How To Protect Your Account
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Abacus Bank will NEVER request through email, text, or unsolicited phone call your bank card number, account number, Social Security number, Personal Identification number (PIN) or password.
- Mobile Banking FAQs
- Loans FAQs
- Apple Pay™FAQs
- Chip Debit Cards FAQs
Mobile Banking App - our mobile app via iPhone®, Ipad®, or Android™ devices give you fast and easy access to your account information and main banking features like bill pay, funds transfer and mobile check deposit.
Mobile Website - You can access to your Abacus Banking account anytime and anywhere. Simply go to abacusbank.com on your mobile browser to access your Abacus Bank account.
Text/SMS Banking - You can receive your balance and latest account information by text message. It is also good for you if you do not have a smart phone. It is simple and fast.
For security purposes, you MUST be enrolled in Abacus Bank Online Banking to access account information and perform banking transactions. To use Mobile Banking App and Mobile Website, you simply need to enter your Online Banking credentials. No separate enrollment required. If you use Text Banking services, log in to your Online Banking account and activate your mobile phone number. If you’re not already an Online Banking user, you can enroll online now.
There are no fees to use or access Abacus Mobile App, mobile website, or text banking. Please check with your wireless provider about carrier and web access charges.
Abacus Bank’s Mobile Banking offers the same security and encryption as our Online Banking service. This helps ensure that your Mobile Banking experience with us will be safe and secure.
Abacus Text Banking is also secure because you can activate the service only after logging into our internet banking site. Text messages will never contain confidential information about you or your accounts. Messages will never contain full account numbers.
Abacus Bank's Mobile Banking allows you to access all accounts that you currently view within Online Banking.
Immediately report the loss or theft of your mobile device to your mobile carrier so that they can deactivate your phone.
For our Mobile Apps and the Mobile Web, we require a User ID and password and no information is stored on your mobile device, your information is safe. You are also automatically logged out after a short period of inactivity – 5 minutes on the Mobile App and 5 minutes on the Mobile Website.
If you use Text Banking services, you can go to the Mobile Banking & Alerts page within internet banking and select the Deactivate link that's next to your mobile phone number. That will terminate the service for the mobile device. You can always return later and Activate a new phone.
Mobile Check Deposit is a feature of our mobile banking app and is available to our mobile banking clients. It allows you to take a picture of a check and deposit it to an Abacus Bank’s personal checking, savings and Money Market account, all using your mobile devices.
♥ has an internet enabled iPhone®, iPad, and Android™ or Amazon Kindle device with a camera.
♥ is enrolled in our Online Banking Service and have downloaded our latest version of Mobile Banking app
♥ must be a customer of Abacus Bank greater than 60 days with an active checking, savings, or money market account.
♥ the minimum balance in accounts meets the product minimum balance.
♥ have no more than two returned deposited items in the past two months. Deposit limits and other conditions may apply.
♥ For iOS app: Compatibility: Requires iOS 6.0 or later. Compatible with iPhone, iPad, and iPod touch. This app is optimized for iPhone 5.
♥ For your Android app: Requires Android 2.3.3 and up
♥ Users must have also accepted the latest application update from their respective app store for Mobile Check Deposit to be available. Some older mobile devices may not work with Mobile Check Deposit.
No, you cannot upload photos of your checks taken outside of the Abacus Bank mobile app. You must take the photos of your checks while the app is in use.
Sign on to your Abacus Mobile app then follow these simple steps:
1.Contact bank at 800-969-8423 to get access to Mobile Check Deposit service.
♥ If approval is still pending, you will see message “Please contact us for eligibility for this service.”
2.If your access is approved, for first time attempt to access check deposit feature on Mobile App, EUA (End User Agreement) will appears. You must accept EUA in order to use Mobile Check Deposit service.
