings
and checking account.
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2.
Q: Why would I want to use the GEICO FCU VISA Debit card?
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A.
You will spend less time waiting in line for check approval
or identification verification. Simply present your card
at the checkout counter, choose the CREDIT option to
avoid any transaction
fee, sign your receipt and be on your way. You may also
choose the DEBIT option, and enter your PIN. When you
choose the DEBIT option, you enjoy unlimited FREE PIN
transactions at ALL GEICO FCU ATMs or six (6) FREE PIN transactions
at foreign ATM machines/POS devices. After the 6th PIN
(DEBIT) transaction per month at foreign ATM machines/POS
devices, you will be charged $1.00 per transaction by
GEICO FCU. This is in addition to any fees charged by the foreign
ATM machine/POS device owner. But remember, if you
choose the CREDIT option, all transactions are free. So
choose CREDIT.
With
the GEICO FCU VISA Debit card you have 24 hours access to your
funds and you need only one (1) card for both ATM and
debit purchases. The GEICO FCU VISA Debit card can be used
at over 22 million locations in 300 countries and territories
worldwide where VISA Debit card is accepted and at over
930,000 ATMs and banks. Shop at department stores, restaurants,
hardware stores, catalog companies and on the Internet
with the convenience and security of VISA.
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3.
Q: Is there a charge for the VISA Debit card?
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A.
No. The GEICO FCU VISA Debit card is free with a GEICO
FCU checking
account. However, there may be a charge for replacement
VISA Debit cards/PINs. If you have been issued more than
one replacement card within a 3 year period, a $7.50 replacement
fee will be charged for each replacement card and/or PIN
thereafter.
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4.
Q: How do I know if I am eligible for a GEICO FCU VISA
Debit
card?
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A.To
apply for a card, you must be at least 18 years of age,
a member in “good standing”, have met the $50.00 minimum
requirement in your primary savings account (S1), and
have a GEICO FCU checking account (S30) with a positive balance.
When you apply for the card, we review your GEICO FCU account
history and obtain information from credit verification
services to determine your eligibility.
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5.
Q: Who is a member in good standing?
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A.
A member in “Good Standing” is a member who has never
caused GEICO FCU a loss through bankruptcy or delinquency,
maintains the minimum $50.00 balance in their primary
share (S1) account for membership, has no delinquent loans,
does not have any overdrawn accounts, does not have any
restrictions on their account such as liens or garnishments
and has a valid residential address & phone number
in the United States. We do not consider a P. O. Box a
valid residential address.
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6.
Q: How do I apply for a GEICO FCU VISA Debit card?
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A.
You must complete the GEICO FCU VISA Debit card application.
The application can be obtained from our website (www.geicofcu.org),
by visiting a branch or by requesting that an application
be mailed to you. The application with an original signature
must be returned to the credit union for processing. Faxes
will not be accepted.
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7.
Q: How long will it take to receive my VISA Debit card
and PIN?
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A.
When a new VISA Debit card is ordered, it will arrive
within 10 business days. For security purposes, the PIN
is mailed 2 business days after the card is mailed.
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8.
Q: How do I activate my GEICO FCU VISA Debit card?
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A.
You can activate your GEICO FCU VISA Debit card when you receive
your PIN by performing a PIN-based transaction or balance
inquiry at any ATM machine displaying the Star, Plus,
Exchange or VISA logos.
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9.
Q: If I forget my PIN, will the credit union staff be
able to give it to me?
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A.
No. To ensure that the security of your account is never
compromised, credit union employees do not have access
to your PIN. If you cannot remember your PIN, you will
have to request a duplicate PIN by completing a new application.
After we receive the new application with an original
signature, your PIN will be mailed to you. The application
can be obtained from our website (www.geicofcu.org)
or from your local branch office.
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10.
Q: Can I have both an ATM and a VISA Debit card?
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A.
No. After you have activated your new GEICO FCU VISA
Debit
card, please be sure to cut up your old GEICO FCU ATM card.
Your old GEICO FCU ATM card will be deactivated two weeks after
you are mailed your GEICO FCU VISA Debit card. You do not need
both cards; your GEICO FCU VISA Debit card doubles as your
ATM card.
