VAU Makes Updating Your Debit Card Hassle Free!
Some facts you should know about the Visa Account Updater Service
What is Visa Account Updater (VAU) and what does it do?
VAU is a service that will provide card number and expiration date updates to merchants who maintain card records on their system, typically for recurring customer payments. This service provides a way for issuers to communicate the most recent and prior card information to Visa.
How does this service benefit me?
- Seamless card information update process for participating merchants once new or reissued cards are received – reducing the likelihood of service interruptions for subscriptions or recurring payments for COF merchants.
- Improved cardholder experience and satisfaction due to reduced likelihood of denials when card information is updated automatically for participating merchants.
- Lessens the possibility of late fees and service disruptions with utility companies or other subscriptions with participating merchants.
What is a card-on-file (COF) merchant?
COF merchants keep customer card numbers on file for recurring payments. Examples include subscription services (such as Netflix) and utility companies.
What happens when a card expires (same number, extended expiration date)?
If the card is a standard reissue (activation is required) and the card is not opted out of the service, no immediate action is taken. When the reissue card is activated, an updated expiration date will be sent to the appropriate network.
Can I opt-out?
Queenstown Bank is providing customers the ability to opt-out of VAU should they choose to not participate. When expiring cards are due to be re-issued, customers will be sent a letter about VAU that provides an opt out option that they can sign and return prior to activating their new card. The opt out form must be returned prior to activating their new card. If the customer chooses to participate in this service, they do not need to do anything as they will be enrolled automatically.
Note: Cardholders are still responsible for following up with merchants in order to ensure they automatically received fully updated card information through the account updater service, or to provide additional and or required information. Not all merchants participate in automatic updates. Updates are not guaranteed before the next billing cycle.