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Old SBI ATM/Debit Cards To Be Deactivated By 31 December

Staff

In the light of multiple reported card skimming frauds, the State Bank of India (SBI) has asked its customers who are still using magnetic stripes ATM cards, to switch to the more secure chip ones at their home branches. The public lender further said in a tweet that it has been proposed to deactivate magnetic stripe cards by 31 December 2019.

"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," the tweet said.

Magstripe card replacement is a free of cost service and available online or at home branches. As per RBI (Reserve Bank of India), all cards magnetic strip cards are required to be replaced with EMV Chip cards by the end of 2019.

How to apply for SBI's Chip-Based EMV Card online?

If you cannot visit your home branch, you can apply through SBI's Internet Banking.

Login to www.onlinesbi.com and under the "eServices" tab, click on "ATM Card Services" and follow instructions.

Ensure that your current mobile number and address is registered with the bank. The new card will be posted to your registered postal address.

You should ideally receive the card 7 to 8 days after applying.

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