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11.
Q: Does my GEICO FCU VISA Debit card replace my GEICO
FCU Credit
Card?
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A.
No. Your new GEICO FCU VISA Debit card is NOT a credit card.
The purchase amounts are deducted directly from your
GEICO FCU
checking account the same as if you had written a check.
Such purchases will appear on your Credit Union monthly
statement of account and will display in your GEICO FCU Online
Banking inquiry for your checking account.
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12.
Q: How do I use the GEICO FCU VISA Debit card?
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A. When making a purchase, just present the GEICO FCU
VISA Debit card, select CREDIT and sign your receipt. Keep
a copy of the receipt to record your transaction in your
check register and for easy reconcilement of your bank
account.
When you need cash, use your GEICO FCU VISA Debit card FREE
along with your PIN at ALL GEICO FCU owned ATM machines
or enjoy six (6) FREE transactions per month at
foreign ATM machines.
Your
card can be used wherever VISA Debit is accepted and your
purchase will be deducted from your GEICO FCU checking account.
Some grocery stores and gas stations have electronic card
readers that require you to "swipe" your card.
Look for directions on or near the machine area. When
in doubt, ask for assistance. These card terminals also
require you to press either a CREDIT or DEBIT
button. If asked whether you want to use Credit or Debit,
always answer CREDIT, as it is the same as if you press
CREDIT. The money for the purchase is taken from your
GEICO FCU checking account and you have the added security
of not having to use your PIN in public.
If
you select DEBIT, the money for the purchase will still
be taken from your GEICO FCU checking or savings account, however,
you will have to use your PIN with the transaction. If
you have made more than six (6) PIN transactions at foreign
ATM/POS devices during the month, you will be charged
a $1.00 fee by GEICO FCU in addition to any fee the merchant
may pass along. There is no charge to you by GEICO FCU when
you choose CREDIT.
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13.
Q: What are the daily limits for the GEICO FCU VISA
Debit card?
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A.
You may withdraw up to $505 daily if you choose DEBIT
and use your PIN. If you choose CREDIT and sign for the
transaction, your daily limit is $1,000. Therefore, if
you choose debit and credit in one day, you could withdraw/purchase
up to a combined total of $1,505 ($505 for PIN transactions
and $1,000 for signature transactions) daily. Of course,
the funds have to be available for withdrawal. Funds that
are restricted are not available for withdrawal.
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14.
Q: What is the difference between CREDIT AND DEBIT transactions?
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A.
When you use your VISA Debit card for purchases, you have
a choice between pushing the CREDIT or DEBIT buttons.
Both functions will access your checking account, but
there are important differences.
If
you choose CREDIT, you will not have to enter your
PIN. You simply sign the receipt and go on your way. Although
you selected CREDIT, your purchase will still be deducted
from your checking account with no transaction fee. You
can make purchases from over 22 million locations worldwide
AND you can obtain cash advances from any financial institution
up to $1,000 per day.
If
you choose DEBIT, you will be required to enter
your PIN for authorization and you may be charged a processing
fee. You can withdraw cash from any ATM machine and make
POS purchases at select merchants.
You
can withdraw cash from your checking and/or savings accounts
up to the daily withdrawal limit. If you use your VISA
Debit card at GEICO FCU owned ATM machines, you get unlimited
free access to cash. If you use your card at foreign ATM
machines or at a POS device, you get 6 free ATM/POS transactions
per month. After the 6th free ATM/POS transactions, you
will be charged a $1.00 fee per ATM/POS transaction by
GEICO FCU. This fee is in addition to any fees charged by the
foreign ATM machine/POS owner.
If
you choose CREDIT, all transactions are free. So remember
to always choose CREDIT.
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15.
Q: Can I make deposits with my VISA Debit card?
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A.
Yes, but only at GEICO FCU owned ATM machines. The funds you
deposit via the ATM machine may be placed on hold and
may not be available for immediate use.
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16.
Q: Can I use my VISA Debit card to get a cash advance?
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A.
Yes, you can use your card to get a cash advance from
any financial institution or place where Visa cash advances
are processed, up to $1,000 per day, if you have the available
funds. You will have to choose CREDIT and sign the receipt
for the transaction.
