Signature Based Purchases

THE ADVANTAGES OF "SIGNATURE-BASED PURCHASES"

When you make a purchase with your Visa® Debit Card, the merchant usually asks you "debit or credit?" When you say "credit," you will typically be given a receipt to sign. Or you may be using your Debit Card at a pay-at-the-pump gas station where you can select "credit" as the payment option. In both cases, your purchase will be processed as a signature-based transaction. Remember that your New Mexico Educators Visa Debit Card can be used anywhere Visa Debit cards are accepted (millions of merchants around the world).

PLEASE NOTE: When you say "credit" and the amount of your purchase is less than $50, you may not be required to sign the receipt.

There are five good reasons for making signature-based purchases with your Visa Debit Card:

1. You help prevent your PIN number (typically used for ATM cash withdrawals) from being stolen by an unauthorized user.
2. Your purchase will be identified by the name of the merchant as well as the city and state on your transaction records (online and mailed statements).
3. You will be protected by Visa's Zero Liability Policy if your card is used fraudulently.
4. You benefit financially from the Community Rewards Program and a community of your choice benefits from matching financial support from New Mexico Educators.
5. When a purchase is processed as "credit," the amount is actually being deducted from the available funds in your Credit Union checking account.

KEEP YOUR RECEIPTS FOR STATEMENT RECONCILIATION

When you use your Visa Debit Card to make purchases at Visa merchants, you should always receive a receipt. In addition, these purchases will be identified on your monthly checking statement with the designation: MERCHANT SALES DRAFT. Comparing amounts and dates on your receipts with your monthly checking statement or online account information can help identify unfamiliar transactions posted to your account.

Some Visa purchases may post to your account under a different name, city or state due to the vendor's headquarters location. Remember that receipts are your only record for tracking and verifying purchases.

If you wish, you can review Debit Card postings to your account on a daily basis by using Anywhere Access Internet Banking® at our website, www.nmefcu.org.

Also keep all your receipts for deposits and withdrawals at ATMs made with your Debit Card. Compare those receipts against your monthly statement or online account information.

RESERVE YOUR PIN FOR ATM TRANSACTIONS

You will need your Personal Identification Number (PIN) to make any transactions at an automated teller machine (ATM). We issue your PIN to help prevent fraudulent use of your Debit Card. You should not share it with anyone, write the PIN on your card, or carry your PIN with you at the same time you carry your Debit Card.

Ways to Protect Your Visa Debit Card and Your Checking Account From Fraud

To help protect your account from fraud on the Internet, we recommend that you register for "Verified by Visa" service at: www.visa.com/verified. This free service lets you choose an online password that only you will know. Then you'll enter that password every time you make a purchase at a participating merchant's website. If your Visa Debit Card is lost or stolen, this service helps prevent unauthorized Internet purchases before they can happen.

New Mexico Educators also participates in a program that continually monitors transactions on your Visa Debit Card. If the volume or nature of transactions posting to your checking account seem unusual, you may receive a phone call from our processing center to assure that you haven't lost your card and that you are the person making the transactions. Our processor may ask you to verify your name and the last four digits of your Social Security number to confirm that they are speaking to you personally. (They will never ask for your full Social Security number.) This service protects your card from fraud in case you haven't yet discovered that your card has been lost or stolen.

New Mexico Educators will NEVER ask you in a phone call, email or letter for account numbers, credit card numbers, CCV numbers, PIN numbers, or other private financial information. 

If you do notice that your Visa Debit Card has been lost or stolen, please immediately call 800-543-5073 to protect the Visa functions of your card. Then call 800-754-4128 to protect the ATM functions of the card. Be sure to call both numbers right away.