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Main page  |  FAQ  |  What functions does CVC2 code perform?

What functions does CVC2 code perform?

2016-06-10 00:00:00

Today, bank cards are presented in a very wide range, ranging from the most ordinary and with a minimum set of features, and ending with cards of the class "Gold", "Premium" and similar elite payment instruments. Before the advent of the Internet, debit and credit cards were well protected, since in order to steal funds, attackers had to get hold of the card and find out the authorization code.

It was impossible to steal money in other ways. But in the era of electronic payments, the problems have increased as users began to use cards to pay for online purchases. For the security of financial transactions, a special code CVC2 was developed for cards of the payment system "MasterCard", and CVVC2 for cards " Visa ".

These codes are always three-digit and can be found on the back of the card. The code can be located in different places: on the signature strip, in a place specially allocated for the code. Well, if you cannot find the number, then you should contact the bank that issued the card for clarification. So what is CVC2? This is an additional code on your card that is assigned to most issued bank cards. A client who has applied to a bank to receive a payment card can, if desired, refuse to use the code, but such cases are rarely recorded, since CVC2 codes are an additional level of security for payments, and the safety of money for people is of paramount importance.

 

Purpose of codes CVC2 and CVVC2

What is the CVC2 code for? This code was developed specifically for conducting financial transactions at a distance. A three-digit number is a guarantee that the person making the transaction, payment or money transfer is the owner of the card. This method of confirmation ensures that the card is not used by another user who, for whatever reason, has learned the cards number and PIN. If you lose your bank payment details, the meaning and purpose of the code is lost. If this happens, you should immediately contact the banks employees and close access to any financial transactions using the lost card.

In developed countries, where banks value the safety of customer savings more, additional layers of protection are used. The most common way to protect an ongoing financial transaction is to confirm with a phone number. In European countries, you can buy a SIM card for a mobile phone only if the person has a personal document, for example, a passport. The phone number is tied to a specific person and to his bank account. When using the card for payments at a distance, in addition to the CVC2 code, confirmation is additionally carried out via SMS. Some banks use voice confirmation.

Such security measures were introduced for a reason. Over the past decade, cases of theft of money from bank cards have increased. And the methods of conducting illegal operations have become more sophisticated. It is difficult for official financial institutions to keep track of all technological innovations, but hackers not only follow innovative developments, but also actively test them. They know perfectly well what CVC2 is and are constantly looking for ways to bypass the installed protection.

 

Precautions

The presence of a verification code does not give one hundred percent protection of a bank card. Many cardholders do not know that the code cannot be disclosed to third parties, and fraudsters take advantage of this. Only official dealers (online stores, electronic payment systems, terminals for financial transactions) can ask you to enter a three-digit secret code. Lets take a closer look at what the CVC2 code is for and in what cases it shouldnt be advertised. The most common mistakes made by cardholders that can lead to loss of funds:

  1. Never give the card in a restaurant, bar or cafe to the staff of the establishment. Either pay in cash, or close the CVC2 code. How to do it is described below.
  2. If you receive a message on social networks or by e-mail with a request to perform certain operations that involve entering a secret code, you can interpret this information as an attempt to gain access to your bank card.
  3. Never shop on questionable sites. Use renowned online stores.

Remember that the code is secret and only you, as the cardholder, can know and use it.

 

How to close a code from strangers using the CVC2 code

Not everyone needs the option to conduct financial transactions at a distance. Many do not use bank cards to shop online. Moreover, today there are electronic payment systems that have been created for these purposes. In this case, the CVC2 code is not needed, but it is still of interest to scammers. How can you hide your code from outsiders? There are several ways:

  • Order a card without a code. Such a function is available, it is enough to come to the bank and explain your desire to receive a card without a code, since you only need it for payments.
  • Use a marker or corrector to paint the code. It is enough to buy a black felt-tip pen and carefully sketch the three-digit number. A white corrector is also sometimes used. Your code will be safe even if you pay for dinner at a restaurant.
  • People who do not want to know what a CVC2 code is and do not want to use it will need a piece of opaque tape. Cut out a small piece and glue it on top of the code. The only drawback is the fragility of such a "seal".

In addition to the above methods to hide the secret code from strangers, there are several more options for how to do this. But the best way is to order a card without the code indicated on it.

Whether or not to use a bank card for payments on the Internet is up to everyone. After all, there are payment methods that are much safer. The same electronic payment systems do an excellent job with the function of payments on the Internet. Moreover, many cardholders simply do not know what this CVC2 code is for in the form of a three-digit number indicated on the back of the card.