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17.
Q: Can I use my VISA Debit card to make purchases online
(over the Internet) and/or telephone purchases?
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A.
Yes. You can make both online purchases over the Internet
and purchases over the telephone. When you make an online
purchase, you need to choose CREDIT. When you make a telephone
purchase, you need to tell the telephone representative
that you want to make a CREDIT purchase. The funds for
these purchases will come out of your checking account.
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18.
Q: Can I use my VISA Debit card to check my account balance
or to make transfers from my GEICO FCU checking account to
my GEICO FCU savings account and vice versa?
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A.
Yes, you can perform savings and/or checking account inquiries.
In addition, you can use your card to make transfers between
your checking and savings accounts at any ATM machine.
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19.
Q: How will I track my GEICO FCU VISA Debit card purchases?
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A.
Unlike using cash, your GEICO FCU VISA Debit card transaction
purchases will be itemized on your GEICO FCU monthly statement.
Signature based (CREDIT) transaction descriptions will
contain the amount, date, and name of the place where
you made your purchase. PIN based (DEBIT) transaction
descriptions will contain the amount, date and address
of the machine where you made your purchase. Both types
of transactions will be recorded on your statements. Having
all your transactions on one statement helps you keep
track of your spending. Remember, you can also use Online
Banking, or telephone Audio Response to review these transactions
24 hours a day, 7 days a week.
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20.
Q: What descriptions will the VISA Debit card transactions
have?
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A.
When you choose CREDIT to make a purchase and sign
for the transaction, the transaction description will
be DEBIT PURCHASE. When you obtain a cash advance,
you must choose CREDIT and sign for the transaction. The
cash advance transaction description will be ATM WITHDRAWAL.
If
you choose DEBIT to make a purchase with your PIN,
the transaction description will be ATM PURCHASE. If you
choose DEBIT to make a cash withdrawal with your
PIN, the transaction description will be ATM WITHDRAWAL.
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21.
Q: Your literature said that the funds would automatically
come out of my checking account. However, the funds did
not post to my account until 3 days after my transaction.
Why?
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A.
Funds for your purchases on your VISA Debit card are taken
directly from your checking account. When you choose DEBIT
and use your PIN, generally, the transaction posts immediately.
When you choose CREDIT and sign for the transaction, an
authorization hold is placed against the funds in your
account, usually for the amount of the purchase. The actual
transaction may take several business days to post to
your account. In the meantime, the funds on hold are not
available for withdrawal. When funds are on hold, you
will generally notice that your available balance is less
than your actual balance. When these transactions post,
the hold is released from your account.
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22.
Q: How long will the hold be on my funds?
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A.
The hold duration period varies by merchant. Most merchants
have a specified hold duration period. If a transaction
is processed without a hold duration period, the funds
may be on hold for up to 5 days. Generally, the transaction
settles in 1-2 days and the hold is released at that time.
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23.
Q: What happens if I made a purchase and I do
not have enough money in my checking account but I have
money in my savings account and/or overdraft line of credit?
Will the transaction be declined?
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A.
The authorization for the transaction will be approved
if you have available funds in your savings (S1) account
or your overdraft line of credit (L30). The funds needed
to complete this transaction will be automatically transferred
from these sources to your checking account to cover the
transaction. If your line of credit is delinquent, the
transfer will not be authorized.
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24.
Q: Will my checking account overdraft line of credit loan
(LOC) function the same with the VISA Debit card transaction
as when I write a check?
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A.
Yes, VISA Debit card transactions will automatically access
your designated checking overdraft LOC if you have available
funds and the LOC is not delinquent or blocked/revoked.
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25.
Q: How do I keep my checking account reconciled if I do
not use checks?
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A.
Since your GEICO FCU VISA Debit card takes the place of writing
a check, it is very important that all purchases and ATM
transactions be promptly recorded in your check register.
We recommend that you keep all your receipts until you
reconcile your checking account, because the receipts
have the actual amount that should be recorded and deducted
from your account.
All of your VISA Debit card transactions posted through
the statement closing date will be detailed on your monthly
checking account statement. Reconcile your account just
as you normally would, by deducting all outstanding checks
and ATM/debit transactions that have not been deducted
from the account balance.
