Please be aware, there has been a recent influx of Bill Payments fraud, perpetuated by fraudsters gaining access to login credentials and proceeding to set-up bill payees (mostly prepaid credit cards) and initiating transfers.
This can only be done by someone who has access to your debit card number and your passcode. It is essential that you do not share personal information such as your debit credentials with anyone.
To protect our members and minimize the risk to this type of fraud, we have taken the step of temporarily turning off the ability of members to add a bill payee without contacting the branch.
During this time, you can call our Call Centre during business hours at 905.728.5187 to add any new bill payees. This temporary measure will not change any of your currently added payees.
In the meantime, we are working on a 2-step verification process that will minimize the risk of this type of fraud reoccurring in the future. More details on this will be shared soon. The safety of our member information and the security of your money is of upmost important to us, and we will continue to support you during this time.
If you suspect you may have inadvertently shared your information with someone you do not trust, we ask that you change your passcode immediately or call our team at 905.728.5187 for assistance during branch hours.
2-step verification (2SV) is an industry standard in helping to protect you against many types of fraud, and will soon be a requirement for both mobile and online banking services. It offers more protection for your Pathwise accounts by creating an extra barrier that’s harder for cybercriminals to break through. Setting up 2SV is an important step towards keeping your accounts safer.
How does 2-step verification protect my account?
When 2-step verification is setup, you will be asked to verify your identity using the method you activated. You will be sent a verification code or asked to respond to a notification in order to sign into your account from a device you haven’t used before.
If you are signing in from a trusted device (one that is recognized by the bank), you will not be asked to confirm your identity.
2SV ensures your identity is confirmed and helps keep your financial and personal information from being compromised or stolen. When 2-step verification is set up, even if someone has your username and password, they will not be able to access your account without this requiring you to confirm your identity.
When is 2-step verification going to be available to setup?
We are working with our vendor partners to activate this feature in mid-October. More information will be shared soon.