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Debit card reissuing part II: 4 tips for safe debit card reissue

October 16, 2013 by Kevin Christensen — Vice President, Audit, SHAZAM

In a previous post, I shared tips for deciding whether to reissue a compromised or stolen debit card. When the decision is to reissue, there are a few things to keep in mind.

What follows are a few ideas for making the process as low-risk, inexpensive, and easy as possible — for both the issuer and the cardholder.

When track data has been compromised, use the comp card hotlist as a backup and not a remedy while in the reissue process. Using a hotlist allows you to put compromised cards in a special state that allows fraud operations to write rules and implement risk management parameters specifically geared toward cards on the list.
In many cases you can keep the same primary account number and PIN as long as you add new security values and a new expiration date.
Don't send a PIN mailer upon reissue. The cardholder already has it and sending it again risks exposure.
Evaluate daily limits. Many times cards are issued with a limit that may not be appropriate for the cardholder — make sure your financial institution is comfortable with the limit.

The importance of speed when reissuing debit cards can't be overstated. Debit cards are often a customer's go-to source for everyday purchases.

When a cardholder is waiting for her new card to arrive, she's likely to turn to another piece of plastic in her wallet. Don't let her fall in love with the other guy while waiting for her first love to return.

Read more about security.