Latest News

  • Home
  • National
  • SBI customer? Your debit card will stop working unless you do this
SBI customer? Your debit card will stop working unless you do this
Tuesday, August 14, 2018 IST
SBI customer? Your debit card will stop working unless you do this

The State Bank of India has informed its debit cardholders to get their old Magstripe Debit cards replaced with EMV Chips Cards before 31st December 2018, owing to security reasons.

 
 

Are you an SBI debit card holder? Here’s an important update for you. The State Bank of India has informed its debit cardholders to get their old Magstripe Debit cards replaced with EMV Chips Cards before 31st December 2018. Owing to security reasons, the bank has blocked this card permanently. The replaced EMV Chip Debit Card will be issued free of cost and there will be no annual maintenance charge.
 
SBI has issued a notice for its customers on its official website informing that all the Magstripe Debit Cards which are in a blocked state as on 28-Feb-2017 and to all such requests for blocking thereafter will remain blocked permanently. Free EMV Chip Cards will be issued to the holders of Magstripe Debit Cards. The affected cardholders are advised to apply for replacement EMV Chip Card through internet banking( onlinesbi.com) or by approaching their home branch. Customers after logging in go to “eServices tab then click on “ATM Card Services” and follow instructions in order to get a new debit card issued.
 
Consequently, customers failing to do so will not be able to use their debit card in SBI ATM machines beyond the given date. The move to change the debit cards supported with EMV chip is as per the RBI guidelines. The bank informed its customers about this on twitter as well.
EMV Chip technology is the latest global standard for Debit Credit payments. The debit cards are lashed with a microprocessor chip which stores and protect cardholder data. One can identify their debit card as a Magstripe Debit Card if there is no Chip located on the face of the Debit Card.
 
The bank has clarified that there is no way to unblock the Magstripe Debit card and the only option is to switch to the EMV chip debit cards.
 
Earlier, SBI had launched a Multi Option Payment Acceptance Device for the digital convenience of customers and merchants. Customers can make payments through “ Cards, Bharat QR, UPI and SBI buddy ( e-wallet) on a single POS terminal” using MOPAD. This payment acceptance device aims at helping merchants to integrate different kinds of transactions through one POS machine which will help in eliminating their operational inconvenience and streamline cash flow.
 
In order to empower the economy towards digital transactions and move towards less-cash economy, the bank’s initiative has been to empower the merchants and customers. This new initiative will begin on all PoS terminals in a phased manner with 6.23 lakh PoS terminals being deployed currently.
 

 
 
 
 
 

Related Topics

 
 
 

Trending News & Articles

 Article
Here is the full list of 827 porn websites banned by the DoT

While the Uttarakhand High Court has asked to block 857 websites, the Ministry of Electronics and IT (Meity) found 30 portals without any pornographic content. ...

Recently posted . 61K views . 1 min read
 

 Article
Class XII Boys Raped 16-Year-old in Dehradun School After Watching Porn on Phone: Police

The four boys as well as five school officials, including the director and principal, were arrested after the incident. The minors were presented before the Juvenil...

Recently posted . 8K views . 1 min read
 

 Article
Sept 27,2001 Rahul Gandhi and his girl friend Veronique,was arrested in Logan airport in Boston

Rahul was having an Italian passport and was carrying suitcase full of dollars. Some say it was about was it $2 million. Rahul and his girl friend was th...

Recently posted . 7K views . 7 min read
 

 Article
TOP 10 GYM EQUIPMENT BRANDS IN INDIA 2017

True – Tr...

Recently posted . 6K views . 83 min read
 

 
 

More in National

 Article
Biriyani from Kerala jail to go online

Seeking to tap the hugely popular online food market, prison authorites in Kerala on Thursday began offering piping hot biriyani prepared by jail inmates.

Recently posted. 621 views . 1 min read
 

 Article
The Hindu explains: The Fugitive Economic Offenders Bill, 2017

After the Nirav Modi–PNB fraud worth more than ₹12,000 crore, the Union Cabinet has approved the Fugitive Economic Offenders Bill, 2017.

Recently posted. 585 views . 1 min read
 

 Article
Jammu and Kashmir Police seizes 14 mobiles from Baramulla jail; prisoners utilized them to stay in contact with Pakistan

Srinagar: The Jammu and Kashmir Police on Sunday appropriated 14 mobiles from a sub-imprison in Baramulla locale of Kashmir which was purportedly being utilized b...

Recently posted. 692 views . 18 min read
 

 Video
Amazing Facts About Dubai



Recently posted . 1K views
 

 Photo
Highest Civilian Award Of India



Recently posted . 1K views
 

 Reviews
Top 10 Schools in Noida



Recently posted . 2K views . 57 min read
 

 Reviews
Top 10 financial services companies in India



Recently posted . 1K views . 31 min read
 

 Article
Kashmir encounter: Two terrorists killed in Kashmir's Baramulla

Srinagar: Two terrorists were killed on Wednesday in a gunfight with security forces in the Kashmir Valley. Police said the Rashtriya Rifles, the Special...

Recently posted. 610 views . 4 min read
 

 Article
Demonetisation: I-T dept to strictly take on depositors of unverified cash over Rs 5 lakh

New Delhi: Depositors of money worth Rs 5 lakh or above, amid the demonetisation time frame, who neglected to confirm a similar will be gone up against entirely by ...

Recently posted. 512 views . 4 min read
 

 
 
 

   Prashnavali

  Thought of the Day

मुस्कराना जिन्दगी का वो खुबसूरत लम्हा है, जिसका अंदाज सब रिश्तो से अलबेला है जिसे मिल जाये वो तन्हाई में भी खुश और जिसे ना मिले वो भीड़ में भी अकेला है
Anonymous

Be the first one to comment on this story

Close
Post Comment
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST


ads
Back To Top