3.Once your Mobile Check Deposit is approved, you may start using it by following steps:
a) Select an Account.
b) Enter an amount for the check using the number keypad of your mobile device.
c) Start taking check picture by click on camera icon.
d) After you took the picture, you have following options:
♥ Retake the picture: will take a picture of the front of check again.
♥ Keep Picture: will take you to the next screen.
e) Review the front image of the check. If all edges show and the amount is visible. Check image is nice and clear, click “Keep Picture”.
f) Capture the back image, make sure you have correct endorsement – For Mobile Deposit, your account# and your signature.
g) Review the front and back image of a check and click on “Deposit”.
4.Complete successful deposit. You will receive a confirmation message on your mobile device for each successful deposit. Plus, we’ll send a deposit confirmation to your primary email address.
5.Review your account the next day to see the fund has been posted to your account correctly. After you confirmed the deposit is correctly posted to your account, write VOID on the front of the original checks, keep it for 14 days and then securely destroy it.
Note: Do not VOID the check after submittal in the event the deposit is not approved and needs to be re-submitted.
We recommend you follow these guidelines:
♥ Endorse the check with your (the accountholder's) Account Number, signature and mark it "For Mobile Deposit Only".
♥ Be sure to include all four corners of your check and all edges show and the amount is visible; images that are "blurry" cannot be accepted.
♥ The dollar amount you enter when making the deposit must match the amount on the check
Note: Some checks can be rejected due to poor photo quality, unusual formats, or layout or background features on the check. In these cases, Abacus Bank reserves the right to reject such Mobile Deposits and cannot be held responsible for its inability to accept a deposit via mobile banking.
♥ Folded or torn check corners.
♥ Unclear images of the front of the check.
♥ Amount entered does not match the check.
♥ Unclear bank routing and check account numbers.
♥ The images of the check are too dark.
Yes. Mobile Deposits are limited to $5,000 per day, with a rolling 7-day limit of $10,000 and a rolling 30-day limit of $25,000. Limits are established and changed from time to time depending on customer profile and various risk factors, and Abacus Bank may raise or lower these limits without prior notice to you.
You may deposit domestic checks to a personal checking, savings or Money Market account.
♥ We are unable to accept International Checks, US Postal Money Orders, Traveler’s Checks, Foreign Items, Savings Bonds, or Third Party Checks through Mobile Check Deposit.
Abacus Bank charges no fees to use the Mobile App. However, you should contact your wireless service provider to see if there are any access or usage fees that may apply. Fees noted in your Abacus Bank Online Banking and Account Agreements still apply.
The first $200 of total deposits made by 3:00 p.m. ET on any business day will be available on the next business day after the day you made your deposit. The rest of the deposited funds will be available by the second business day after the day you made your deposit. However, we may delay your access based on other factors we determine at our sole discretion.
♥ For example, if you deposit a check of $700 on a Monday before the cut-off time, the first $200 of the deposit is available on Tuesday. The remaining $500 is available on Wednesday.
Deposits are shown in the Abacus Bank mobile app as you make them and will appear in your deposit history. To confirm that your mobile deposit transactions have been posted to your account, you may review the account detail of the account into which you made your deposit using your monthly statement or by signing on to Online Banking or with the Abacus Bank mobile app.
Abacus Bank’s Mobile Deposit offers the same security and encryption as our Online Banking service. We use advanced encryption technology and security policies to safeguard the information being communicated between your device and the bank:
♥ Online Banking credentials are not stored on your mobile device.
♥ Check images are not stored on your mobile device.
♥ 128-bit SSL encryption masks your sensitive information.
♥ Your access ID and password must be entered before accessing the Mobile Deposit feature.
♥ Bal: Primary account balance
♥ Bal all: All account balances
♥ Last: Last 5 transactions on primary account
♥ Bal chk: Account balance of checking account
♥ Bal sav: Account balance of savings account
♥ help: Help on keywords
♥ Stop: Deactivate Text Msg Banking service
No, commands can be sent in lowercase (bal) or all capital letters (BAL).
