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Where can I get a Visa Debit co-badged card?
Visa Debit co-badged cards will be available nationally at all CIBC branches beginning October 18, 2010.
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How does a Visa Debit co-badged card work online?
Upon selecting items for purchase, you will:
- proceed to the online checkout as you normally would
- select ‘Visa’ as the method of payment
- fill in necessary account information such as card number, expiry date, and the 3-digit code if applicable
- enter your Verified by Visa (VbV) password (if applicable) or wait while VbV is processed automatically
The transaction will then be processed and completed.
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How does a Visa Debit co-badged card work internationally?
Visa Debit co-badged cards are accepted at millions of merchants worldwide and can be used for purchases made in online at participating merchants in Canada, and everwhere outside Canada that Visa is accepted in stores, over the phone, by mail and online. The international acceptance experience may vary from one country to another, and require either a PIN or signature to process a transaction. When shopping outside of Canada look for the Visa acceptance mark.
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How does a Visa Debit co-badged card work for phone and mail orders?
You will need to provide necessary card information such as the card number, expiry date, and the 3-digit code to complete a transaction. Visa Debit co-badged card purchases made by phone and mail are protected by Visa’s Layers of Security which include the 3-digit code, Address Verification Service and the Visa Zero Liability * policy, which protects cardholders from unauthorized use of their Visa cards.*
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Does a Visa Debit co-badged card work at ABMs?
In Canada
Yes. Visa Debit co-badged cards work at Canadian ABM’s the same way other debit cards work today. Similar to other debit cards, you will insert the Visa Debit co-badged card into the ABM, enter your PIN, and select the desired function (withdraw cash, make deposits, transfer funds, check account balances) as you normally would.
Outside Canada
Visa Debit co-badged cards can be used to debit funds directly from your bank account at more than 1.6 million ABMs around the world where Visa is accepted. Just look for the Visa acceptance mark.
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Is the PIN for the ABM the same as the PIN used to make a purchase?
Yes, the same PIN is used for both point-of-sale purchases and ABM transactions.
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How does a Visa Debit co-badged card work for items purchased in advance - for example hotel reservations?
A Visa Debit co-badged card can be used to make hotel reservations and other types of advance payments made prior to using a good or service. With a Visa Debit co-badged card, the amount authorized at the time of the reservation is deducted immediately from your bank account. A hotel room, for example, is paid for at the time of booking, regardless of how far in advance the room is reserved. A hotel may estimate the deduction based on:
- your intended length of stay at check-in time
- the room rate
- applicable taxes
At the end of the stay, when the final cost is calculated, the hotel may adjust the total, with funds either paid by or refunded to you. If a reservation is canceled, refunds are credited back to the account in accordance with the individual merchant’s return/cancellation policy.
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How do refunds work for purchases made with a Visa Debit co-badged card?
The Visa Debit co-badged card used to make the purchase must be presented at the time of refund, which may take five to seven business days to be credited to your account.
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Do Visa Debit co-badged cards expire?
Yes. Shortly before your card expires, your financial institution will provide a replacement card with a new expiry date (in accordance to their individual business practices). The expiry date on Visa Debit co-badged cards is used to process purchases online, over the phone,and for mail orders.
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Does using a Visa Debit co-badged card within the U.S. and pressing ‘Credit’ at the point-of-sale device incur fees or interest?
No. In the U.S., selecting the ’Credit’ option simply indicates a signature-based debit transaction meaning no PIN is required. The purchase amount is still deducted from your bank account the same way it would be for other Visa Debit co-badged card purchases.
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Can a Visa Debit co-badged card be used to get cash from an ABM?
Yes. A Visa Debit co-badged card can be used to withdraw cash from 1.6 million ABMs in 200 countries around the globe
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Can a Visa Debit co-badged card be used to get cash back?
Yes. A Visa Debit co-badged card can be used to get cash back from merchants within Canada. The cash back will be an InteracTM Direct Payment transaction.
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Can Canadian chip-enabled Visa Debit co-badged cards be swiped at Canadian merchants that don’t have a chip & PIN terminal?
Yes. All Visa Debit co-badged cards have a magnetic stripe and can be swiped at merchant locations that don't have chip-reading terminals. The transaction will be processed as an Interac transaction. Cardholders should be aware that transactions processed through Interac are not protected by Visa's Layers of Security.
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Why would I ‘sign’ instead of entering my PIN for Visa Debit co-badged card transactions in the U.S.?
Merchants in the U.S. typically use magnetic stripe technology - not chip & PIN terminals - to process Visa transactions. Visa Debit co-badged cards will be swiped and in locations where PIN pads are not available, you may be asked to swipe your card and sign the sales receipt.
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Why do some Visa Debit co-badged card transactions require neither a signature nor a PIN?
Some merchants offer Visa’s No Signature Required’ service, which helps speed up checkout by allowing you to make purchases of up to $25 (including taxes) without having to sign or enter a PIN.
Online, telephone, and mail order purchases are also completed without a signature or PIN.
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What happens if a Visa Debit co-badged card is used fraudulently?
The Visa Zero Liability* policy provides you with protection against fraud for purchases made online, over the phone or by mail and internationally. Under the Visa Zero Liability policy, you pay $0 for purchases made through unauthorized card use. You should report unauthorized transactions to the card issuer immediately. Within two business days of notifying your card issuer, they are obligated to provide provisional credit and replace the amount under dispute, in most circumstances. You should be aware that transactions in question must be posted to an account before provisional credit is issued. For details, please consult your issuer.
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How can I protect myself from the risk of fraud?
There are a number of relatively simple ways you can help prevent fraud:
- Sign the Visa Debit co-badged card.
- Protect the PIN and don’t reveal it to anyone, not even the card issuer.
- Protect the 3-digit code on the back of the card. The code should only be provided to merchants to authorize transactions when the cardholder has initiated the sale for card not present transactions.
- Report lost or stolen cards to the card issuer immediately.
- Review monthly statements and report any potentially fraudulent charges to the card issuer immediately.
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