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Two-step verification process for Small Business
Two-step verification process for CIBC Banking
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How it protects you
What’s new?
An extra layer of security
Before you complete a sensitive transaction that requires greater protection, you will be prompted to enter a one-time verification code.
After your password, it serves as a second check to make
sure it’s really you accessing your account.
No more personal verification questionsDon’t worry about having to remember the answers to your personal verification questions anymore. The one-time verification code replaces them.
Unique verification codesA new 6-digit one-time verification code is generated for each sensitive transaction, but you’ll only be prompted to enter the code once during your CIBC Banking session.
Each code is unique to you, and you will never be contacted and asked to reveal the code over the phone.
The following sensitive transactions may prompt the two-step verification process:- Adding a new Interac e-Transfer® recipient
- Updating your contact information
- Adding select payees*
- Large bill payments
- Resetting your forgotten password
Why you need it
If someone gets access to your account, they won’t be able to:
Change your contact information
Transfer money out of your account to theirs
Make unwanted transactions
The two-step verification process forces a second layer of security so that even if someone accesses your account, they won’t be able to make any changes or complete large transactions without a second check.
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How it works
Follow the simple steps
Completing a sensitive transaction in CIBC Banking takes 2 steps:
1. Select your contact method
Choose to receive the code via text message, email or voice call. Select your option from the dropdown menu.
Note: For account security, we’re no longer sending one-time verification codes to personal or free email services.
2. Enter your one-time verification code
Once you receive the code, enter it into the box to complete your sensitive transaction.
How can I receive the code?
Text Message / Email
Get the one-time verification code via text message or email (excluding personal and free email services). They’re the most convenient ways to receive the code. It arrives instantly, and is easy to access when you’re travelling.
Voice callsIf receiving a phone call is more convenient for you, you can receive the one-time verification code via voice call. Make sure we have all of your numbers on file so you can choose which one suits you better.
Is there another way to receive the code?
If you don't have access to the required business contact methods to receive the code, there's another option:
1.Call Telephone Banking
Receive a 6-digit temporary password.
2.Enter the 6-digit temporary password
Once you receive the password, enter it into the box to complete your sensitive transaction.