Yes, text banking will work with or without a smartphone or tablet, as long as you have text messaging enabled with your mobile carrier and use a carrier that the service supports.
Please check with your mobile carrier to verify if your phone has texting or SMS capabilities. And also ask for details about text/SMS messaging charges.
If you have a new mobile number, visit Personal Online Banking to update your contact information by following simple steps:
1. Go to Additional Services
2. Click on SMSAlerts
3. Click on “Deactivate” on your old phone number.
4. Click “Activate” when Text Message Banking screen appears.
5. Enter your new phone number.
6. Click on “I have read and accepted the full terms and conditions”
7. Click “Next”.
8. You will be required to enter a code to active. Code will be sent to your new phone.
9. Setup your preferences.
10. Click “Finish”
The deposit is accepted subject to verification. Deposits may not be available for immediate withdrawals. Other restrictions may apply. Please see Mobile Remote Deposit Service Agreement for details. Mobile Check Deposit is currently available on iPhone®, iPad®, and Android™ phones and tablets. The mobile Check deposit is currently not available for Amazon Kindle.
Android and Google Play are trademarks of Google, Inc. Apple®, the Apple logo, iPhone®, and iPad® are trademarks of Apple, Inc., registered in the U.S. and other countries. App Store℠ is a service mark of Apple, Inc.
Loan FAQs
To serve you better, Abacus Federal Savings Bank has now added telephone banking (Toll Free 1-888-818-6613). With this service, you’ll be able to access your loan accounts 24 hours a day at your own home or anywhere. You will be able to check your account balance and find out your recent payment transactions in your account. All of these can be accomplished at your convenience using English or Chinese.
To access your account:
Dial 1-888-818-6613
Enter loan account number
Enter PIN number
Enter zip code of your premises
Then select from the Menu:
1 Inquire Balance
2 Interest Information
3 Payment Information
Should you need assistance to reset your PIN number, please call us at 212-732-8025 (ext.2100 or 2106) during business hours.
Address and Phone Your mortgage is serviced by the Bank's Loan Servicing Department. All inquires regarding your loan should be directed to that department. The address, fax number, and telephone number are as follows:
Abacus Federal Savings Bank
Loan Servicing Department
104-116 Nassau St.10th Floor
New York, NY 10038
Fax No. (212) 571-6380
Tel. No. (212) 732-8025
Monthly Payment Mailing Address:
Abacus Federal Savings Bank
P.O. Box 1768
Newark, NJ 07101-9998
Subject Matters | 1-888-818-6613 Extension No. |
Loan Balance and Status | 2100, 2010 |
Automatic Loan Payment | 2106, 2100, 2012 |
Late Payment Penalty | 2100, 2101, 2106 |
Extra Principal Payment | 2100, 2101, 2103 |
Payment Coupon Book | 2103, 2102 |
Delinquent Payment | 2105, 2102 |
Foreclosure | 2105, 2102 |
Pay-Off | 2101, 2103 |
Real Estate Taxes | 2109, 2112, 2106 |
Water and Sewer Charges | 2109, 2112, 2106 |
Property Insurance | 2104, 2113 |
Mortgage Insurance | 2100, 2101, 2103 |
Misc. Questions | 2100, 2102, 2103, 2105, 2106, 2107, 2109,2111, 2112, 2113 |
Loan payments can be made by mail or through the Bank’s branches in the form of cash, check, money order, or cashier’s check (see item C, below). More efficiently, loan payments can be made conveniently by using the Bank’s Automatic Debit Program (see item B, below).
A. Importance of Timely Payment
Making your loan payment on time is probably the best way to build a strong credit record. The Bank is under obligation to report the payment history of its borrowers to credit bureaus. Each time a payment is received late, it is automatically reported. A few late payments will quickly cause your credit rating to drop. Late payments will also generate penalty and interest charges.
