Debit Card Program FAQ - The Bank & Trust



Debit Card Program FAQ Q1:What is happening with The Bank & Trust’s debit program? We have joined with Discover Financial Services to enhance our debit card program. We are removing MasterCard debit cards from our portfolio and replacing them with Bank & Trust Debit powered by Discover?. Q2:Why did Bank & Trust decide to make this change to the debit card program?We did it to benefit our customers, our employees, and our business. Today’s financial industry is highly competitive, and we wanted an opportunity to provide our cardholders with a better debit card offering. Through this new affiliation, we will combine Discover? Debit, Discover’s signature debit program, with the better banking experience we deliver to create the Bank & Trust Debit Card. Q3:What did you take into consideration when looking for a debit partner?We looked first for a partner with a strong brand, broad merchant acceptance and valuable benefits for our cardholders. Q4:When can I expect to get my new card?Business cardholders can expect their cards mid-to-late February. Consumer cardholders will begin receiving new cards from late April through July. Q5:How do I activate my new Bank & Trust Discover Debit Card?Take your card and PIN to any ATM and perform a balance inquiry; this action will activate your card. *If using a non-Bank & Trust ATM, the ATM owner may charge a balance inquiry fee.Q6:Will I receive a new PIN?Yes, a new PIN (Personal Identification Number) will arrive in a separate envelope from your new card.Q7:What can I do with my old MasterCard debit card?You may bring your MasterCard Debit Card to any Bank & Trust location for deactivation/shredding once your new card has been activated. This is a very important step to help us partner together to prevent fraudulent activity on a debit card that you are no longer using. It will be important to keep your MasterCard in a secure location until deactivation/shredding as it will be active until August 29, 2014.Q8:I have regular electronic payments tied to my Bank & Trust MasterCard; what do I do about those payments.Contact those companies that automatically deduct payments from your MasterCard Debit Card and provide your new Bank & Trust Discover Debit Card information. Your current MasterCard debit card will remain active until August 29, 2014 which will allow sufficient time to move electronic payments to your new card. *Don’t forget about annual payments such as a magazine or radio subscription.Q9:Will I receive a new PIN?Yes, a new PIN (Personal Identification Number) will arrive in a separate envelope from your new card.Q10:Can I change my PIN?You may customize your PIN by bringing your card and identification to any location of The Bank & Trust during normal business hours, Monday – Saturday.Q11:If I have more than one card, will I receive all cards at the same time?Not necessarily; cards will be ordered based on their expiration dates so it is likely that your cards will be delivered at separate times.Q12:Is Discover Debit accepted at a significant number of merchants?Discover Debit has achieved leading growth in merchant acceptance in each of the past three years. Discover Debit offers merchant acceptance at 9 million locations. It partners with merchant acquirers that process 99 percent of all bankcard transaction volume in the United States. Q13:How is Discover Debit different than MasterCard signature debit program?Discover Debit offers a comprehensive debit program offers a complete suite of benefits to cardholders. These include zero-liability protection, lowest purchase price guarantee, identity theft defense, travel assurance services, and card and document registration services. In addition, only Discover Debit offers business cardholders access to legal information and human resources consultant services. All of these services will be offered at no fee to our cardholders.Q14:Are there plans to encourage more local merchants to accept Discover Debit?Discover has achieved three consecutive years of top growth in merchant acceptance across the networks, which is an excellent record of growth driven by partnerships with merchant acquirers. Discover will continue its successful strategy, and as part of our partnership it will focus specifically on expanding acceptance by any non-covered merchants frequented by Bank & Trust cardholders. Before signing on with Discover Debit, we analyzed our merchant transaction report to determine where our cardholders use their cards. By and large, our cardholders shop at merchants already in the Discover network. In order to ensure 100% (or full) acceptance, we developed a target list of merchants and the Discover sales team is using this list to expand their network to close any gaps in coverage before we launch the card.Q15:Will there be a version of the Bank & Trust Debit Card for business account holders?Yes. Current business cardholders will receive their new Bank & Trust Business Debit Card in mid-to-late February 2014. We know that our small business cardholders in particular will appreciate new benefits that include access to legal information as well as human resources consultant services. These are in addition to the consumer cardholder benefits of zero-liability protection, lowest purchase price guarantee, identity theft defense, travel assurance services, and card and document registration services.Q16:Will cardholders who are traveling internationally be able to use their new cards?Yes, Discover provides the third-largest global card acceptance network, operating in more than 185 countries and territories. Our debit card will be accepted at more than 850,000 ATMs and at more than 21 million merchant locations worldwide.Q17:How will I access the aforementioned benefits?A toll-free number will be included on card disclosures/benefit guide which cardholders should call to access benefits. A benefit guide will be mailed with each new Bank & Trust Discover Debit Card.Q18:Will the card design change?Yes, the card design will be different. We will have one design for consumer debit cards and another for business debit cards. Q19: How do I provide feedback about the new Bank & Trust Debit Card Program? To provide thoughts and ideas, you can email discoverdebit@ ................
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