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…So soon change your SBI ATM card, otherwise it will not work

Saturday - August 11, 2018 3:58 pm , Category : WTN SPECIAL

Magstripe Debit Cards will not work after December 31

AUG 11 (WTN) - Now an important news for you. If you have an account in State Bank of India (SBI), then Indeed, SBI is going to close its old ATM card i.e. that Magstripe (magnetic) debit card/ATM card soon. According to the RBI guidelines, SBI has written on its official Twitter handle, “Dear Customers, it’s time to make a shift. 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 conversion process is absolutely safe and comes with no charges.”

It has been said from the bank that the conversion process of the debit card is completely secure and the customer will not have to make any payment for it. That is, the customers, who have SBI's oldest Magstripe Debit Card, can convert it from EMV Chip Debit Card to 31 December 2018.

The bank has made it clear that if SBI customers would not change their card till December 31, 2018, then no work would be possible from the old ATM. Not only that, after 31st December, SBI's old ATM Cars will not be accepted any bank's ATM machine.

You can apply online for new EMI Chip Debit Card or by visiting your home branch. For your information, let you know that SBI has discontinued the old card from February 2017. On 31 December 2018, old Debit Cards are being completely closed from the bank.

There is a black strip, behind the old Magstripe Debit Card, this is a magnetic strip, in which the full information about your account is recorded. After swapping it in the ATM, you can make any transaction after entering a four digit PIN. Now instead of this black strip, the EMV chip will be inserted, Which will have the complete information about your account.
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