If you maintain a good credit record, you will be able to easily obtain refinancing in the future, or new financing to purchase a new home or for business at a favorable rate. Making your loan payment on time is, therefore, very important to you.
Based upon your mortgage agreement, your monthly installment payment is to be paid on the first day of each month unless your loan is a bi-weekly loan. You are given a grace period of 10 or 15 days depending upon your loan agreement. It is a good idea to plan your mortgage payment ahead. To allow a late payment to occur is simply too costly.
B. Automatic Debit Program
To assist its borrowers to pay mortgage installments on time, the Bank has established an Automatic Debit Program. With your authorization, the Bank will auto- matically charge your depository account at Abacus or another bank on the dates chosen by you: 1st day, 7th day or the last day of the grace period for your loan of each month (unless it is a bi-weekly mortgage). Under this Program, you are relieved of the burden of remembering the mortgage payment due date and ensuring that the payment is received by our Bank. However, you must maintain sufficient funds in your depository account. This is truly the simplest way to make sure that your mortgage payment is made on time.
If your depository account is with another bank, it must be a type of checking account. If the account has insufficient funds to meet the mortgage payment on the due date, you will be charged a fee by the depository bank. You will also be charged a fee by Abacus against your loan account. To avoid repeated charges by your depository bank, Abacus will not attempt to debit your depository account again for the same month’s mortgage payment. You must then mail in the payment for that month before the grace period expires to avoid the late payment penalty, etc.
If your designated depository account is with Abacus, it may be a checking or savings account. If the account has insufficient funds, the Loan Servicing Department will continue to debit your account to obtain payment until the grace period expires. The Bank will charge your depository account only once for the month you had insufficient funds.
If you would like to join the Automatic Debit Program or open a depository account, the Bank will be happy to assist you. A form to authorize the debit to your depository account is attached in the following links.
ACH on ABACUS with letter head
ACH nonabacus-with letter head
As stated earlier, your depository account at Abacus may be a savings account which has no maintenance fee. Your deposits will earn interest until the day the necessary amount is withdrawn for the mortgage payment. Cumulatively, you can save a lot of interest during the term of the mortgage. This is another good reason for utilizing the Automatic Debit Program and opening a savings account at Abacus.
C. Coupon Payment Booklet
For your convenience and accuracy of crediting your account, the Bank will send you a coupon booklet if you choose to mail in your monthly mortgage payment. The coupon booklet should arrive within 3 weeks after your loan closing.
The regular coupon booklet contains 12 coupons, one for each month of the year which is clearly marked. The payment amount and your Loan Number is also shown. The first coupon booklet will only con- tain the number of coupons necessary until you receive the regular coupon booklet. The issuance month of the regular booklet is based on the month when the real estate tax is re-assessed. For properties in New York City, it is in August. For properties outside of New York City, it is usually in November, although the month may vary.
With the coupon booklet, you will also find mailing address labels. The correct address to mail your pay- ment is printed on the address labels and the coupons. Sending the payment to another address of the Bank or without the coupon will delay the processing of your payment. Additionally, you must never mail in cash. The Bank is not responsible for loss. If you wish to pay by cash, you need to take the coupon to a Bank’s branch for credit and receipt.
If you have selected the Automatic Debit Program at your loan closing, you will still receive the first coupon booklet which may be discarded. If you choose to mail in your payment and have not received your booklet 3 weeks after the loan closing or after the last coupon in the booklet has been used, please call the Bank.
When you receive your new coupon booklet, it is a good idea to record the current coupon payment address and your payment amount in a separate place. If you should lose or misplace the booklet, you may still send in your payment, but clearly indicate your name and Loan Number on the payment.
If you do not receive the coupon book on or before the due date of your 1st installment payment or any payment, you must either mail your payment to the Loan Servicing Department or make the payment at any branch before the grace period expires to avoid a late payment charge.
