What is a chip-enabled card?
A chip card, or “Smart card”, has both an embedded chip on the front and a traditional magnetic stripe on the back. The chip can be either silver or gold.
Why are we issuing cards with a chip?
Chip cards have been proven to reduce counterfeit card fraud. Additionally, you will experience improved card acceptance internationally where chip-enabled cards are the standard.
Are chip cards more secure?
Yes, chip cards make in-person transactions more secure. When you use your card at a chip-activated reader, the chip will generate a unique code for each transaction. This prevents stolen data from being fraudulently used to make a counterfeit card.
When will I receive my chip-enhanced card?
If you are a current FirstBank debit or ATM cardholder, you will automatically receive a chip card to replace your existing card soon.
How do I make a purchase using the chip?
- Insert the chip portion of your card into the reader with the chip facing up. Leave your card in the reader.
- Follow the prompts on the screen. You may be asked to enter your PIN or provide a signature.
- Remember to take your card after your transaction is complete.
What if the merchant doesn‘t have a chip-activated reader?
No problem. Just swipe your card using the magnetic stripe.
What information is stored on the chip?
The embedded chip stores only the information required to process a transaction. No personal information is stored on the chip.
Can my chip card information be stolen using a smart phone?
No, this type of theft (can be referred to as “electronic pickpocketing”) only applies to cards that have wireless capabilities which we do not currently issue. Cards that have wireless capabilities allow you to wave their card over the merchant‘s terminal to make a payment. Our chip cards require you to insert and leave the card in the terminal to complete a transaction.
What if I swipe my chip card at a merchant accepting chip cards?
You will be prompted by the reader to insert your chip instead.
Are there any additional fees or costs associated with my chip card?
No. There are no additional fees for having a chip-enabled card.
Person to Person Transfers
What is FirstBank's Person to Person Transfer Service?
With Person to Person (P2P) Transfers from FirstBank, you can transfer funds easily and securely to almost anyone using only their email address or mobile phone number. FirstBank's P2P Transfer Service is fast, secure, convenient and available through Online Banking or the FirstBank Mobile App.
Can I send money to anyone?
As long as your recipient has a U.S. bank account, they will be able to receive a transfer.
Will my contacts see my bank information?
Your bank account information is confidential and will never be shared with your contacts. The only information your contacts will see is your name and your email address or mobile phone number, depending on how you sent the transfer.
What is the security code used for?
This is a security feature used to verify that the email address or mobile phone number registered is accessible by you. Messages are sent via your contact method, so by verifying your access to this method, you are confirming that you will receive notification of transfers.
What information do I need to send a transfer?
All you need is your recipient's name and email address or mobile phone number.
How do I send a transfer?
From the website, select "Person to Person" from the navigation bar under Transfers. Follow the one-time enrollment steps. Add a new contact by selecting "Add New Contact" and then navigate to the Send tab to get started.
From the mobile app, select the P2P tab from the navigation bar. Follow the one-time enrollment steps, go to the Contacts Tab to import a contact from your mobile device or manually add one, and then navigate to the Send tab to get started.
When will my transfer be received?
Outgoing transfers may take up to three business days to be received. Recipients will be notified immediately that a transfer is on its way.
What are the limits?
- Daily Limit: $1,500.00
- Weekly Limit: $5,000.00
- Monthly Limit: $10,000.00
What are the fees?
There are no fees for P2P transfers.
How will my contacts receive transfers?
Your contacts will receive either an email or text message notifying them of your transfer. If they have never received a P2P transfer before, they will need to register through a one-time process to set up their bank account to receive your transfer. After registration is completed, the funds will be sent to their bank account.
How do I receive P2P transfers?
When you register for FirstBank's P2P Transfer Service, your email address or mobile phone number is tied directly to your FirstBank Checking or Savings account of your choice. When other P2P customers would like to send you funds, all they need is the email address or mobile phone number that you have registered. You will receive a notification via this method anytime someone is sending you a transfer.
When are funds debited from my account?
As soon as you submit a transfer, the funds will be removed from your available balance.
What happens if my contact never registers to receive my transfer?
Your contacts have 14 days to register to receive their first P2P transfer. If they do not register, the funds will be credited back to your account.
How can I change my contact method?
From the website, select "Person to Person" from the navigation bar under Transfers. Select the Contacts tab and click on "Change My P2P Information." Changing your contact method will require verification with a new security code.
From the mobile app, open up the main menu on the upper right hand corner of the app and select Settings. Select "Person to Person Transfers." Changing your contact method will require verification with a new security code.
How do I change my contact's information?
From the website, select "Person to Person" from the navigation bar under Transfers. Select the Contacts tab and click on your contact's name to change the name or nickname. To change a contact's email address or phone number, you will first need to delete the contact by selecting the trash can icon next to their name. Then enter in the new email address or mobile phone number by selecting" Add New Contact."
From the mobile app, select the P2P tab from the navigation bar. Select the Contacts tab and tap on your contact's name to change the name or nickname. To change a contact's email address or phone number, you will first need to delete the contact by swiping left on their name and tapping the trash can icon. Then enter in the new email address or mobile phone number by selecting" Add New Contact."
Can I edit or delete a transfer?
Once a transfer has been submitted, it cannot be edited or deleted.
What happens when I delete a contact?
Your contact will be removed from your P2P contact list. All pending transfers will still process.
What does the activity section show?
On both the website and mobile app, the activity section of P2P will display all incoming and outgoing transfers within the past 30 days.
What types of accounts can send and receive transfers?
Most Consumer and Business Checking and Savings accounts are eligible for sending and receiving transfers.
What is my preferred account?
Incoming transfers will credit your preferred account. This is also your default account for scheduling a transfer.
Can I change my preferred account?
Yes, you can always change your preferred account.
