SBI asks their account holder’s to update debit card by December 31
New Delhi: Mon, 27 Aug 2018 07:18, by: Deepak Kumar

SBI, the largest Bank in India asked its customer to get EMV chip based ATM-cum-debit card by December 31. SBI will replace all old magnetic stripe based ATM-cum-debit card with new EMV based card before December 31.

Reserve Bank of India directed the Banks to issue only chip based debit and credits cards to their customers. Bank must enable PIN pin validation for credit and debits cards.
To comply with the RBI guidelines State Bank of India is issuing chip based cards to all its customers. Chip based cards is being issue to protect customers from frauds.

EMV stands for  ‘Europay MasterCard Visa’ and the EMV chip used in the card comes with the technologies to protect customer from counterfeit (skimming) frauds.

RBI Tweet said: "Dear Customers, it's time to make a shift. As per the 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".

SBI on its official website posted “magstripe debit cards which are in blocked state as on 28 February 2017 and to all such requests for blocking thereafter will remain blocked permanently.”, so all account holder having old stripe based card must apply for new EMV based cards.

SBI Account holders should visit www.onlinesbi.com with their username and password.  Then under eServices tab click on "ATM Card Services" and follow the steps to apply for new EMV based card.

If your card does not have a chip located on the top side its stripe based card and you should get it replaced with the EMV based card.

Other banks are also replacing stripe based card with the EMV based card for their customers.

  Author

Deepak Kumar - Editor

Deepak Kumar is Science Graduate from Delhi University with more than 17 years of experience in Media and Technical field. With a background in Science and Media field, Deepak has been offering services in the media houses. He has worked as director and chief in many companies. During his journalistic career, he has achieved many milestones working in various organisations. As a technical writer, he is of scientific bend of mind and has done many glorious stories in the field during the career.

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