FAQ

• 
  General
  
  What is a chip card?

  The chip card is simply a new debit or credit card that has an embedded microchip that provides a higher level of security and convenience. The chip is encrypted and can only be used with your Personal Identification Number (PIN).

• Why are we moving to chip?

  Chip and PIN technology, already in wide use around the world, makes a secure payment system even more secure by reducing card fraud. Chip cards contain an encrypted microchip which is very difficult to counterfeit, and cardholders are required to enter their Personal Identification Number (PIN) for all chip card transactions. Chip card transactions also enhance security because your card never leaves your sight.

• Where can I find out more information about chip technology?

  You can find more information by visiting the following sites:
  MasterCard^®
  Interac^®1

• 
  Usage & Acceptance
  
  Is there any difference in the way we use chip cards vs. existing magnetic stripe cards?

  The magnetic stripe cards that we use today are swiped at a retailer when you make purchases.
  
  When you make a transaction at a chip terminal, you insert your chip card into the terminal. Your card stays in the terminal until the transaction is complete. You’ll need to use your PIN for ALL purchases at chip terminals, including credit card purchases. Your signature won’t be required for credit card purchases. When the transaction is complete, you’ll be prompted to remove your card from the chip terminal.

• What if I don’t know my PIN? How can I change my PIN?

  There will be no change to your HSBC debit card PIN. When you receive your new chip HSBC debit card you can start using it right away with the same PIN and destroy your old card.
  
  If you have an HSBC MasterCard, a reminder of your PIN will be issued for use. This will be mailed to you a few days before you receive your chip HSBC MasterCard.
  
  You will be able to change your HSBC debit card or HSBC MasterCard PIN at any HSBC Bank Canada ATM. However, if you do not know your PIN or have forgotten or lost it, contact HSBC for assistance.

• Can I continue to use my magnetic stripe card before I receive my new chip card?

  Yes, you can continue to use your card until you receive your new chip card.

• Can my chip card be used anywhere?

  Yes, your chip card can be used anywhere in the world. You will insert your chip card into a retailer’s chip terminal, follow the prompts and enter your PIN to complete the transaction.
  
  If you are using your chip card at a location that does not yet have a chip terminal, your card will be swiped. For credit card transactions your signature will be required.

• Can I use my chip card outside Canada?

  Chip card transactions will work the same way as they do in Canada.
  

  1. Insert your chip card into the terminal instead of swiping it.
  2. Leave your card in the terminal for the entire duration of the transaction.
  3. Follow the instructions on screen and enter your PIN.
  4. When your transaction is completed and approved, remove your card and take your receipt.

  
  When traveling however, you should consider choosing a four-digit PIN as some terminals and ATMs overseas will not accept a PIN with more than four digits.

• If I’m traveling outside of Canada, will my current magnetic stripe card still work?

  Yes, you can use your current magnetic stripe card at any HSBC ATM’s worldwide, any ATM that displays the Cirrus symbol and anywhere MasterCard is accepted. While many countries in Europe, Asia and Latin America have already moved to or will be moving to Chip and PIN technology, they also still accept magnetic stripe cards as a reliable and secure form of payment. You are not required to have a chip card to transact in these countries and can use your current magnetic stripe card with confidence.

• 
  Transition to new chip cards
  
  When is HSBC rolling out the new chip cards?

  Chip and PIN HSBC debit cards and HSBC MasterCards will start being issued in early 2010.

• Can I refuse a chip card?

  Unfortunately you can not. Over the next few years, all HSBC magnetic stripe cards will be replaced with Chip and PIN cards – the new global standard. Current market research shows an overwhelming preference by Canadians for the use of a PIN instead of a signature to authorize their transactions.

• Can I request to have my existing card replaced with the new chip card immediately?

  Unfortunately, HSBC is not able to accommodate requests for Chip and PIN cards at this time. This is an automatic process and there is no action required on your part. Until then, continue using your current HSBC debit card or HSBC MasterCard with confidence, just as you do today.

• Will the card number on my chip card be different from the current number?

  No, your card number will remain the same as your current magnetic stripe card. However, the expiry date will change so you should notify any merchants with whom you have pre-authorized payments to ensure no payments are missed.

• 
  Security & Privacy
  
  If chip technology is more secure, does that mean payment systems using magnetic stripe technology is not secure?

  Magnetic stripe technology continues to be a safe form of electronic payment. Chip technology is an evolution of the electronic payments system designed to make an already safe payments system even more secure.

• What information is stored on the chip?

  Payment related information (such as card number) is stored on the chip, which allows transactions to be authorized and processed. This is the same type of information currently stored on magnetic stripe cards.