Attention SBI account holders; ATM cards may stopped working soon, here’s why
FINANCE | DEC 7, 2019:
Some of the SBI debit atm cards will be deactivated and will stop working. According to SBI, as per RBI guidelines, SBI has replaced all Magnetic Stripe Debit Cards of its customers with EMV chip & PIN based cards.
In view of the continuing frauds on Magnetic Strike Cards, it is proposed to deactivate these cards by 31.12.2019. (irrespective of the validity of the card).
SBI in tweet said, "Apply now to change your Magnetic Stripe Debit Cards to the more secure EMV Chip and PIN based SBI Debit card at your home branch by 31st December 2019. Safeguard yourself with guaranteed authenticity, greater security for online payments and added security against fraud."