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Have a question about a SELCO product or service? Start here, you may be able to find the answer in our Frequently Asked Questions.

  • Internet Privacy

    • If I complete an application on the SELCO Community Credit Union website, what do you do with this information?

      We use application information to complete requests and/or transactions. We may share personal information with our business partners in order to deliver products and services which you have requested (for example, obtaining a credit report if you applied for a loan).

      SELCO Community Credit Union will not sell personal information to a third party for the purpose of solicitation. Information may, from time to time, be made available on a limited basis to SELCO Community Credit Union business partners, to provide special offers or promotions of products or services that may be of interest to particular members in accordance with applicable law. Our business partners are carefully selected and share the same strict business principles as SELCO Community Credit Union.

    • If I send you an e-mail, what do you do with it?

      When you communicate to us through e-mail, we use your e-mail address only for the purpose of responding to your comments, questions and concerns.

      SELCO does support an optional Listserver, "SELCO Electronic Mailing List," which provides Members and potential Members with financial news and information about promotions, products and services. We only send information about current promotions and products and services to members who subscribe to this mailing list. You will never receive unsolicited email from SELCO Community Credit Union unless you personally authorize it by subscribing to our mailing list. You always have the ability to unsubscribe at any time. To unsubscribe, please read the instructions in the confirmation email you received when signing up, or contact us by email, phone, fax, or mail. Your email address provided in order to join the list will not be sold, nor will it be shared with others outside the credit union, unless we are compelled to do so by law.

    • Do you use analytics software? If so, what do you do with the information?

      Yes, SELCO Community Credit Union uses analytics software. We collect information about the name of the domain from which you access the Internet (example:,, or and the site from which you came from. We use this information for internal analysis only, which helps us improve the content of our web site for your future visits. Our web servers also collect information about browser and operating system types and which pages each user visits. We review traffic, hardware, and software statistics in order to make our site more accessible to all members and to tailor information to individual visitors and for traffic audits.

    • What do you do with information from online surveys?

      The information you provide on surveys and promotions will be used for internal marketing purposes only, including developing new content that meets your specific needs or content that needs updating due to accessibility or functionality problems.

      The encryption is accomplished by establishing a Secure Socket Layer (SSL) connection between the browser and the Web server. You can only access Online Banking with an SSL-compliant browser. All application forms and all areas of Online Banking are secure pages, which means that at no time can your information be accessed by anyone other than a SELCO Community Credit Union representative.

    • There are certain areas on your Web site that use a Co-Branded Label area that is not owned and operated by SELCO Community Credit Union. What happens to information provided to those entities?

      SELCO Community Credit Union has, wherever possible, structured its Partnerships with entities that share the same privacy values as we do. Some of the Partnerships developed have these terms expressed in our Agreement with the other party. If you believe that your privacy has been violated on a Partner site, please contact us immediately.

  • Browser Cookie

    • What are browser cookies?

      Cookies are bits of information that a Web site sends to a user's PC; the user's computer may then show the information back to the server on subsequent pages, actions or visits.

    • What types of browser cookies are there?

      There are two types of cookies: persistant and session. Persistent cookies expire on a specific future date. Session cookies expire once the session has ended. The use of cookies within online banking is necessary for security and is therefore required to access the system. Our use of cookies is for user authentication only. As there are a number of cookies within our secured site, you may want to turn off your cookie alert during your online banking session. You can always enable it later.

    • How do I disable the "Accept Cookies" warning?

      To disable the "Accept Cookies" warning in Firefox
      1. Click on Tools, then Options.
      2. Click on the Privacys tab.
      3. Click on the Accepting a Cookie checkbox.

      To disable the "Accept Cookies" warning in Chrome
      1. Click on the customize and control icon, then Options.
      2. Click on the Under the Hood tab and then Content Settings... button.
      3. Click on the cookies tab and then Allow local data to be set radio button..

      To disable the "Accept Cookies" warning in Internet Explorer
      1. Click on View, then Options.
      2. Click on the Advanced tab.
      3. Click on Warn before Accepting Cookies checkbox.

  • Courtesy Pay Program

    • Which Courtesy Pay privileges come with my SELCO Checking account and which one do I need to opt into in order to receive?

