Old SBI ATM Cards Will Be Invalid; Steps To Apply For EMV Chip-Based Cards

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Days later a piece of news started doing rounds, that the Reserve Bank of India (RBI) has asked all the banks to replace their customers’ magstripe based old ATM cum debit cards with new EMV chip-based ones. An EMV chip debit card comes with the chip located on the face on the left side of the debit card.

Since this information is very crucial to reach the bank account holders of India State Bank of India (SBI) has initiated to inform the account holders about this new change. The bank has been asking its customers to replace their old magstripe based ATM/debit cards, if they have any, with the EMV chip-based card.

Make sure that no one makes a fool out of you by charging for the new EMV based debit cards as in actual there are no specific charges to be or replace your card with the EMV based one. Also, according to SBI, there will be no change in the annual maintenance charges as compared to magstripe based card.

Here is a step-by-step guide to replacing your old ATM cum debit card:

Net-banking
– Firstly visit the official site of the bank which is www.Onlinesbi.com
– After you land on the bank’s official page, do log in to your account by using your very own user ID as well as password.
– Then click on the e-services tab displayed on the screen.
– From the drop-down menu, select the ‘ATM card services’, then select the option, ‘Request ATM/Debit Card’.
– A new page will appear on your screen. Select the savings account for which you wish to receive the new ATM card. Enter the name which has to be printed on the card and select the type of ATM card you wish to receive from the drop-down menu.
-The last step is to click on the Submit button, after which a whole new EMV-based ATM card will be sent to your home address. It will be delivered to your house within 7 working days.

Your bank’s home branch
If you somehow don’t have access to Internet banking, then you will have to visit your local bank branch where you are holding your bank account to apply for the new EMV chip-based card. You just need to fill the form and submit at the bank’s branch. The ATM card will be sent to your home address within 7 working days as already mentioned above.

According to the RBI circular, dated August 27, 2015, the last date to comply with this order is December 31, 2018. Post the expiry of deadline all the magstripe based cards will become inactive. So hurry everyone!

Source1                        Source2

 

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