FAQs - Visa Debit/ATM Card

What is the difference between an ATM and a debit card?

A debit card is widely accepted to make purchases and is more convenient to use. Both allow you to withdraw money from an ATM machine, but an LBS Financial Debit Card is also accepted at any merchant where you see the Visa symbol.

What is the limit on my LBS Financial Debit Card?

Subject to an available balance in your account, you may use your LBS Financial Debit Card to withdraw up to $400.00 within any 24-hour period from an ATM. Purchases made through a POS system (at a merchant) are limited to a maximum of $1,500.00 within any 24-hour period. Premier Members have increased limits.

How can I stop a debit/credit card transaction?

Once authorization has been received, a stop cannot be made. However an affidavit may be filled out if there are fraudulent charges. Contact us for more information.

Can my Visa Debit Card or ATM Card limit be raised temporarily?

Please contact us for more information.

What ATMs can I use for free?

Click here to find an LBS Financial, CO-OP® ATM or F&M Bank ATM location.

How do I reset my ATM or debit card PIN?

To reset your Debit Card PIN, please call 866.762.0558 from your primary home phone on your account. For ATM Cards, bring your ATM Card with photo ID to any of our branches to re-PIN.

Why do I have to pay a fee and a surcharge when I use some ATMs?

LBS Financial participates in several ATM networks so our Members have access to their funds world-wide. As participants, we agree to the rules and terms that apply to all network participants. The different Networks collect fees from the ATM card issuers and pay them to the ATM owners when someone who is not their customer uses their ATM. The fees are given to the ATM owners to help offset the expenses, such as repair and maintenance, that they incur by allowing card holders who are not their own customers to use their ATMs. The fee LBS Financial charges help us offset these network fees.

Although the network does assess fees, LBS Financial waives the fee for all CO-OP® ATM and Farmers & Merchants Bank ATMs so our Members have free ATM access nationwide. ATM owners and even merchants with POS terminals may also assess a surcharge. That fee is collected by the ATM or POS owner and is in addition to those collected and distributed by the various ATM Networks. Federal regulations require that a notification of the surcharge be given prior to finalizing any transaction on the ATM or POS terminal.

Visit any LBS Financial, CO-OP® ATM, or F&M Bank ATM to avoid paying a foreign ATM fee or any surcharge fees.

Why does the Credit Union have limits on how much I can spend using my ATM or Debit Card?

The Credit Union does not routinely place holds on ATM deposits and allows Members to immediately draw out funds from ATM deposits. Because the deposits are not verified, we limit the amount that can be taken on a daily basis. We also limit the amount due to the high volume of fraud that occurs with ATM and Debit Cards. Because we do not hold our Members responsible for fraudulent charges, limits on the amount of money that can be used each day help us minimize our losses when unauthorized activity occurs. Understand that these are daily limits, so each day the maximum amounts can be withdrawn.

Why does my LBS Financial Debit Card now have a chip?

Visa chip cards are already being used to make payments more secure around the world. In fact, they have virtually eliminated counterfeit fraud in countries like the UK and Australia when used in stores at chip-activated terminals. This proven technology is now coming to the U.S. so consumers can continue to shop with confidence while being better protected from fraud. A chip card is a regular plastic credit or debit card with an embedded microchip that provides an extra layer of protection when used in stores with a chip-activated reader.

I have an LBS Financial debit card and have not yet received my chip card. When will I receive it?

When your debit card expires it will be replaced with the new chip card. If you would like to receive a chip card before your current card expires, please contact the Credit Union.

What are the benefits of using a chip card?

Chip cards let you pay with confidence. Every time a chip card is used at a chip-activated terminal, a unique one-time use code is generated for the transaction to be approved. This feature is virtually impossible to replicate in a counterfeit card.

How do you use a chip card?

Chip cards are designed to be simple—everywhere. When using a chip card at a chip-activated terminal just insert the card with the chip side up, follow the prompts, and remove the card when the purchase is complete.
Step 1:Insert the chip end of the card into the terminal (instead of swiping).
Step 2:Keep the card in the terminal and follow the prompts to complete the purchase.
Step 3:Cardholders should remember to take their card with them when they leave.

Where can chip cards be used?

Our LBS Financial chip debit cards work everywhere Visa is accepted including:
Chip-activated terminals
Chip cards offer the greatest security when inserted into a chip-activated terminal.
Terminals that are not chip-activated
You may continue to use your card by swiping, because chip cards still have a magnetic stripe on the back.
You may also continue to make online purchases by entering the card number or selecting the card during the checkout process if the card is already on file with that merchant.
Chip cards are still accepted at the ATMs you have been using.

How do I verify my identity when using a chip card?

There are three different ways cardholders can verify their identity when using a Visa chip card.
Sign to verify
This is more convenient at certain merchants, like a restaurant where you aren’t likely to follow their waiter to a terminal to enter a PIN.
No verification
Some merchants don’t require verification for purchases under $50. Fast food restaurants or convenience stores often require no verification.
Enter a PIN
This method is used at ATMs.

Can I use my chip card overseas?

Although new in the U.S., chip technology has been used around the world for a number of years. In fact, Visa chip cards are accepted in over 130 countries. As a result, our Members can enjoy greater security and make purchases with confidence everywhere they travel. Keep in mind that you may need a PIN for verification when traveling internationally. If a store in another country doesn’t have a chip-activated terminal, the card is simply swiped using the magnetic stripe on the back.

Am I still covered under Visa's Zero Liability Policy?

No matter how you pay, Visa has you covered with zero liability. Visa’s Zero Liability Policy is our guarantee that Visa cardholders won’t be held responsible for unauthorized charges made with their account or account information. When our Members use Visa chip cards, they are still covered under this policy so they can continue to shop with confidence.
How it works:
  • Visa chip cardholders can shop worry-free at millions of locations
  • The cardholder reviews their monthly statement and immediately reports any unauthorized charges to their financial institution
  • Once reported, Visa’s Zero Liability Policy requires their financial institution to investigate and resolve things quickly. If the unauthorized transaction involves their debit card or account, Visa’s Zero Liability Policy generally requires issuers to replace any funds taken from their account as a result of an unauthorized debit transaction within five business days of notification


Accepts Deposits: Yes

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