Banking

State Farm® Visa® Cards with Chip Technology

State Farm Bank® is converting its Visa credit and debit cards to feature an embedded chip that improves security when used at a point of sale (POS) or ATM that is chip enabled. Chip technology will soon become the security standard in the U.S. because it has proven successful in reducing counterfeit fraud in over 130 countries around the world. Chip technology is the next step in providing you enhanced security.

State Farm Bank® deposit accounts are FDIC insured.

What is a chip card?
A chip card is a standard sized credit or debit card that contains an embedded microchip as well as the traditional magnetic stripe.

How does it work?
When you use your card at a chip-enabled terminal, the embedded chip generates a unique transaction code. The microchip will generate a single-use code that will validate the transaction.

Where can I use my chip card?
Since your card has both a magnetic stripe and an embedded chip, you can use your card anywhere Visa cards are accepted.

Chip-enabled terminals are common in most foreign countries, but the United States has just started this transition. You will be seeing more and more merchants convert to the chip-enabled terminals.

How do I use my chip card?
The checkout process on a chip-enabled terminal is slightly different than usual. Your card can now be used four convenient ways:
  • At most merchants, who are not yet chip-enabled – Nothing changes. You can still swipe your card to pay just like you have in the past.
  • At a retailer or merchant that has a chip-enabled terminal-
    1. Insert your card face-up into the terminal and follow the prompts on the screen.
    2. Leave the card inserted into the terminal during the entire transaction. Removing the card before completed will interrupt the transaction.
    3. For most purchases, you will be prompted for a signature to complete the purchase.
    4. Remove the card when prompted and take your receipt.
  • For phone or online transactions – Nothing changes. Simply provide the same information you do today to complete your transaction.
  • At an ATM – Nothing changes. With a PIN, you can use your card to access your account at any ATM. At chip-enabled ATMs, simply leave your card in the machine until your transaction is complete.

Frequently Asked Questions

Why does my State Farm Visa credit/debit card now include a chip?

Chip technology will soon become the security standard in the U.S. because chip technology has proven successful in reducing counterfeit fraud in over 130 countries around the globe, including Canada and Mexico, as well as most of Europe, South America and Asia.

State Farm Bank, F.S.B., Bloomington, Illinois ("Bank"), is a Member FDIC and Equal Housing Lender. NMLS ID 139716. The other products offered by affiliate companies of State Farm Bank are not FDIC insured, not a State Farm Bank obligation or guaranteed by State Farm Bank, and subject to investment risk, including possible loss of principal invested. The Bank encourages any interested individual(s) to submit an application for any product(s) offered by the Bank. We also encourage you to obtain information regarding the Bank's underwriting standards for each type of credit or service offered by visiting statefarm.com or by contacting the Bank at 877-SF4-VISA (877-734-8472). Callers who are hearing or speech impaired should dial 711 or use a preferred Telecommunications Relay Service. To apply for a Bank product, you may also see your participating State Farm agent.

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