Peculiarities of using the combined cards with embedded microprocessors (chip cards)

Nordea Bank issues combined bank cards (with embedded microprocessors) of the international payment systems Visa International and MasterCard Worldwide.

Chip cards provide better security as some information is stored on a special microprocessor (chip). The chip functions as a microcomputer and increases level of protection against unauthorized access while using the card.

The advantages of chip cards include the following features:

1. higher level of security;
2. increased endurance (chip has better resistance to mechanical damage, magnetic fields and moisture than a magnetic stripe);
3. possibility to use the magnetic stripe when the terminal is not capable to accept the chip or if the chip is malfunctioning.

Chip bank cards do not have restrictions, thus the cardholders are able to make the full range of transactions such as:

• withdraw cash from ATMs and cash points,
• pay for goods,
• make payments at cash-in ATMs,
• pay for services over the Internet,
• make money transfers via the e-banking system «Nordea online» (when the bank card is not present).

Attention!

When paying for goods and services using the chip bank card the cardholder is prompted to confirm the transaction with PIN code instead of signing the receipt (the receipt will contain adequate note, i.e. «PIN code is entered»).

If the terminal does not support PIN entry, the cardholder confirms transaction by signing the terminal receipt.

Despite the fact that chip cards are becoming more common in Russia and abroad still not all merchants have terminals that are certified to accept chip cards for payment. Therefore, in some cases the magnetic stripe (which is also present on the back of the bank card) will be used to make the payment with the cardholder authorizing the transaction by signing the terminal receipt.

Important!

The use of the chip bank card does not revoke the cardholders’ responsibility to take necessary precautions in order to prevent the loss or unauthorized use of the bank card, likewise disclosure of its details and the PIN code.