      SELCO automatically provides Courtesy Pay to qualifying members for check, Automatic Clearing House (ACH), debits from your account using your account numbers and our routing number, and recurring bill payments made using your SELCO VISA Checkcard number.  You must give us your consent to use Courtesy Pay to authorize one-time debits such as ATM, Point-of-Sale (POS) and debit transactions.

    • Why would I want Courtesy Pay for my Checking account?

      Courtesy Pay can save you money and hassle because it covers transactions that would otherwise be rejected.  If you have Courtesy Pay and a check, Automatic Clearing House (ACH) or recurring bill payment overdraws your account, SELCO pays it on your behalf for a $25.00 fee.  By having SELCO pay the transaction as opposed to returning it, you will not be charged Non-Sufficient Funds (NSF) fees or be contacted for the collection of a returned check, ACH or recurring bill payment. You also will not be added into the NSF tracking systems.

      If you elect Courtesy Pay you can avoid the embarrassment of having your one-time transactions denied at an ATM or merchant.  Your transactions will be authorized up to your available Courtesy Pay amount.  SELCO will charge a $25.00 fee to pay the transaction if it overdraws your account.

    • How much is available using Courtesy Pay?

      The Courtesy Pay limit is $300.  Your limit is increased to $500 if you have direct deposit with SELCO.

    • Can I have Courtesy Pay on more than one SELCO Checking Account?

      You will automatically have Courtesy Pay on any personal SELCO Checking account for checks, Automatic Clearing House (ACH) and recurring payments using your SELCO Visa Checkcard. You have the ability to decide whether or not to opt-in for extended Courtesy Pay, which covers one-time debits such as ATM, Point-of-Sale (POS) and purchases you sign for using your SELCO Visa Checkcard.

    • Can I change my mind if I no longer want extended Courtesy Pay?

      Absolutely!  Just let us know by calling us at (800) 445-4483 or stopping by one of our convenient branch locations. You can also opt-in at any time even if you previously declined.

    • Are there any restrictions?

      Courtesy Pay is a discretionary service and we reserve the right not to pay your overdraft. For example, we typically do not pay overdrafts if your account is not in good standing, if you are not making regular deposits, or if you have too many overdrafts. Your Courtesy Pay balance must be paid in full as soon as possible. Each Courtesy Pay transaction will be assessed a fee as shown in the SELCO Rate and Fee Schedule.

    • Does SELCO offer overdraft protection other than Courtesy Pay?

      We also offer additional overdraft protection options, such as a link to a savings account, line of credit or your SELCO Visa Card which may be less expensive than Courtesy Pay. To learn more, ask us about these plans.

    • How do I opt-in to SELCO's Courtesy Pay service?

      To opt-in to our Courtesy Pay service: stop by any SELCO branch or call (800) 445-4483. You can also email us through our secure internal email system once you’ve logged in to your Online Banking account. You may use the Opt-In form (see link below) and drop it off at one of our Branch locations or mail it to SELCO Community Credit Union, Opt-In, P.O. Box 7487, Springfield, OR 97475-0487.
      Click here to view the Courtesy Pay opt-in form.

  • Routing & Account Numbers

    • What is my Routing Number?

      SELCO's Routing Number is 323274445.

    • What is my Account Number?

      The Deposit Account Number is the 14-digit number on checks.

  • Online Banking

    • What is Online Banking? 

      Online Banking is a convenient and secure way to access your account 24 hours a day, 7 days a week, through the Internet. With Online Banking you can:

      • View your account balances
      • View your account history
      • View your eStatements
      • Transfer funds
      • Pay bills
      • View check images
      • View your pending transactions
      • Set up Account Alerts to get notified when certain transactions occur. 
    • How much does Online Banking cost? 

      Online Banking and Bill Pay are both FREE. 

    • What do I need in order to begin using Online Banking? 

      To access your account through Online Banking, you will need the following:

      • Any type of computer that can access the Internet
      • A Web browser (Minimum Browsers Supported: IE 8, Firefox 8, Chrome 16, Safari 5)
      • An active account with SELCO Community Credit Union
      • A valid and accessible email address on file with us. 
    • Do I need to enroll? 

      Yes, enrolling in Online Banking is necessary if you are a new user.  Simply click the "Enroll Now" link at the Online Banking login screen and follow the prompts that walk you through the process. 

