Bank Card and Credit Card Security
Protect your PIN, protect your money
PIN and password protection
Interac Association and its members continue to work together to protect you from debit card fraud.
You can also play a role in prevention by remembering to protect your Personal Identification Number (PIN) and by practicing debit card safety.
Debit Card Safety Tips
- If you have a chip card, insert the card first. If the point-of-sale device is not chip capable it will prompt you to swipe your card. Avoiding an unnecessary swipe of the card will reduce the potential of your card information being skimmed.
- Use your hand or body to shield your PIN during every transaction conducted at an Automated Banking Machine (ABM) or at the checkout.
- Keep an eye on your debit card when conducting a transaction at the checkout.
- Check your banking statements regularly and contact your financial institution immediately if you detect any unusual activity, for example, purchases you did not make or missing charges.
- Notify your financial institution immediately, if your debit card is lost, stolen or retained by an ABM.
- Memorize your PIN – only you should know it. If you suspect that someone knows your PIN, even a friend or family member, change it immediately.
- Select a unique PIN. Never use obvious information, such as, your telephone number, date of birth, address or Social Insurance Number. These are numbers often stored in the same place as your debit card enabling criminals to easily guess your PIN.
- Always use a different PIN for each of your cards, this way if someone should figure out your PIN they can’t access all your accounts, for most people this is the hardest rule to follow because remembering multiple PINS can be challenging so if you can’t remember all your PIN’S then use a secure program like the GetITOrganized iPhone password protection program to store your PIN and bank or credit card information securely, this way they are with you at all times but securely stored on your iPhone.
- When using an ABM, if you suspect anything unusual do not use the machine and report it to the financial institution immediately.
- Remember to take your card when the transaction is complete.
- Be alert. If someone is watching you or makes you feel uncomfortable, cancel the transaction and use a different machine.
Remember to insert your chip card first throughout the transition to chip
In an effort to combat debit card skimming and the production of counterfeit cards, Interac Association is transitioning to a new generation of payment card technology, known as chip. Chip technology provides the card with processing power, allowing the card and the terminal to communicate and carry out additional security checks to ensure the card is valid. The full security of a chip transaction is achieved when a chip debit card is inserted into a chip-capable terminal.
Chip debit cards and chip capable ABMs and store terminals are already entering the marketplace; however, given the vast number of debit cards and terminals across Canada that must be upgraded, the transition will not be completed until 2015. During the transition, some magnetic stripe transactions will still continue to take place. As a result, your magnetic stripe can still be skimmed at a terminal that has not been upgraded to chip technology, even if you have a chip card, so it is important to continue to routinely practice debit card safety.
Continue to protect your PIN and check your financial statements regularly. If you have a chip card and are not sure whether the store terminal is chip-capable, insert your card first. If the terminal is not chip capable, it will prompt you to swipe your card. By inserting first, you avoid an unnecessary swipe of your card and reduce the potential of your magnetic stripe being skimmed.
Remember if you have several credit cards and debit cards and must store your passwords and PINS somewhere then NEVER use spreadsheets, paper, notepads instead use a secure program like the GetITOrganized iPhone password protection program to store your PIN and bank or credit card information securely, with the secure GetITOrganized application you have your banking information with you on your iPhone.