Chip Card FAQs

SVBC Resource Centre-Frequently Asked Questions

1. 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 against lost, stolen or counterfeit fraud because it is very difficult to duplicate.

2. 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 and in other countries that have not yet migrated to chip technology.

3. How do I change my PIN?

When you receive your new chip card, you will need to contact the Scotiabank VISA Business Card Service Centre at 1-888-823-9657 to request or change your PIN (4 digits) by following the prompts. Your three-digit CVV2 number (on the back of your card), along with your date of significance, will be required to select or change your PIN.

4. When does my chip card become enabled?

Your chip card will become enabled during your first transaction at a chip terminal. For this first transaction only, your signature will be required to complete your purchase, and you will not be prompted for your PIN.

5. Do I need to select a new PIN when my chip card expires and a new chip card is re-issued?

No. If you are an existing chip cardholder, you can continue to use your existing PIN.

6. What is a CVV2 number?

The CVV2 number (Card Verification Value 2) is a 3-digit-code on the back of Visa cards, printed at right side next to the signature panel. CVV2 is required for PIN selection/ modification, together with card holder's date of significance. The 3-digit code is also a crucial security feature on Visa cards that helps merchants validate purchases.

7. How do I make a purchase with my chip card?

Insert your chip card into the chip terminal. The card will remain in the terminal for the duration of the transaction.

  • Follow the prompts and enter your secure PIN when requested. Entering your PIN replaces the need for a signature on your VISA purchase slip.

  • Remove your chip card when the terminal indicates the transaction is complete.

8. Do I need to activate my chip card?

Yes. All chip cards need to be activated. A chip card is activated by calling 1-888-823-9657. During the activation process, the cardholder is required to select a PIN.

9. How many incorrect PIN attempts am I allowed at a chip terminal?

You are allowed 3 incorrect PIN attempts, after which your PIN will be blocked. To unblock your PIN, you will need to select a new PIN by calling 1-888-823-9657.

10. What will happen when my chip card is compromised?

Your transactions and balances from your old card will be transferred to your new card. You will be required to activate your new card, and select a PIN in order to successfully make a purchase. You will be provided with a new reference number for the new card.