If there is a need to make a payment not as shown on the payment coupon, i.e. additional principal, payment of late charges and late payments, escrow deficiency, etc. please send your payment directly to the Loan Servicing Department at the address shown below:
Abacus Federal Savings Bank
Loan Servicing Department
104 - 116 Nassau Street 10th Floor
New York, NY 10038
Please also indicate clearly the purpose of the payment.
Based upon your mortgage agreement, every month the Bank collects from you approximately one-twelfth of the annual real estate tax assessed against your property. This amount is included in the monthly mortgage payment. It is held in an escrow account. When the tax becomes due, the Bank takes the necessary amount from the escrow account and pays the city/ town on your behalf. Any surplus or deficit in the account is either returned or charged to you. At the end of the tax period, the tax escrow is recalculated based upon the new assessment for real estate tax for the coming year. For New York City properties, tax re-assessment occurs in August. For properties in other places, tax reassessment occurs in November. You will be notified by the Bank regarding the new escrow amount and the total monthly mortgage payment.
Because the Bank is paying the real estate tax in your behalf, all bills and notices regarding real estate tax on your property should be sent to the Loan Servicing Department by the city/town. Occasionally mistakes do occur. If you receive the real estate tax bill or, particularly, a delinquent notice for non-payment of real estate tax, you must notify the Loan Servicing Department immediately to avoid accumulation of interest.
Water and sewer fees charged against a property owner are based upon usage. In New York City, the service is provided by the government. The usage fee is collected as a tax. In other cities/towns, the service may be provided by private companies and the charges are collected differently. The Bank usually does not escrow for water and sewer charges. You, as the owner of the property, must pay the bill directly to the city/town or the private company.
In New York City, some older buildings still do not have water meters. The City assesses these buildings a flat annual fee which is called a frontage tax. If you are owner of one of these buildings, the Bank will escrow one-twelfth of the annual water and sewer frontage charge each month with the mortgage payment and remit to the City on your behalf when the payment is due. If you later install a water meter, please notify the Bank to reduce your escrow payment.
Property insurance protects you and the Bank from destruction of your property resulting from fire, lightening, storm, flood, etc. Your mortgage agreement requires you to purchase adequate property insurance and to keep it current throughout the term of the mort- gage. As soon as you close the loan, please give your Loan Number to your insurance agent and ask the agent to send a copy of the insurance policy to the Bank. If the Bank does not receive a copy of the policy or, later, the renewal, the Bank will be forced to purchase the insurance and charge you for it. This may result in duplicate or higher cost to you.
The minimum amount of property insurance that you must have for your property is the unpaid principal balance amount of your mortgage or the insurable value of the improvements if it is lower. The amount must also meet the co-insurance requirements of the insurance policy. The Bank may require that you carry a higher amount for your own protection. The proper amount of property insurance to have depends upon the replacement value of your property and co-insurance requirement of the insurance policy, etc. Discuss this carefully with your insurance agent.
As general information, you, the property owner, should also carry property liability insurance to protect you from lawsuits arising from ownership of the property. You may be sued if someone is injured on your property, causing you unexpected losses. It is always a good idea that you maintain adequate insurance coverage on properties that you own.
Mortgage insurance is required if your loan is over 80% of the value of your property. The Bank always escrows for mort- gage insurance monthly. The necessary escrow amount is calculated by the Bank and is included in your monthly loan payment. This is one-twelfth of the annual premium on the required amount of mortgage insurance. The required amount of the mortgage in- surance varies depending upon the percentage amount of the loan to the value of your property. When the percentage of the loan to the value of your property decreases below 80%, the mortgage insurance may be cancelled if your property is your home, your mortgage payment is current and the payment history satisfactory. When your loan percentage is below 80%, you should review the Private Mortgage Disclosure given to you at your closing to determine when the mortgage insurance may be terminated and then advise Loan Servicing Department.
