Extraco Banks Change from Visa to Discover - kcentv.com - KCEN HD - Waco, Temple, and Killeen

Extraco Banks Change from Visa to Discover

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(KCEN) – Extraco Banks customers can expect a new debit card in the mail, but it won’t be their normal Visa. The bank is currently sending out new Discover debit cards to their 35,000 card holders in a switch that has many customers doubting their bank choice.

“It is a change, so that creates a lot of anxiety and miscommunication,” Extraco executive vice president Misti Mostiller said. “But once we walk them through the change they feel much better.”

Mostiller says the bank weighed their options – and Discover won with more benefits that can be passed to the customers like lowest purchasing price guarantee, identity theft defense, and travel assurance services.

But the main concern Extraco has been hearing from their customers, is whether Discover will be accepted at the same places. Mostillier says the bank had this same worry when they began looking at different options.

“We didn’t take this change lightly, but what we got was kind of perception versus reality,” Mostiller said. “We actually had discover run the transactions our employees were doing and our acceptance rate was on par. Some days it was actually higher than what our Visa acceptance rate was.”

For the past two years Mostiller says they been running test pilots with the Discover cards and found that most places do accept it as debit. “I’ve personally experienced it, where I’ve used my Discover debit card and they said oh no we don’t accept that as credit, but when you run it as debit it works,” she said.

Mostiller admits there are some places that will not take Discover, but no card – even Visa or Mastercard – is accepted 100% of the time.

Customers can expect to get their new debit card between now and early July. Once you receive your card another letter arrive two days later with a pin number. Once you activate that card, you can change your pin. Mostiller says it is also important to change any reoccurring payments you have set up with your current Visa debit card because the number will change.  That Visa card will deactivate on August 20th.

If you have any questions you can call or visit your local Extraco branch or (click here).
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