The new Mashreq Debit Card is a Chip & PIN card that provides an added level of security using a Personal Identification Number (PIN). The embedded computer chip stores information in a secure, encrypted format, making it more difficult for unauthorised users to copy or access the information on the card.
The chip in the card requires you to enter your Personal Identification Number (PIN) when you make a credit card transaction at stores with chip technology, and no signature is required. So, if your chip Card is lost or stolen, it can't be used by unauthorised users (who don't know your PIN) at stores with chip-enabled terminals.
Transactions on your Mashreq Chip & PIN Debit Card will be completed faster because in most cases you'll no longer need to sign a transaction slip at stores with chip-enabled terminals. The chip in the card requires you to enter your PIN when you make a transaction at stores with chip technology. So, if your card is lost or stolen, it can't be used by unauthorised users (who don't know your PIN) at stores with chip-enabled terminals.
No, you will receive a new PIN number by mail from the bank. Please use the new PIN number. If you want to change the PIN #, please visit any Mashreq Branch near you and the agent will guide you to change the PIN number. You will need to use only one PIN for all transactions related to your Mashreq Debit Card. The PIN that you will be prompted to enter at merchant outlets in case of a POS transaction is the same as the one you use for ATM withdrawals. Your PIN is the key to using your new card. It will become extremely important to remember your PIN, as more and more merchants begin to replace their magnetic stripe point-of-sale terminals with terminals enabled to process chip & PIN cards.