On every plastic bank card, you’ll find a set of details required for its use. This includes the 16-digit card number, expiration date, cardholder’s name and signature, and a three-digit code labeled as CVC or CVV, depending on the payment system. Let’s dive into what this code is, where to find it, and in what scenarios you might need it.
What is CVC or CVV?
CVC (Card Verification Code) or CVV (Card Verification Value) is a three-digit security code located on the back of the card, near the signature panel. For different payment systems, this code may have slightly different names, such as CVC2 or CVV2. Each card actually has two such codes:
- The first code is stored within the chip or magnetic stripe and can only be accessed by banking equipment.
- The second code, printed on the back of the card, is used for online transactions.
When people refer to the CVC or CVV code, they typically mean the second code printed on the back of the card.
What Are These Codes For?
CVC and CVV codes act as verification codes or security codes. Their primary function is to confirm the authenticity of the card and provide additional protection during online payments, purchases, and transfers. Unlike in-store or ATM transactions, where a PIN code confirms your identity, online transactions require a different verification method—and that’s where the CVC or CVV code comes in. It serves as an online equivalent of the PIN.
When You Can and Cannot Share the CVC Code
CVC and CVV codes are confidential and should only be known to the cardholder. Never share these codes with strangers, as they could use this information to make unauthorized transactions or withdraw funds from your account.
You may need to provide the CVC code in the following scenarios:
- Online purchases
- Topping up an online wallet
However, CVC codes are not required for:
- Receiving incoming bank transfers
- Verifying your identity during bank calls
How to Use CVC Codes
During online payments, you’ll be redirected to a secure payment page. Here, you’ll need to fill out a form with the following details:
- Card number
- Expiration date
- Cardholder’s name
- Three-digit CVC code
In some cases, the bank may add another layer of security by sending you a one-time password via SMS or push notification to complete the transaction.
Is CVC Always Needed?
While CVC codes are typically required for online transactions, there are exceptions. Some merchants might not request the CVC and rely solely on an SMS or push notification for verification. This highlights the importance of safeguarding not only your CVC code but also the information printed on the front of your card.
Security Measures
To protect your funds and ensure safe online transactions, follow these precautions:
- Do not share your card details: Never share your card number, expiration date, or CVC code with anyone.
- Avoid sending card photos: Do not send photos of your card, especially the back side, through email or messaging apps.
- Be cautious of scam calls: Real bank employees will never ask for your CVC code. If someone claiming to be from your bank asks for it, hang up and call your bank directly.
- Act quickly if your card is compromised: If you lose your card or suspect unauthorized access, contact your bank immediately to block the card and request a replacement.
By understanding how to use CVC codes responsibly and taking necessary precautions, you can safeguard your financial information and prevent fraud.