A. Proper Planning
You may wish to pay-off the loan before the mortgage term ends. The need may arise because your property is being sold. The Bank will assist you in providing the necessary documents to conclude your transaction as smoothly as possible. We hope that you will seek financing again with Abacus when you purchase another property.
If you wish to pay-off the loan to refinance for a lower interest rate or to obtain additional cash, please do check with the Loan Origination Department of Abacus. The Bank has many loan programs. You can surely select one that will suit you. By applying for a new loan with Abacus, the Bank’s internal departments can work together to save you expenses such as appraisal fee, legal fee and mortgage tax, etc.
When considering pay-off of your loan, you need to review the mortgage and the note. Some loans carry a prepayment penalty which may be a deciding factor for you.
B. Pay-Off Procedures
Once you decide to pay off your loan, you or your attorney need to inform the Bank in writing and request for a pay-off letter. The pay-off letter is a letter issued by the Bank which lists the loan principal balance due, the interest rate, per diem interest amount, escrow balance, real estate tax payment, late payment penalty, etc. With the letter, you will know the exact payoff amount required. You need the letter for your attorney whether you are selling your property or refinancing the loan.
You or your attorney also needs to advise the Bank of the type of loan satisfaction document needed. For properties located in New York City, an assignment of the existing mortgage is sometimes desired to save a part or all of the mortgage tax if a new loan or refinancing is involved. For properties outside of the New York City or when there is no new financing involved, a release or a satisfaction of mortgage (straight pay-off) is all that is required. The Bank’s attorney needs to know your requirements to prepare the correct document.
The pay-off amount to the Bank must be in the form of certified or cashier’s checks payable to the Bank directly without third party endorsement or by wire transfer to the Bank. Please follow Wire Transfer instruction below:
Abacus Federal Savings Bank
ABA No. 226072870
For further Credit to Abacus Loan number___________,
Borrower’s Name____________________
Upon receipt of the correct payment, a satisfaction and release of mortgage or an assignment of Bank’s mortgage without recourse will be delivered to you or your attorney. You may request the Bank to attend your closing to deliver the document against receipt of the funds if the closing is in New York City and within traveling distance. A fee will be charged for the service.
To expedite the pay-off letter, be sure to include the following information in your or your attorney’s written request to the Bank:
1.Your Loan Number and property address.
2.Your name, address, telephone and fax numbers.
3.The anticipated pay-off date.
4.The type of documents required – satisfaction and release, or assignment of mortgage. If an assignment is requested, indicate the assignee’s name.
5.Your attorney’s name, address, telephone and fax numbers.
Apple Pay FAQs
Apple Pay is an easy, secure and private way to pay for in-store and in-app purchase using the Wallet app on select Apple devices such as iphone 6, iphone 6 plus and Apple Watch. With Apple Pay, you can leave your card in your wallet and make your purchase using your Apple devices.
Apple Pay provides an added layer of security for in-store and in-app purchases by enabling payments for your preferred debit or credit cards without you having to use your physical card. Apple Pay uses tokenization to securely transmit your preferred method of payment with the app or the store's Near Field Communication terminal at checkout. Through tokenization, a Device Account Number along with an encrypted transaction-specific security code is used to make the purchase rather than your card number further protecting your account from being compromised.
Once you have enabled your card within Apple Pay, you can make payments by holding your phone in close proximity to the Near Field Communication or contactless payment terminal and simply placing your thumb on the Touch ID button displayed on your device's screen. You may make an in-app purchase by selecting Apple Pay upon checkout and placing your finger on the Touch ID button displayed on your device's screen. A passcode can be used when making payments in lieu of the fingerprint option.
NFC is a technology that allows a smartphone or other mobile device to safely, securely and purposefully communicate with a payment terminal in very close proximity. You may also hear it referred to as a contactless payment solution. If your device is NFC enabled, look for the NFC icon on the payment terminal next time you are checking out.
