Protecting Your Debit Card and PIN

Debit cards are used so widely that most Ontario consumers can’t imagine life without them.  Millions of times a day consumers use their cards to access their financial accounts, or to make purchases from suppliers of goods and services.

As the use of debit cards has risen, so has the number of scam and fraud artists targetting consumers’ hard earned cash.

Smart-shopping experts at Ontario’s Ministry of Consumer and Business Services say the main reason is the large return that the scam artist can receive through little effort.

While financial institutions cover consumer losses in cases of fraud, it is important to understand when you could be liable for losses.

Consumers who want to learn more about how to protect themselves from debit card scams and fraud will want to know about a special package of information, Consumer Use of Debit Cards and PINs, developed by a partnership of representatives from provincial and federal governments, working together with companies and organizations that have an interest in debit card services and consumer protection.

For more information, view the Canadian Code of Practice for Consumer Debit Card Services a voluntary code of practice followed by many financial institutions and retailers across the country.

Protect your debit card and PIN, and protect your money!