Alert! These SBI Debit Cards will not work from January
Bhubaneswar: State Bank of India (SBI) has asked its customers to change their magnetic stripe debit cards to EMV Chip and PIN-based cards by December 31.
The magnetic stripe cards will be deactivated from January 1, 2020, irrespective of their validity period and they will be replaced by more evolved and secured EMV Chip and PIN-based cards, the bank said. Customers not in possession of an EMV Chip card can apply for it directly from their home branch. They can also apply on channels like net banking or SBI’s Yono App.
The process of changing the cards, is free but in case of charges are levied while applying on the channels, customers can request the home branch for refund presenting proof of the charges.
The bank has also requested its customers to update their present address before applying if it is different from the registered one as the card will be sent to the registered address only. As per information, several cases of fraud on magnetic-stripe cards compelled SBI to replace it with EMV Chips.