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

8 Comments  |  
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Deal Cadet
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What about Sodexo card?

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Deal Subedar
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😉

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Deal Subedar
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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

Img 20180820 174730
Deal Subedar
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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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