On April 1, 2013, a new regulation goes into effect as part of the Dodd-Frank Wall-Street Reform and Consumer Protection Act that requires consumers using a credit/debit card to be provided with the ability to pay at the point of sale using a PIN (Personal Identification Number), in addition to the current signature process. Employers who offer the pre-paid benefits card for employees' FSA transactions will see a slight change in BennyCard administration.
BennyCard holders will now have the option to pay using a PIN, if permitted by the merchant. The use of a PIN is not required to access FSA funds, and cardholders can continue to use the BennyCard Prepaid Benefits Card by providing a signature. The PIN is just a new option that must be made available under banking laws.
A PIN-based transaction is one in which the cardholders identity is verified by entering a personal identification number at the point of sale. A signature is not required. BennyCard holders can create a PIN by calling the Evolution1 benefits center at 1-866-898-9795. The system will prompt the user to set up the PIN information. One PIN is available for all cards in the family.
To utilize the PIN, the user should swipe the card and choose "debit" on the keypad. The user will be directed to enter the PIN to finalize payment.
If you have questions about the BennyCard or the new PIN feature, please call 1-800-945-5513 or email info@BASusa.com.