    • How secure is Online Banking?

      Very secure. SELCO uses state-of-the-art network security to ensure the protection of your account information. Refer to our Security FAQ pageon the Help menu within Online Banking for detailed information.

    • What do I do if I forget my password?

      You can reset your password by clicking on the "Forgot Password?" link on the Online Banking login page. Or, you can call the Service Center at 800-445-4483 during business hours so that we may reset your password.

    • What if my account information is not correct or doesn't appear in Online Banking?

      Please send us a Secure Message or call the Service Center at 800-445-4483 during business hours.

    • Are there limits on the number of transfers I can make?

      Federal Regulation D limits electronic transfers made via Online Banking from certain savings accounts to six per calendar month. Because of this, you cannot make more than six monthly electronic transfers from each Money Market or 50 Plus type account.  See the Transfers FAQ for more information regarding transfers.

    • If I make a transfer between my SELCO share, loans or accounts, how soon are my funds transferred?

      Online Banking operates in real time, so transactions are reflected on your account immediately.

    • Are there any limits on how many times a day I can log on to Online Banking?

      There are no limits on how often you can use Online Banking.

    • If I provide my email address through Online Banking, what will you use my email address for?

      We'd like to have your current email address on record as a way of notifying you regarding important account information. From time to time, with your permission, we may also send you notifications regarding special offers or other information. We respect our Members' privacy, and will never sell or give your email address to anyone.

    • Can the joint owner on my account use Online Banking?

      Yes, joint owners can access the account in the same way that you do. Please note that there is only one password allowed per SELCO account, so if you wish for your joint account holders to have Online Banking access, you must give them your password and with the answers to your security questions. SELCO will only be able to assist with joint owner access to Online Banking if the joint owner is an owner of all shares and loans associated with that specific account number.

    • Why can't I log on successfully?

      You may be locked out. As a security feature, if you unsuccessfully attempt to log on to Online Banking 3 times, access will be denied for your account. This is to prevent someone from trying to guess your password. If you are having difficulty logging on, please call the Service Center at 800-445-4483 during business hours or click on the "Forgot Password?" link on website to unlock your account.

    • Which accounts can I access with Online Banking? 

      You can access all of your SELCO accounts. 

    • Does Online Banking support downloading account history into Quicken or QuickBooks? 

      Yes, Online Banking supports the current version of Quicken and QuickBooks plus the two previous versions for downloading your account history. 

    • Does Online Banking support transfers, sending emails or sending bill payments via Quicken or QuickBooks? 

      Online Banking supports the download of statement data via WebConnect which does not allow for sending of messages, performing transfers or sending bill payments.  

    • Where can I find additional information or get assistance with Quicken or QuickBooks? 

      You can visit Intuit's web site at Quicken Help and Support

  • Bill Pay

    • What is Online Banking Bill Pay?

      Online Banking Bill Pay allows you to pay bills or make other payments from your SELCO accounts. Payments can be scheduled 24 hours a day, 7 days a week, from anywhere in the world.

    • What does Bill Pay cost?

      Bill Pay is free.

    • How do I access Bill Pay?

      Log in to Online Banking from SELCO's home page at Once you've logged in, click on the Bill Pay menu. 

    • What do I need to use Bill Pay?

      You can make Bill Pay payments using a SELCO checking account. You will also need internet access and a browser that meets our minimum requirements. Acceptable browsers include Internet Explorer 8, Firefox 8, and Chrome 15 or higher.

    • How do I enroll?

      If you used Bill Pay in the old Online Banking system, you are already enrolled. If you have never used Bill Pay before, it's easy! Simply log in to Online Banking and click on the "Bill Pay" menu. On your first visit you will be asked to enroll. An enrollment screen will be displayed with a link to the Bill Pay Terms and Conditions. Once you agree to the Terms and Conditions, you can begin adding payees and making payments immediately.

  • Wire Transfers

    • How do I send a wire?

