Effective 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 to be provided with the ability to pay using a Personal Identification Number (PIN) at the point of sale, in addition to the current signature process.

Even after April 1, the use of a PIN is not required to access funds via the Benny Prepaid Benefits Card. Participants can continue to use the card as they always have – simply by swiping and providing a signature. However, this voluntary option will be welcome news to consumers who prefer the added security associated with a PIN.

The implementation of this change will not require the issuance of new Benny Prepaid Benefits Cards to any participants. If a participant wishes to create a self-selected PIN, they will do so by calling a toll-free number. This information will be posted on the home page of MyFlexDollars.com. In addition, participants can access a set of related Frequently Asked Questions that will be posted online at MyFlexDollars.com.

Participant Messaging:
This message will be posted online at MyFlexDollars.com:

As of April 1, 2013 you now have the option to pay using a Personal Identification Number (PIN) when you use your Benny Prepaid Benefits Card. To create a PIN, please call 1-866-898-9795. To use your PIN at the point of sale, simply select “Debit” and enter your PIN when prompted.

Using a PIN is not required. You can continue to sign for debit benefit card purchases, just as you’ve done in the past, by choosing “Credit”.

Noteworthy:

• When participants choose to select a PIN, the same PIN is issued to the participant/family.
• Using a PIN does not enable participants to receive cash back or access accounts via ATM.

Next Steps:

• Vantagen will post the participant messaging and FAQ online at MyFlexDollars.com in advance of the April 1, 2013 effective date.
• Vantagen’s servicing team is being trained on the new option and how to educate participants on the subject. Additionally, we anticipate that some participants will report decline issues at the point of sale – specifically in those situations where the “Debit” option is incorrectly selected and the participant has not requested a PIN. In these situations, while the merchant should be able to assist the participant, our experience tells us that merchant level education can be inconsistent. Therefore, we will be positioned to support education tied to this type of point-of-sale issue.

• Vantagen will be working to integrate the PIN option into future post-enrollment FSA participant communications.