Tokenization replaces the personal account number assigned to your debit or credit card with a digital token that can be used for online and mobile payments. The token has no value if stolen or intercepted by an unauthorized party.
Yes, Apple Pay is a secure way to make purchases in-store or in-app using your preferred card. Apple Pay adds an added layer of security to your purchases by using tokenization to securely transmit your preferred method of payment with the app or the store's Near Field Communication terminal at checkout. Through tokenization, a Device Account Number along with an encrypted transaction-specific security code is used to make the purchase rather than your card number further protecting your account from being compromised. In the other words, your card numbers are never shared or transmitted with payment. It’s simple safe and secure.
Apple Pay is a function of the Wallet app on select Apple devices. Your card can be added to Wallet by accessing the app directly or by navigating to "Settings" and selecting "Wallet & Apple Pay" and following the prompts on your screen. If you don't see the option to "Add Credit or Debit Card," swipe down and tap the plus sign. If you already have your card on file for iTunes®, follow the prompts to add it to your Wallet.
Yes, you may add your card on up to ten devices. Your card will need to be added separately to each device through the Wallet app. You will be notified each time your card is added to a new device.
In order to use Apple Pay, you need to have an apple device running on iOS 8.1 or later for contactless and in-app payments. In-Store - Apple Pay is compatible with iPhone® 6, iPhone® 6S, iPhone® 6 Plus, iPhone® 6S Plus, and Apple Watch™. In-App - Apple Pay is compatible with iPhone® 6, iPhone® 6S, iPhone® 6 Plus, iPhone® 6S Plus, iPad Air™ 2, iPad Pro, iPad mini 3, and iPad mini™ 4.
Apple Pay is an accepted contactless payment option among a growing number of retailers and for a growing number of in-app purchases. While checking out in-store, look for the contactless payment and/or Apple Pay symbol on the payment terminal. Look for the "Buy with Apple Pay" or "Apple Pay" button at checkout within the apps. Visit Apple's web site for a complete list of participating stores and apps.
For your security, when you add your card to Apple Pay, a Device Account Number that is separate and unique to your device is created. Your Device Account Number, instead of your real card number, is used to make purchases using Apple Pay further protecting your personal information. Your apple device does not store your card number and nor does the merchant or app with which you are making the purchase.
For each Apple Pay enabled device (iPhone, iPad, and Apple Watch), Apple currently allows a maximum of eight debit and/or credit cards into the Wallet application per device.
You can remove your card by selecting "Remove Card" in the "Wallet & Apple Pay" section of your device "Settings" or on the back of your card in the Wallet app by tapping on the symbol. You can also visit www.icloud.com/settings to remove your card or Find My iPhone to temporarily suspend or permanently remove the ability to pay with your cards on your device.
In order to confirm your identify and protect your personal information, we need to validate your identity when you call in to have a token enabled.
If you need to make a return for a purchase made with Apple Pay, you may be asked to provide to the cashier the last four digits of your Device Account Number instead of the last few digits of your card number. To find the last four digits of your Device Account Number for your card, visit the "Wallet & Apple Pay" section of your device "Settings" or look on the back of your card in the Wallet app.
When you receive a renewed or replacement Abacus card, you need to delete the old card and add new card to the wallet, there is no update service supported at this time.
If you believe your device has been lost or stolen or your Apple Pay card information compromised in any way, please call Abacus Bank to deactivate your enrolled card. This will not impact your ability to use your physical card. You can also go to www.icloud.com/settings or the Find My iPhone app to temporarily suspend or permanently remove the ability to make payments from your device, even if your device is offline.
If you lost your card, please call Abacus bank or number found on the back of your card immediately to protect your account from fraudulent activity, and mention that you added your Abacus card to Apple Pay. We will close your card so that no more purchases can be made. You should also remove the lost or stolen card from Wallet or the Apple Watch app using the “Remove Card” option. When you receive your replacement card, you will need to add the new card to Apple Pay before making any Apple Pay purchases.