From the website, select "Person to Person" from the navigation bar under Transfers. Select the Contacts tab and click on "Change My P2P Information."
From the mobile app, open up the main menu on the upper right hand corner of the app and select Settings. Select "Person to Person Transfers."
I am trying to register my email address or mobile phone number and I am receiving a message that is it already registered. Why?
An email or mobile phone number can only be registered once in our P2P Transfer network, which includes Bank of America, Wells Fargo, and clearXchange. If you have registered your email address or mobile phone number with a member bank of our P2P network or at clearXchange.com, then you will need to call a FirstBank Customer Service Representative at 800-964-3444
so you may register it with FirstBank instead.
What if I send a transfer but it is not received by my recipient?
Please allow three business days after your recipient has registered to receive the transfer. If after this time the transfer has not been received, please call a FirstBank Customer Service Representative at 800-964-3444
What are Overdraft Services?
While using this service your FirstBank Debit Card allows you to pay for items even when there is not sufficient money in the account to cover the transaction(s). We do this to help you avoid the embarrassment of having a transaction declined at a grocery store, gas station, etc. This service is especially helpful when you cannot make a deposit until later that same business day.
If you do not use this service all ATM and debit card transactions will be denied if you do not have sufficient funds to cover the transactions.
You may also use this service for checks, ACH, bill payments, and recurring debit card transactions.
What does it cost?
You will be charged a $34 fee each time a debit card transaction (one time or recurring), check, ACH, or bill payment is paid on your account and you do not have sufficient funds in the account. You will be charged a $34 fee each time a check, ACH, or online bill payment is returned on your account because of insufficient funds in the account. We charge a maximum of 5 fees per day and we will not charge fees on items under $5. If your account is overdrawn for 5 or more consecutive business days, we will charge an additional $5 per business day retroactive to the first day the account was overdrawn.
When do I need to make a deposit to avoid overdraft fees?
In most cases, there will be no fee if you make a deposit to cover the cost of the transaction(s) the same day they were performed. You will have until the close of business to make a deposit at a branch, by telephone or online transfer. If you make your deposit at a FirstBank ATM, the cut-off time for same-day credit is posted on the machine.
If I sign up to be covered, will my transactions always be approved?
No. While most transactions are approved, we reserve the right to approve or decline transactions at our discretion.
How can I avoid paying overdraft fees?
There are a number of easy ways to avoid overdraft fees:
- Keep a transaction register. Record all account transactions in a register. This will help you make sure there are enough funds in your account to pay for transactions.
- Sign up for Online and Mobile Banking. Enroll at efirstbank.com for 24 hour access to your account information.
- Stay informed with FirstBank Alerts. Use customizable email and text message alerts to inform you when account balances are low.
- Apply for an overdraft protection plan, such as a cash reserve line of credit or a link to a savings account, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.
Important Details About FirstBank Overdraft Coverage
The overdraft fee(s) may be imposed for covering overdrafts created by check, in-person withdrawal, debit card transaction, or other electronic means.
Once an overdraft has occurred, you are obligated to bring your account to a positive balance promptly.
Whether your overdraft is paid is at our discretion, and we reserve the right to not pay a transaction. For example, we typically do not pay overdrafts if your account is not in good standing or you are not making regular deposits.
Smart Choice College Savings Plan
What is a 529 savings plan?
529 plans are state-sponsored college savings plans established by the federal government in Section 529 of the Internal Revenue Service Code. 529 plans offer attractive tax benefits that help families save for college.
What are the benefits of a Smart Choice College Savings Plan?
If you are a Colorado resident, every dollar you contribute to your account can be deducted from your Colorado State taxable income. Your account will grow federal and Colorado State tax-free for the duration of your investment. If you use your account for qualified expenses, earnings are also exempt from federal and Colorado State taxes. Residents of other states may still be eligible for certain tax benefits. Please consult your tax advisor for specific information regarding tax benefits.
Who can participate?
Anyone can open an account and anyone can be a beneficiary. Parents, grandparents, or other relatives can save through a Smart Choice College Savings Plan. You may even open an account for yourself. There are no age limits on who may invest money or who may benefit from the funds.
Can there be more than one account for the same beneficiary?
Yes. However the aggregate balance of all accounts for a single beneficiary may not exceed $350,000.
Is the beneficiary required to attend a Colorado college?
No. You may use your funds at eligible public and private colleges, universities, trade and vocational schools across the country.
What if the beneficiary doesn't go to college?
If the beneficiary decides not to attend college, you can name another beneficiary (certain restrictions apply; please see the Plan Disclosure Statement for complete information), or you can choose to leave the funds in the account for a time when he or she might decide to attend college. If you need your savings for another purpose, you can withdraw the funds; however, there are tax consequences for non-qualified withdrawals.
What higher education expenses are covered by the plan?
You can use your savings to pay for qualified expenses such as tuition, fees, certain room and board, required books and supplies, and certain computer equipment, software, and Internet access (for 2009 and 2010 only). Other withdrawals may be subject to federal and state taxes, as well as penalties.
How do I change a beneficiary?
Changing a beneficiary will require closing the existing Smart Choice College Savings Account and opening a new Smart Choice College Savings Account for the new beneficiary. For tax reporting purposes, this transaction will not be considered a distribution. You may begin this process by completing a Change of Beneficiary Form and returning it in person to any FirstBank location, or calling us at 800-964-3444
How do I change the Successor Account Owner?
Please complete the Designation of Successor Account Owner Form and return it in person to any FirstBank location or mail the form to the address provided below.
529 Plan Administrator
12345 West Colfax Avenue
Lakewood, CO 80215
How do I perform a Rollover?
Please include a completed Rollover Certification Form when you make your deposit. Please note, there is a limit of one rollover per calendar year.