Which type of transaction should I do when using my debit card at the point of sale – PIN (debit) or signature (credit)? Does it matter?
Think of your debit card as a check card, because the money still comes out of your checking account whether you do a credit or a debit transaction with it at the point of sale (POS). The transaction is just processed through a different network. When you swipe or insert your debit card at the checkout, the terminal will often prompt you to enter a four-digit PIN. We encourage you to bypass this option and use your signature instead.
PIN you pay, sign you save. Purchases for which you sign are free, plus you earn rewards points from the credit union! When you enter your PIN, we assess a 25-cent fee, and no rewards points are earned. There is still no fee for using your debit card at nearly 30,000 ATMs in the CO-OP Network around the country, where you must enter your PIN. There are also no fees when using your Arsenal debit card online
When using my debit card as a “credit” transaction, how is that possible? It’s a debit card, not a credit card?
We understand how this can be confusing. It has to do with how the processing networks are set up.
PIN-based debit transactions are routed through what are known as electronic funds transfer (EFT) networks. The EFT network authorizes the transaction and immediately deducts the transaction amount from your checking account. Within a few days, the merchant receives the money.
Signature-based debit transactions are authorized, cleared and settled through the Visa or MasterCard network, the same one used for processing credit card transactions. The merchant submits the transaction with the rest of their card transactions, usually at the end of the day, and then receives the money, typically within a day or two of the settlement. Signature debit transactions are referred to as “offline” transactions, because a PIN debit network does not play a role in processing.
How do I make a signature-based transaction at the point of sale (POS)?
In most cases you press the green (Enter) button on the terminal after swiping or inserting your Arsenal debit card. If you're not sure which button to press, ask the cashier which color to press for “credit.” You then simply use your signature to complete the transaction.
For small-amount purchases, you may not even have to sign anything. The funds are then deducted from your checking account, typically within a day of the processing date.
Who do I contact about my rewards points?
If you have any questions about your points balance or using your rewards card, please contact CURewards member services at 800.637.7728. You can also contact our member services department at 314.962.6363 or 618.239.6363, option 6, then option 2.
What if my debit card is lost or stolen?
If you have a debit card with us already, but it has been lost or stolen, call us at 314.962.6363
or 618.239.6363 during normal business hours
outside of business hours.
Your Visa debit card allows you to conduct transactions on the CO-OP, PULSE, STAR and PLUS networks. Some merchants are authorized to accept non-Visa debit transactions without requiring you to enter your PIN. If you choose to sign to authorize a debit transaction, the transaction will be routed as a Visa transaction. Provisions of your cardholder agreement that specifically relate to Visa transactions are inapplicable to non-Visa transactions. For instance, a non-Visa debit transaction will not provide Visa's Zero Liability Protection benefit.