A PIN transaction can be performed at any merchant’s Point-of-Sale (POS) terminal where you select “Debit” at the POS terminal and enter your Personal Identification Number (PIN) to process your transaction. A Signature transaction can be performed at a merchant’s POS terminal, telephone transaction, or online transaction. Select “Credit” at a merchant’s POS terminal and sign your name to process your transaction. Some signature transactions may not require a signature if the transaction amount is below the merchant’s threshold (usually $25 or less). Telephone and online Signature transactions do not require a signature. The two major differences between PIN and Signature transactions is how the transactions are settled and protected.

PIN transactions are processed and settled almost instantaneously. As soon as you complete your PIN transaction, the funds have been removed from your checking account. Signature transactions are normally processed and settled within one to two days. When you complete your Signature transaction, the funds may take one or two days to be removed from your checking account. Although Signature transactions may take extra time to settle, they come with the added security of Visa’s Zero Liability Policy providing you protection from 100% of fraudulent transactions committed from Signature transactions.