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VISA Debit Card Frequently Asked Questions

The GEICO FCU Visa® Debit Card is the easy and convenient way to pay for all of your daily purchases. It's a free service from GEICO FCU for all qualified members with a GEICO FCU Checking Account. Use it to pay for groceries, gas, dinner, movie tickets, clothes and much more! The VISA Debit Card is used just like a credit card, but it automatically deducts the purchase price from your checking account.
 
Definitions
  • GEICO FCU refers to GEICO Federal Credit Union.
  • VISA Debit Card refers to your VISA Check Card.
  • Checking account refers to your GEICO FCU share draft (checking) account (S30).
  • Savings account refers to your GEICO FCU primary shares (savings) account (S1).
  • PIN or PIN number refers to your ATM/POS personal identification number.
  • ATM transaction refers to any transaction performed at an ATM machine.
  • Foreign ATM machine refers to all non-GEICO FCU owned ATM machines.
  • POS refers to PIN based point of sales transactions at a device other than an ATM machine.
  • POS device refers to any device, other than an ATM machine, where a PIN based transaction can be performed.

GEICO Federal Credit Union
Frequently Asked Questions (FAQs) About VISA® Debit Card
 

1. What is a GEICO FCU VISA Debit card?

2. Why would I want to use the GEICO FCU VISA Debit card?

3. Is there a charge for the VISA Debit card?

4. How do I know if I am eligible for a GEICO FCU VISA Debit card?

5. Who is a member in good standing?

6. How do I apply for a GEICO FCU VISA Debit card?

7. How long will it take to receive my VISA Debit card and PIN?

8. How do I activate my GEICO FCU VISA Debit card?

9. If I forget my PIN, will the credit union staff be able to give it to me?

10. Can I have both an ATM and a VISA Debit card?

11. Does my GEICO FCU VISA Debit card replace my GEICO FCU Credit Card?

12. How do I use the GEICO FCU VISA Debit card?

13. What are the daily limits for the GEICO FCU VISA Debit card?

14. What is the difference between CREDIT AND DEBIT transactions?

15. Can I make deposits with my VISA Debit card?

16. Can I use my VISA Debit card to get a cash advance?

17. Can I use my VISA Debit card to make purchases online (over the Internet) and/or telephone purchases?

18. 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?

19. How will I track my GEICO FCU VISA Debit card purchases?

20. What descriptions will the VISA Debit card transactions have?

21. 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?

22. How long will the hold be on my funds?

23. 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?

24. 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?

25. How do I keep my checking account reconciled if I do not use checks?

26. I made purchases while out of the country but the amounts posted to my account do not match the receipt I received. Why?

27. Why was my transaction rejected when I tried to use my VISA Debit card?

28. Will VISA Debit card transactions interfere with automatic payments that presently come out of my checking account?

29. Does my VISA Debit card expire?

30. What happens if I have a dispute about a signature-based transaction?

31. What happens if I have a dispute about a PIN-based transaction?

32. How do I replace a Lost or Stolen VISA Debit card?

 
1. Q: What is a GEICO FCU VISA Debit card?
 

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.


2. Q: Why would I want to use the GEICO FCU VISA Debit card?
 
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.


3. Q: Is there a charge for the VISA Debit card?
 
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.

4. Q: How do I know if I am eligible for a GEICO FCU VISA Debit card?
 

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.


5. Q: Who is a member in good standing?
 
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.

6. Q: How do I apply for a GEICO FCU VISA Debit card?
 
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.

7. Q: How long will it take to receive my VISA Debit card and PIN?
 

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.


8. Q: How do I activate my GEICO FCU VISA Debit card?
 
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.

9. Q: If I forget my PIN, will the credit union staff be able to give it to me?
 

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.


10. Q: Can I have both an ATM and a VISA Debit card?
 
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.

11. Q: Does my GEICO FCU VISA Debit card replace my GEICO FCU Credit Card?
 

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.


12. Q: How do I use the GEICO FCU VISA Debit card?
 

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.


13. Q: What are the daily limits for the GEICO FCU VISA Debit card?
 

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.


14. Q: What is the difference between CREDIT AND DEBIT transactions?
 

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.


15. Q: Can I make deposits with my VISA Debit card?
 

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.


16. Q: Can I use my VISA Debit card to get a cash advance?
 

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.


17. Q: Can I use my VISA Debit card to make purchases online (over the Internet) and/or telephone purchases?
 
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.

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?
 
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.

19. Q: How will I track my GEICO FCU VISA Debit card purchases?
 
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.

20. Q: What descriptions will the VISA Debit card transactions have?
 
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.


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?
 
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.

22. Q: How long will the hold be on my funds?
 
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.

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?
 
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.

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?
 
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.

25. Q: How do I keep my checking account reconciled if I do not use checks?
 
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.


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?
 
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.

27. Q: Why was my transaction rejected when I tried to use my VISA Debit card?
 
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.

28. Q: Will VISA Debit card transactions interfere with automatic payments that presently come out of my checking account?
 
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.


29. Q: Does my VISA Debit card expire?
 
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.

30. Q: What happens if I have a dispute about a signature-based transaction?
 
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.

31. Q: What happens if I have a dispute about a PIN-based transaction?
 
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.

32. Q: How do I replace a Lost or Stolen VISA Debit card?
 
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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