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General Chip Frequently Asked Questions
What is a chip card?
A chip card is a credit or debit card containing an embedded computer chip, which gives the card the ability to store and process data. The chip card provides enhanced security because it is very difficult to duplicate. It also provides a greater convenience, because it allows multiple functions to exist on one card (e.g. stored value, loyalty programs, etc.)
What are the benefits of the chip card to consumers?
Consumers have a lot to gain from the migration to chip technology. Benefits include:
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Added security:
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Added convenience:
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Greater speed and convenience at the point of sale
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Chip platform will allow for the addition of non-payment applications, such as reward programs, in the future
Will chip card transactions be conducted differently than magnetic stripe transactions?
Cardholders can expect to see two changes when conducting a chip transaction:
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Cardholders will insert their chip card into the device or terminal, rather than swipe, and will leave their card in the terminal for the duration of the transaction.
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Credit cardholders will need to enter a PIN, just as they do now for debit cards. PIN is a more secure form of consumer identification and will therefore replace cardholder signature.
Are you doing away with the magnetic stripe on the card?
Magnetic stripe will co-exist with chip to allow consumers to use their cards in Canada at non-chip terminals and in other countries that have not yet migrated to chip technology.
Does the move to chip mean that the magnetic stripe is not secure?
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Cardholders should have full confidence in the security of magnetic stripe cards. The migration to chip technology represents a forward-looking evolution of electronic payments systems designed to make an already safe payments system even more secure.
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During the transition period to chip, magnetic stripe cards will continue to provide Canadians with a safe, reliable and convenient method of payment. In addition, cardholders can be confident in the protection afforded by the added security features offered by individual payment card companies.
Will my chip card be accepted at all terminals?
Chip cards will continue to have a magnetic stripe so the card will work at non-chip terminals.
When will I get my Scotiabank chip card?
Scotiabank will be issuing chip cards in a phased approach starting with the Kitchener-Waterloo Market Trial. We will communicate with you in advance how and when you will receive your card. More details will follow over the next several months.
Are there any additional fees on the Scotiabank chip cards?
No, there are no additional fees related to chip. The same fees that currently apply to your products will apply to your Scotiabank chip card.
I don't live in Kitchener-Waterloo, can I still get a chip card?
During the market trial, we will only be issuing chip cards to select customers who live in the Kitchener-Waterloo area. You will receive your chip card in due course and further details will be released in the coming months.
ScotiaCard Frequently Asked Questions
Why will my ScotiaCard be re-issued on a regular basis?
Because chip cards contain an embedded computer chip to store and process data, we want to ensure that you have the most up-to-date technology to continue to provide you with enhanced security.
What if I don’t want a chip card? Can I continue to use my existing Scotiacard?
All major financial institutions in Canada are migrating to chip technology, starting with a marketing trial in Kitchener-Waterloo and the industry has set dates for conversion to chip. Therefore, all customers will be required to convert to chip technology.
VISA Frequently Asked Questions
Will I be able to use my VISA chip cards outside of Canada?
Yes. Many countries have already successfully adopted chip technology and Canadian chip cards will be fully compatible with these systems. In those countries that have yet to switch to chip technology or do not plan to, cardholders will be able to use their cards since the chip cards will still have a magnetic stripe.
With the introduction of VISA chip cards will the process for mail order, telephone order and internet purchases change?
The introduction of chip & PIN does not change the current process for telephone or internet orders (e.g. hotel and car rental bookings). Cardholders do not need to provide their PIN when making these types of purchases. Cardholders should never be asked to disclose their PIN. During telephone or internet transactions, a merchant will ask you for your account number, expiry date, and in some cases, the three-digit code located on the back of your VISA card in order to verify that you have your card in hand at the time of purchase. An online merchant may ask you for a Verified by Visa password in order to authenticate you.
In countries that have converted to chip, will merchants still accept a VISA card that does not have a chip?
Most chip terminals that accept Visa also have magnetic stripe readers. Most merchants that accept chip-enabled cards are also required to accept magnetic stripe cards and will ask the cardholder to sign the receipt. However, there may be a few instances where there is no sales clerk (unattended terminals), such as ticketing machines (metro and trains), fuel pumps and toll roads, where only chip and PIN cards will be accepted at this time. If you find that your card cannot be used at these terminals, try to locate a terminal where a clerk can help you make the transaction.
How do I get a PIN for my VISA chip card?
Simply drop by your branch and select your own confidential PIN for your current VISA card. The PIN you select will be transferred to your new chip card when it is issued. Otherwise, we will communicate with you in advance to advise you of the different ways you can get a PIN.
Do the other cardholders on my VISA account need a PIN too?
Yes. All cardholders on the account will need a PIN on their VISA chip card
How do I know if my VISA is connected to my ScotiaCard?
If you can access your Scotiabank VISA account online, through TeleScotia, or at an ABM using your ScotiaCard then your VISA is connected.
If you apply my ScotiaCard PIN to my VISA chip card does that mean you know my PIN?
No one except you knows your PIN. PINs are safely & securely stored by Scotiabank in a confidential, encrypted database and is not accessible to anybody.
If I live in Barrie and already have a VISA chip card, how do I change my PIN?
Scotiabank customers can change the PIN on their VISA Chip card at any Scotiabank branch in Barrie.
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