      To send a US Domestic Wire from your SELCO Account you will need the following:

      Sender's Information

      • Sender's name
      • Sender's telephone number – include a number where the sender can be reached to verify instructions, as processing may be delayed if we're unable to verify the request.
      • SELCO member number
      • SELCO account number to debit
      • Outgoing wire transfer amount in U.S. dollars

      Beneficiary's or Receiver's Information

      • Routing Number of receiving bank
        • If you are unsure of the routing number, contact the receiving bank to get the appropriate incoming wiring instructions.
      • Name of bank receiving the wire transfer
      • Address of bank receiving the wire transfer
      • For each wire transfer beneficiary provide the:
        • Bank or loan account number to deposit funds
        • Name of the beneficiary on the account
        • Address for the beneficiary on the account
      • Comments or special instructions to transmit with the outgoing wire, if applicable
        • These include: "to the attention of" instructions, or invoice, purchase order or reference numbers. The beneficiary should tell you if any of these fields are needed.

      To send an International Wire from your SELCO Account please gather the following information:

      Sender's Information

      • Sender's name
      • Sender's telephone number – include a number where the sender can be reached to verify instructions, as processing may be delayed if we're unable to verify the request.
      • SELCO member number
      • SELCO account number to debit
      • Outgoing wire transfer amount in the foreign currency desired, such as Euro or Yen. Please note that SELCO will complete a currency conversion to the local currency of the beneficiary prior to sending the wire, unless the beneficiary account is specifically a U.S. dollar account.

      Beneficiary's or Receiver's Information

      • Sort Code, International Bank Account Number (IBAN), SWIFT Code, or CLABE. The beneficiary should be able to provide one of these identification numbers to you.
      • International bank name and address
      • Bank or loan account number to deposit funds
      • Name, address, and citizenship of all beneficiaries or recipients of the wire transfer
      • Purpose of payment – this is required for wires going to foreign countries. If this information is not provided, the financial institutions may withhold wired funds due to lack of information, take a research fee from the wire before crediting the account, or possibly return the funds. Providing all information about the beneficiary and the purpose of the wire will help avoid wire delays.
      • Comments or special instructions to transmit with the outgoing wire, if applicable
        • These include: "to the attention of" instructions, or invoice, purchase order or reference numbers. The beneficiary should tell you if any of these fields are needed.
    • How do I receive a wire?

      In order to receive a wire transfer into your SELCO account, you’ll need the following information:

      • SELCO’s ABA/Routing number: 323274445
      • SELCO’s information in the “Wire To” address, also referred to as the “Beneficiary Financial Institution” line. You’ll want to use:
        SELCO Community Credit Union
               1050 High Street
               Eugene, OR 97401
               Phone: 800-445-4483
      • In the “Beneficiary” field, include:
        • Your account number
        • The name of the account holder
        • The address listed for the account
      • Any other relevant information can be included in the “Reference” field.

      Please note that SELCO does not offer a SWIFT Code or IBAN for international wires.

    • General Information about Wires

      • Many institutions may be involved in the transfer of foreign currency.
      • Outgoing wire transfer requests received Monday – Friday, before 2:00pm PST, will generally be processed the same day. International U.S. dollar wires requested after 2:00pm PST will be processed the next business day. Foreign exchange wires require more time to process due to exchange rates.
      • Allow up to 15 calendar days for foreign wire transfers to post.
      • If the full wire transfer amount has not been received on or after 15 calendar days, you can submit a notice of error.

      Need help completing your request? Contact us today

  • Fraud Monitoring & Travel Tips

    • Fraud Monitoring Tips

      Protecting our members is a top priority. That’s why SELCO consistently monitors card transactions for suspicious activity.  If we identify suspicious activity, we may stop service to your card or decline a transaction until we can contact you to verify the validity of the charge. When we have been notified of an identified fraud incident, we also may temporarily deny specific types of transactions or regions for short periods of time.   

      In order to limit the disruption to your card, we ask that you let us know if you anticipate a transaction that is outside your normal pattern of use. This often occurs when traveling, on vacation, or making large purchases. When we’re aware of your plans, we can get the necessary contact information in the event Visa®’s Fraud Prevention Services need to verify card activity.

      Should Visa Fraud Prevention Services contact you, responding quickly will allow us to resolve the issue in a timely manner. Visa Fraud Prevention Services will verify your identity, but they will never ask you to provide information such as your SELCO Account Number, full card number, PIN, or complete personal data such as a full SSN.

      Please contact us at 800-445-4483 or Secure Message if you have questions regarding a transaction, or if you need to report a lost or stolen card.  

