Chip Technology

Introducing Chip Technology: Making a Secure Payment System Even More Secure

At CIBC, we're always looking for ways to improve your overall banking experience and to provide you with an even more secure system of debit card and credit card fraud protection. That's why we're incorporating the added security of chip technology into CIBC Convenience Cards®, CIBC Visa™ Cards and CIBC Instant Teller® locations.

What is chip technology?

Cards with chip technology use an embedded microchip to encrypt information, making it more difficult for unauthorized users to copy or access the data on the card. The move to chip-enabled card technology is the latest innovation in an evolving debit and credit card payment environment. Chip technology is already tested, proven and in wide use around the world, and chip-enabled cards are quickly becoming the new global standard for enhanced safety and security.

How will chip technology change the way I pay?

Over the next few years, point-of-sale terminals and bank machines across the country will be outfitted to accept debit and credit cards with chip technology. Your chip-enabled CIBC Convenience Card and CIBC Visa Card will still feature the familiar magnetic stripe on the back to ensure it is accepted everywhere you use your cards today.

While migration to chip-enabled cards takes place over the next few years you can continue using your current card(s) as you do today.

You'll receive your new CIBC Convenience Card in the mail when it is time for CIBC customers in your postal code to be switched over. We are not accepting requests for early migration to chip-enabled Convenience Cards at this time.

CIBC Visa Cards** are now being introduced to our customers across the country. For CIBC Visa Cards, chip technology will require you to use your PIN for purchases at chip terminals- which is different from what you do today- and for cash advances at bank machines. Your PIN will be the key to using your new chip card. When you are issued your new CIBC Visa Card with chip technology, you will also be sent a PIN to use when making transactions. It will become extremely important to remember your PIN, as more merchants replace their magnetic stripe point-of-sale terminals with new terminals that process chip-enabled credit cards.

To learn more about how chip technology is increasing security, visit INTERAC for information regarding your chip-enabled debit card or Visa for information regarding your chip-enabled credit card.

For more information from CIBC, call us at 1-800-465-2422

*Visa Int./lic. user.

** Excludes CIBC U.S. Dollar Visa Card.