Soon All Banks Magnetic strips Debit cards will...

Soon All Banks Magnetic strips Debit cards will blocked

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Soon All Banks magnetic strips Debit card will blocked:

As per the RBI guidelines, you are required to change your Magstripe Debit Cards to EMV Chip Debit Cards by the end of 2018.

The Reserve Bank of India has instructed banks to shift from magnetic stripe based ATM and debit cards to EMV chip and Pin based model of cards to ensure protection of cards from cloning, skimming and other forms of frauds which can happen on a magnetic strip.

The POS terminal infrastructure in the country has been enabled to accept and process EMV Chip and PIN cards, the ATM infrastructure, on the whole, continues to process the card transactions based on data from the magnetic stripe. Contact Chip processing of EMV Chip and PIN cards at ATMs would enhance the safety and security of transactions at ATMs."

How will I know whether my Debit Card is a Magstripe Card?

A. You can identify your Debit Card as a Magstripe Debit Card if there is no Chip located on the face (centerleft
position) of the Debit Card.

How will I know whether my Debit Card is an EMV Chip Debit Card?
A. You can identify your Debit Card as an EMV Chip Debit Card if there is a Chip located on the face (centerleft
position) of the Debit Card.

What is an EMV Chip Card?
A. EMV Chip technology is the latest global standard for Debit Card payments. This technology features
Debit Cards with embedded microprocessor chip that store and protect cardholder data. This is a much
secure technology as compared to Magstripe variants of Card.

https://i.imgur.com/V16ydRS.jpg

17 Comments  |  
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Deal Subedar
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😉

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Deal Lieutenant
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End of 2018 mean end of 2019

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Deal Subedar
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Banks will get another excuse to charge us…

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Deal Cadet
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Sbi has still not changed my classic debit card to a chip card. I thought it was the responsibility of the bank to replace the card for the customer instead of expecting customers to apply in branch or net banking

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Community Angel
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What about Prepaid Cards like Pockets, Pesave, etc.?
TMW is already issuing personalized Chip Card.

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schumacher wrote:

Sbi has still not changed my classic debit card to a chip card. I thought it was the responsibility of the bank to replace the card for the customer instead of expecting customers to apply in branch or net banking

SBI already posted on twitter handler.

you can issue Free SBI EMV chip debit card without any extra charge, only for SBI Magnetic strips Debit card users.

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Deal Cadet
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SBI debited annual fee for my old mastro card also. Do you know how to stop this ?
@abhishek012

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_pb wrote:

SBI debited annual fee for my old mastro card also. Do you know how to stop this ?
@abhishek012

Block Old card from netbanking.
Reach out to your home branch & request branch manager to waive charge for discontinued card.
Its SBI bug that they issue new card without blocking old card & then charge for all running cards.
Same has happened with me too.

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_pb wrote:

SBI debited annual fee for my old mastro card also. Do you know how to stop this ?
@abhishek012

Maestro cards are now discontinued.

block your old card from SBI net banking and contact SBI they will waive off old card charges.

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Deal Cadet
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A2Zdeals wrote:

Block Old card from netbanking.
Reach out to your home branch & request branch manager to waive charge for discontinued card.
Its SBI bug that they issue new card without blocking old card & then charge for all running cards.
Same has happened with me too.

Thanks !! Blocked old card and added online Complaint.

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abhishek012 wrote:

Maestro cards are now discontinued.

block your old card from SBI net banking and contact SBI they will waive off old card charges.

Maestro card was good, why it discontinued?

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_One_Miller_ wrote:

What about Prepaid Cards like Pockets, Pesave, etc.?
TMW is already issuing personalized Chip Card.

I successfully used Pesave Prepaid card(without evm IC) for cash withdrawal.
Prepaid card working without evm IC chip also.
Not tried pockets card at POS.

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_One_Miller_ wrote:

I successfully used Pesave Prepaid card(without evm IC) for cash withdrawal.
Prepaid card working without evm IC chip also.
Not tried pockets card at POS.

Pesave discontinued after 31th march, 2019.

new pesave wallet will launch

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abhishek012 wrote:

Pesave discontinued after 31th march, 2019.

new pesave wallet will launch

Saand ki Aankh
T — Bull’s Eye

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_One_Miller_ wrote:

Maestro card was good, why it discontinued?

Maestro card company discontinued on year 2010.

only SBI issue till 2015.

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