    • Travel Tips

      Whether you are traveling for business or pleasure, consider using a blend of two to three payment options to help ease the probability of fraudulent charges.


      It’s always wise to have a set amount of cash on hand when you travel.  When traveling outside of the U.S., getting currency from an ATM when you arrive will most likely garner the best currency conversion rate.

      SELCO Visa® Checkcard

      • There are a variety of ATMs in the U.S. and abroad.  SELCO participates in several surcharge-free networks, allowing you to pull out cash without having to pay a pesky fee..  Plan ahead and visit our ATM locator service to find a convenient ATM in the area where you will be traveling.
      • Using a Checkcard is a safer alternative than carrying large amounts of cash or several gift cards. Secure access to your funds is one of the many benefits of your SELCO Visa Checkcard.
      • Currency conversion rates are more favorable when made with your SELCO Visa Platinum Card or Checkcard.   This is true – even with the 1% currency exchange fee.  
      • Before using your Checkcard as a payment for a hotel or car rental reservation, we recommend you ask whether a hold or freeze will be placed on your card.  Some hotels and car rental companies hold or freeze funds for up to 10 days, which could result in a lack of access to your checking account funds.
      • Visa’s Zero Liability Policy applies to transactions made with your Checkcard.   SELCO monitors transactions for suspicious or fraudulent activity, and will ensure you are not adversely affected by fraudulent transactions.

      SELCO Visa Gift Card

      Pre-paid Visa Gift Cards can be purchased at any SELCO branch location for $2.50.  Pre-paid Visa gift cards can be purchased and loaded for any denomination between $10.00 and $1,000.00.

      • Visa gift cards can be used anywhere Visa debit cards are accepted in the U.S.
      • Visa gift cards can serve as a “back-up” in case your ATM, debit card, or credit card were lost or didn’t work for some reason.  
      • Please note that Visa gift cards cannot be used outside of the U.S. or at an ATM.
      • Register your Visa gift card before traveling in the U.S. Registering your card allows member services to locate your card and send you a replacement card in the event that your card is lost or stolen. 
      • Manage your card online at or call 866-496-6183.

      SELCO Visa Credit Card

      Credit cards are a convenient payment option that may be used during trips.

      • One of the primary benefits of using a credit card on trips: If there is fraudulent use against your card, it will not affect your checking account.  
      • Currency conversion rates are more favorable when made with your SELCO Visa Platinum Card or Checkcard. This is true – even with the 1% currency exchange fee.  
      • Your transactions are covered by Visa’s Zero Liability Policy.  SELCO monitors transactions for suspicious or fraudulent activity, and will ensure you are not adversely affected by fraudulent transactions.
      • SELCO Visa Platinum card offers travel emergency assistance, travel accidental death insurance, and warranty manager service.   
  • Apple Pay

    • What is Apple Pay?

      Apple Pay went live October 20, 2014, on the latest iPhones and represents Apple’s introduction into the mobile wallet and mobile payments landscape. In its simplest form, Apple Pay allows iPhone 6 users to pay for goods and services at a Point of Sale (POS) terminal with just their phone. That being said, there’s a lot of details being worked-out behind the scenes, with several new and existing technologies coming together to make these Apple Pay payments possible. As your trusted financial partner, SELCO is actively engaged with all forms of payment technologies, including Apple Pay, and are working diligently to enable many of these technologies for our Members. Following is a list of Frequently Asked Questions that will help you better understand Apple Pay and SELCO’s plans to enable Apple Pay.

    • When can I use ApplePay on my iPhone?

      The answer to this question, unfortunately, depends on several factors.  To start with, you will need one of the newest iPhones – either the iPhone 6 or iPhone 6 Plus – with the most current version of the iOS Operating System installed. You will also need to have and load into Apple Pay a credit or debit card from an authorized, participating financial institution. Lastly, you’ll need to find a merchant that accepts Apple Pay payments. All of these things exist today and if every one of them lines up for you, you can use Apple Pay on your new iPhone right away.

    • Where can I find a list of the authorized, participating financial institutions?

