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iTrade access code without having another Scotiabank account?
February 7, 2023
9:10 pm
Jeff Landry
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I opened an iTrade account and learned I need an access code to make each transaction/trade. I don't have another Scotia account or bank card with access code. iTrade online banking shows an option to create an access code, but it doesn't work.

When I call in I am given temporary access codes but told inconsistent things about getting a permanent code. One agent said I should be able create one online but functionality is currently broken. Another agent said I can only get a permanent code by going to a Scotia branch and getting a bank card, which I can supposedly get with an iTrade account and no other bank account. iTrade will then link that card and access code to my brokerage account.

Has anyone done this?

February 8, 2023
6:57 am
AltaRed
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You should not need to have an ATM/debit card to create a trading access code which would be unique to iTrade trading (nothing to do with a 4 digit PIN). A bank debit card has nothing to do with this Access code. The purpose of such a code is another layer of security protection to prevent a hacker, should the hacker get into the account, being able to make trades.

A person logically should not be able to create one online as that would defeat the purpose of this extra layer of security. I would phone iTrade back and ask the CSR to walk you through creation of this Access code and if that does not work, ask for their Security folk and/or IT folk.

February 8, 2023
7:29 am
Norman1
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Scotia iTRADE clients don't need a Scotiabank bank account to receive a bank card.

Those who only have iTRADE accounts, like me, are issued a Scotia iTRADE bank card instead of a Scotiabank bank card.

If that numeric access code (trading password) needs to be associated with a bank card, then the access code can be associated with that Scotia iTRADE bank card.

If one just opened the iTRADE account, perhaps the Scotia iTRADE bank card is on its way?

February 8, 2023
8:15 am
AltaRed
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I agree with Norman, but I don't see why that iTrade card would be needed to set up a trading access code. It is not a 4 digit PIN. However, that may well be the glitch.

Like Norman, I originally got a Scotia iTrade account without having a Scotiabank bank card. I received a Scotia iTrade card instead. That was way back in the Cretaceous period when I actually had an E*Trade Canada brokerage account and Scotia bought it and eventually morphed it into Scotia iTrade.

February 8, 2023
5:34 pm
moveyourmoney
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Jeff Landry said
I opened an iTrade account and learned I need an access code to make each transaction/trade. I don't have another Scotia account or bank card with access code. iTrade online banking shows an option to create an access code, but it doesn't work.

When I call in I am given temporary access codes but told inconsistent things about getting a permanent code. One agent said I should be able create one online but functionality is currently broken. Another agent said I can only get a permanent code by going to a Scotia branch and getting a bank card, which I can supposedly get with an iTrade account and no other bank account. iTrade will then link that card and access code to my brokerage account.

Has anyone done this?  

Jeff,
Hate to be negative, but I’ll give you my advice…find another institution to deal with. Both of those are terrible. I had both, moved away from both. All good until you need them to do something beyond everyday trading or banking. You’ll know what I mean when it happens.

February 9, 2023
9:13 pm
Jeff Landry
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Thanks everyone for the useful advice. Now that I know there is such a thing as a Scotia iTRADE bank card I will try to get one and see if that breaks the impasse. I certainly haven't received one in the mail since opening the account in the third week of January.

March 27, 2023
7:55 pm
Jeff Landry
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For posterity, I should follow up in case it helps anyone else.

If you have an iTrade account but no Scotia bank card, to create a permanent access code for trading you can use secure messaging to ask to have a password (e.g. mother's maiden name) input as your 'temporary' permanent access code. You will be told to wait a few days for it to process, after which time you can use the iTrade website option to change to a proper permanent access code.

It worked for me and meant I didn't need to get a bank card. I'm not sure if there's any other reason to get an iTrade bank card.

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