Protection: what we're doing

Every year, thousands of Canadians fall victim to various types of frauds such as credit card and debit card fraud, scams, identity theft and online fraud.

Vancity has many safeguards in place to protect you. From secure firewalls, web encryption to enhanced monitoring, these systems allow us to identify fraudulent transactions, sometimes even before the transaction is completed.

In this section, you’ll learn more about the proactive steps Vancity takes everyday to protect you from fraud.

Security Guarantee

Vancity will reimburse you for unauthorized transactions provided you fulfill all your responsibilities under the Account and Services Guide.

To minimize the risk of unauthorized transaction activity on your account, you must:

• Monitor your accounts regularly and immediately report any unauthorized transactions, lost/stolen ID, debit, or credit cards.
• Protect your passwords. Never share banking passwords, personal access codes or One Time Passcodes (OTPs) with anyone including friends or family members.
• Keep cheques/cheque books in a secure place and never pre-sign blank cheques.
• Never disclose personal and banking information after receiving an unexpected call, text, or email even if the caller and caller ID claims to be from a financial institution or trusted organization. If ever in doubt, hang up and call us directly.

You will be liable for losses in situations where you contribute to the unauthorized access of your account if you:

• Fail to report unauthorized transactions within 30 days.
• Share your account details, access codes and/or OTPs with a third party.
• Did not take the necessary steps to protect your account information and access codes.
• Refuse or do not cooperate with the investigation.

Fraudsters use pressure tactics and play on your emotions to urge you to take quick action, disclose personal banking information, debit and credit card numbers, PINs and passcodes so it is important that members be diligent and extremely cautious in situations where personal information is requested.

Security Technology

From Chip and PIN cards to online alerts, we have introduced several security technologies for debit and credit card use, and online banking designed to minimize your risk of fraud.