      When Apple Pay was announced, there was a handful of launch partners, including some of the largest financial institutions in the country. These included some of the nation’s largest banks, credit card companies, and the largest Credit Union in the country. These large financial institutions, it was estimated, made up 83% of the credit card volume in the United States. The list of participating financial institutions has been growing slowly since the launch of Apple Pay. Click here to find an updated list of participants. While credit unions currently make up a small percentage of participating financial institutions, we expect that to change dramatically over time.

    • When will SELCO’s credit and debit cards work with Apple Pay?

      We are currently performing our due diligence with Apple Pay, reviewing the necessary legal agreements and incorporating the costs of participation into our financial models. This due diligence is almost complete and we hope to have signed agreements with Apple and Visa in the first quarter of 2015. Once the agreements have been executed, SELCO will fall into the normal implementation schedule for Apple Pay. At this point, we don’t know how long that will take but many financial institutions are reporting a 3- to 6-month timeframe.

    • When will most merchants accept Apple Pay?

      The short answer: not for a very long time. Many industry experts believe that merchant adoption will be the biggest problem for Apple as it strives to gain widespread consumer adoption for Apple Pay.  Already, several large merchants – including Walmart, BestBuy, Target, CVS, and Rite Aid – have either refused to support Apple Pay or shut it off after launch. In addition, Apple Pay relies on a technology called Near Field Communication (NFC) and requires POS upgrades that can accept NFC payments.  While these upgrades seem to be occurring at a fairly quick pace with the large merchants, it’s going to take a long time for these NFC terminals to permeate to all – or most – of the places we use our plastic payment cards today.

    • What is Visa’s role in Apple Pay?

      Apple Pay was brought to market as a quick, simple, and secure way to pay for everyday purchases.  Just how quick or simple it is, compared to using plastic payment cards, remains to be seen.  However, most industry experts agree that Apple Pay is certainly a more secure way to pay. To start with, when you enter your card data into Apple Pay, your card number is translated into a 16-digit “token” in a process referred to as Tokenization. In the Tokenization process, Visa acts as a Token Service Provider and manages the Tokenization process for you and your financial institution. Apple Pay and Visa work together to make these secure digital payments. Additionally, your iPhone only stores and transmits this 16-digit “token” on the phone and to the merchants POS terminal – leaving your real card number out of the transaction process. Beyond Tokenization, Apple Pay relies on biometric authentication (i.e. your finger print) to initiate a payment, so only you and those you’ve authorized can initiate a payment on your iPhone.

    • Can you tell me more about Tokenization and how it works?

      Please refer to the Tokenization section of this FAQ.

    • Will I be able to use Apple Pay at restaurants?

      That will depend on the restaurant. Many fast food restaurants have customer-facing POS terminals that will likely accept Apple Pay payments, either now or in the future. McDonalds was an early merchant partner for Apple Pay. One problem for these fast food restaurants will be the drive-up window; it’s unlikely Apple Pay will be supported at the drive-up or that consumers will want to hand their phone over to the drive-up attendant in order to complete their payment. A similar problem will exist in sit-down restaurants or, for that matter, the myriad of small merchants that don’t keep customer-facing POS terminals.

    • What will Apple Pay cost me, the consumer?

      Apple Pay is completely free for consumers. All of the costs for the Apple Pay implementation and on-going transaction fees are carried by financial institutions like SELCO. In fact, our agreement with Apple expressly prohibits us from charging our members to use Apple Pay.

    • It’s great to hear that SELCO will support Apple Pay.  Are there other initiatives SELCO is working on to enhance security with their credit and debit cards?

      Yes – we’ve already discussed Tokenization and you can refer to the Tokenization FAQ for additional details. In addition, SELCO is working diligently to support the Europay Mastercard Visa standard commonly referred to as EMV or “chip and pin.” Please refer to the EMV FAQ for additional details around this enhancement to SELCO’s plastic card portfolio. And, in 2015 we plan to roll-out an exciting new mobile application that will allow our members to control many aspects of their credit and debit spending right from their smartphone. For instance, once you’ve downloaded the app and registered your cards, you’ll be able to log in to the app on your smartphone and do things like turn your cards on and off, set spending limits, allow the cards to work at some types of merchants but not others, restrict online use of your card, among many other exciting features.

  • Tokenization

    • What is Tokenization?

