2.4.2 The debit card code

The Canadian Code of Practice for Consumer Debit Card Services is a voluntary code that outlines the responsibilities of consumers and the financial industry. It helps to protect you when you use debit card services in Canada.

Under the code, it is your responsibility to use a secure personal identification number (PIN) and to keep it secure.

• Choose a PIN that is hard to guess.
• Don't tell it to anyone, and if you write it down, keep it separate from your debit card.
• Check your account statements frequently.
• If your card is lost, stolen or stuck in an automated teller machine (ATM), or if there has been a transaction you did not authorize, immediately report it to your financial institution.
• For more information about keeping your PIN and debit card safe, see the Fraud protection module.

If you are a victim of debit card fraud, it is usually up to the financial institution to show that you are responsible for the charge, and not the other way around. Financial institutions will usually cover any losses if you have taken the appropriate steps to protect your card and your PIN.

The Financial Consumer Agency of Canada monitors the compliance of federally regulated financial institutions with the code. For full details, go to the Financial Consumer Agency of Canada’s information on the Canadian Code of Practice for Consumer Debit Card Services.