To
track your card and account usage at any time, you can
use either our Online Banking system or 24-hour Voice
Response system.
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26.
Q: I made purchases while out of the country but the amounts
posted to my account do not match the receipt I received.
Why?
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A.
If you use your VISA Debit card to pay for a purchase
or obtain cash in a foreign currency, the amount of the
purchase will be converted into a U.S. dollar amount.
Because of fluctuations in foreign currency exchange rates,
the conversion rate in effect on the processing date may
differ from the rate in effect on the transaction date
or posting date.
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27.
Q: Why was my transaction rejected when I tried to use
my VISA Debit card?
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A.
There are a number of reasons why your transaction may
be rejected. Some common reasons are:
- Did
you activate your VISA Debit card with a PIN transaction
before you used it for the first time? To activate
your card, you must use your PIN the first time you
use your card at an ATM machine. If you do not, the
card will not work.
- Was
the amount of purchase over your daily limit of $1,000
for a signature based transaction or $505 for a PIN-based
transaction within a 24 hour period? This daily limit
resets at midnight.
- Do
you have sufficient available funds?
Funds may be restricted and not available due to uncollected
funds, previous authorizations or court orders. Check
your available account balance.
- Are
you delinquent on your loan or a loan that you are
a co-maker on? If you are responsible for a loan that
is delinquent, the card is inoperative until the delinquent
loan is brought current. Once the delinquent amount
is paid, the card will be automatically reactivated
the next business day.
- If
you are relying on the funds to be transferred from
your LOC, is your LOC delinquent? If your LOC is delinquent,
the funds are not available for transfer or to authorize
the transaction.
- Are
any of your accounts overdrawn? If so, you may not
have sufficient available funds to complete the transaction.
- If
this is a PIN based transaction, did you enter the
PIN correctly? If you enter the PIN incorrectly 3
times, for security reasons the card will be automatically
blocked for 24 hours.
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28.
Q: Will VISA Debit card transactions interfere with automatic
payments that presently come out of my checking account?
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A.
For us to provide the VISA Debit card to our members,
we must honor all transactions that were previously approved.
If a debit(s) was previously approved because there was
enough money in your account at the time, the credit union
is obligated to pay that debit. This may not leave enough
money in your account for the automatic payment.
It
is your responsibility to ensure that there is enough
money in your checking account to make your automatic
payments as well as pay any debit or ATM transactions
that have been authorized.
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29.
Q: Does my VISA Debit card expire?
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A.
Yes, it will expire three years after it is issued. When
your card expires, if you are a member in good standing,
your card will automatically be reissued.
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30.
Q: What happens if I have a dispute about a signature-based
transaction?
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A.
First, you must attempt to negotiate a resolution with
the merchant. If you are unable to resolve the dispute,
and the amount is over $50, call our dispute center at
1-877-715-2299 and a representative will assist you in
completing a disputed transaction claim. If the disputed
amount is under $50, please call 1-800-824-5404 x3567.
Please make sure that you have your VISA Debit card number
available. Never give your PIN to anyone. A credit union
employee will never ask you for your PIN.
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31.
Q: What happens if I have a dispute about a PIN-based
transaction?
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A.
You will need to complete an ATM dispute form and the
credit union will investigate your dispute. This form
can be obtained from your local branch office or by calling
1-800-824-5404 x3567. Please make sure that you have your
VISA Debit card number available. Never give your PIN
to anyone. A credit union employee will never ask you
for your PIN.
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32.
Q: How do I replace a Lost or Stolen VISA Debit card?
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A.
Immediately notify us that your card has been lost or
stolen by calling us at 1-800-754-4128. It is our policy
to restrict access to your account using the VISA Debit
card when you make us aware that the card is not in your
possession.
If
your VISA Debit card is lost and you want a replacement
card/PIN you must submit your written request to us at:
GEICO
Federal Credit Union
Card Services Department
One GEICO Plaza
Washington D.C 20076
If
you believe that someone has transferred or may transfer
money from your account without your permission, call
us immediately at 1-800-824-5404 x3567.
There
may be a charge for a replacement VISA Debit card/PIN.
If
you have additional questions, please contact your credit
union branch.
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