At this time, Apple Pay can only be used in the United States.
Apple, the Apple logo, iPhone, iPad, App Store and iSight are trademarks of Apple Inc., registered in the U.S. and other countries. Apple Pay, Touch ID and Apple Watch are trademarks of Apple Inc. App Store is a service mark of Apple Inc.
Abacus Chip Debit Cards FAQs
A chip card is a standard-size plastic debit or credit card that contains an embedded microchip, as well as the traditional magnetic stripe. The chip protects in-store payments because it generates a unique, one-time code that is needed for each transaction to be approved. It is virtually impossible for fraudsters to replicate this feature in counterfeit cards, providing you greater security and peace of mind when making transactions at a chip-enabled terminal.
No, you may hear chip cards referred to as "smart cards" or "EMV™ cards" – they are all different ways of referring to the same type of card. Similarly, an EMV terminal is the same as a chip-enabled terminal.
As chip technology will soon become the security standard in the U.S., many merchants are beginning to accept chip cards and we want you to be ready. You'll have greater security when making purchases at a chip-enabled terminal since the chip provides better protection against counterfeit fraud. Chip technology is already used in over 130 countries around the world, including Canada, Mexico and the United Kingdom. But use of your Abacus Debit Cards maybe restricted in certain international transactions due to security risks. Please contact Bank for details.
It's easy. If the retailer has a chip-enabled terminal, simply insert the chip end of your card face up into the terminal. The chip card will remain in the terminal while the transaction is processed. To authorize your transaction, just follow the prompts as you do today.
You'll be prompted to enter your PIN or to provide a signature as you normally would to verify the transaction. Your card will remain in the terminal until the transaction is completed.
If the retailer is not equipped to read the chip card, just swipe as you do today. However, if you swipe your chip card at a chip-enabled terminal, the terminal may prompt you to insert your chip card into the terminal. Transactions made over the phone or online will not change.
All of our cards are safe, and offer protection from unauthorized use of your card or account information. Chip technology offers another layer of security when used at a chip-reading terminal, because it generates a unique, one-time code that is needed for each transaction to be approved.
Yes, you can still make purchases as you always have — by entering the card number online or swiping your card at merchant locations that do not yet have chip readers. You can also continue to use your card at ATMs.
No. Not all merchants have chip-enabled terminals, Merchant adoption will increase over time, so you card still has a magnetic stripe on the back, allowing you to swipe as you normally would at non chip-enabled terminals.
Yes. Chip technology has been around for over two decades and is already the security standard in many countries around the world. When purchases are made using the chip feature, the transaction is more secure because of a unique process that is used to determine if the card is authentic. This makes the card more difficult to counterfeit or copy.
While magnetic stripe cards are still considered secure, chip technology is the next step to providing enhanced security to our customers. Whether you use the magnetic stripe or the chip to make your purchase, you can have confidence in the protection and security features we provide for all credit and debit card accounts.
Remember, if you notice any suspicious activity on your account, notify us immediately by calling the number on the back of your card.
No. Chip card technology is not a locator system. The chip on your card is limited to supporting authentication of card data when you make a purchase.
No. Instead of waving or tapping your card in front of a device as you do with contactless payments, a chip card must be inserted face up into a chip-enabled merchant terminal. Remember to leave your card inserted into the terminal while the transaction is processed.
Yes. You'll continue to enjoy the same benefits with your chip card as you do today with your debit card.
We recommend that you set a travel notice by contact us at 1-800-969-8423 on any card(s) you plan to use while traveling, so your card access isn't interrupted. For your protection, we'll continue to monitor card activity even when a travel notice is set. If you encounter any issues while traveling, we're here to help.
Yes. You can continue to use your card as you do today by following the instructions at an ATM.
“PayPass” is a trademark owned by MasterCard International Incorporated.
“payWave” is a trademark owned by Visa, Inc.