      Tokenization is a method for protecting payment card data by substituting a card's Primary Account Number (PAN) with a unique, randomly generated sequence of numbers. This “token” is usually the same length and format as the original PAN, so it appears no different than a standard payment card number to merchant POS terminals, back-end transaction processing systems, other applications, and data storage systems. The random sequence that is the token acts as a substitute value for the actual PAN while the data is stored inside a retailer's systems. The token can be reversed to its true associated PAN value at any time with the right decryption keys. Tokenization eliminates the need for merchants, e-commerce sites, and operators of mobile wallets to store sensitive payment card data on their networks.

    • There’s been a slew of merchant data breaches in the news lately where thieves have stolen payment card data among other sensitive consumer information.  Can’t these “tokens” be stolen from merchants just as easily?

      With tokenization, credit and debit card data is encrypted at the point where it is captured (e.g. POS) and sent to the merchant's payment processor where the data is decrypted and the transaction is authorized. The processor then issues a token representing the entire transaction back to the retailer while the actual card number itself is securely stored in a virtual vault. The retailer can use the token, just as they would normally have used the real card number, to keep track of the transaction and handle refunds, returns, exchanges and other transactions. The token itself would be of little value to data thieves because there would be no way to link the token back to the PAN without the decryption key.

    • What will I need to do differently to use Tokenization when I pay for things?

      Customers would do nothing different when paying for purchases using a credit or debit card. The card data is encrypted when the card is swiped through the payment terminal, sent to the processor where it is decrypted for transaction approval processes, and a token issued to the merchant all without the customer experiencing anything different.

    • Is Tokenization for payment card data new?  Why are we hearing so much about it now?

      Tokenization is not new.  A growing number of retailers already use tokenization as a way to increase compliance with Payment Card Industry security standards. What is new is that Apple recently announced a new digital wallet called Apple Pay that works on their newest set of iPhones, and Apple Pay relies on Tokenization to work.  With a large and successful company like Apple endorsing Tokenization with Apple Pay, you should start to hear increasingly more about both.

  • EuroPay MasterCard Visa (EMV)

    • What is EuroPay MasterCard Visa (EMV)?

      Debit and credit cards based on the EMV technology use an embedded microchip, instead of a magnetic stripe, to store data and are considered almost impossible to clone for fraudulent purposes. Because of the presence of the embedded microchip, EMV technology is also commonly referred to as, “Chip and PIN.”  Though the rest of the world moved to EMV technology years ago, the U.S. has lagged behind for a variety of reasons. As of 2014, there were more than 2 billion Europay, MasterCard, Visa, and Discover EMV-compliant chip-based payment cards in use worldwide. Visa, MasterCard, American Express, and Discover have placed a timeline for U.S. adoption, in the form of liability shifts, which has quickened the pace at which merchants and card issuers have adopted EMV capabilities.

    • How does EMV work?

      Chip cards are essentially miniature computers with an operating system, multiple interfaces, and applications that process information through the use of an embedded microprocessor and a gold- or silver-colored contact plate mounted on the front of the card. EMV cardholders insert a card into the reader, spurring dialogue between the card and terminal that validates the card and the terminal and issuer through the exchange of secure cryptograms, enabling a more secure transaction.

    • Are my SELCO credit and debit cards using EMV technology today?

      Not yet. We plan to convert our card portfolio to the EMV standard in stages, with all cards expected to be converted to chip cards on the EMV standard by mid-2016.

    • How will I know if my card is an EMV card or not?

      EMV chip cards are distinct from traditional magnetic-strip-only plastic payment cards in that the gold or silver “chip” embedded in the card is clearly visible.

    • How will my payment experience be different with an EMV chip card as opposed to my magnetic-strip card?

      Consumers will no longer “swipe” their EMV cards at Point of Sale terminals. Instead, an EMV chip card is inserted, or “dipped,” into a payment terminal and left inside the terminal for the duration of the transaction. Beyond that, consumers will simply follow the on-screen instructions at the payment terminal just as they do today.

    • I’ve heard about the “liability shift” coming in October 2015.  Does this mean I will now be responsible for fraudulent activity with my payment cards?

      No. The liability shift is meant to occur between the major card brands (e.g. Visa, MasterCard, American Express, and Discover), merchants, and card issuers (e.g. SELCO and other financial institutions.)  Consumers continue, now and in the future, to enjoy limited liability for payment card fraud activity.