Debit and credit card use

With the advent of chip and PIN card technology, using your cards is safer than ever before, but there are still risks associated with credit card use and “skimming” that you need to be aware of to protect yourself from fraud.

What is debit or credit card skimming?

Skimming is the process whereby the information that is stored on the magnetic stripe of a debit card or credit card is captured and ultimately reproduced on a counterfeit card. Criminals have honed their technological skills to make card skimming and counterfeiting an effective method of fraud. The PIN, which was a strong method of authenticating a valid card at one time, is now being captured through various other methods.

That’s why we have replaced all existing member cards with new chip and PIN debit cards. The new chip card technology contains an embedded computer chip which stores and processes data. Chip cards and chip terminals work together to provide added security by validating both the card and the cardholder. However, it will take several years before all point of sale terminals and ATMs are converted to chip. Meanwhile, skimming will continue to occur.

How can I prevent credit card skimming?

  • Use your hand or body to shield your PIN when you are conducting transactions at an automated teller machine (ATM) or at a point-of-sale terminal.
  • If an ATM or a point of sale terminal appears to have been tampered with, contact us immediately.
  • Under no circumstances provide anyone with your credit card PIN, especially over the phone. Provide personal information only when you are sure you know who you are talking to and there is good reason to provide it.
  • You should treat your card like it is cash and make sure you never lose sight of it. If possible follow a waiter back to the payment terminal in a restaurant. This may look awkward and silly, but it's essential to prevent your credit card being cloned and misused.
  • Shred old receipts and credit card bills. And be sure they are completely destroyed.
  • Check your card statements regularly. Always report unauthorized or suspicious transactions to your financial institution immediately.

Our Security Guarantee

If you incur losses due to unauthorized online banking or debit card transaction activity you will be reimbursed as long as you fulfill all of your responsibilities under the Account and Services Guide.
Security Guarantee
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