New Delhi: State Bank of India (SBI) has asked its customers to change their magstripe ATM-cum-debit cards by 31 December 2018. SBI is issuing new EMV chip debit cards to its customers for free. For card replacement, SBI customers can visit their home branch or apply online through internet banking. The SBI advisory to its customers asking them to replace their cards is in line with the RBI directive that all magstripe cards will have to be exchanged with EMV chip cards by the end of this year.
The existing debit and credit cards are magnetic stripe-only cards. Their cloning has become a major challenge to those responsible for safe monetary transaction. The new cards are EMV chip-based.
We're replacing ‘Magstripe Debit Cards" with more secure ‘EMV Chip Debit Cards", free of cost. Switch to an EMV Card today. Last day to upgrade your Debit Card: 31st December 2018. For more information, visit https://t.co/Wk2SRPRKXt#Switch2EMV #SBIEMV #SBIDebitCard #EMVChip pic.twitter.com/D6Wxaohd5F
— State Bank of India (@TheOfficialSBI) December 13, 2018
How to apply online for new SBI debit cards
1. If you have an online banking facility with SBI, log in to its website (www.onlinesbi.com) using user id and password.
2. Thereafter, under ‘eServices’ tab, click on ‘ATM Card Services’.
3. Select the ‘Request ATM/Debit Card’ option from the list.
4. A new page will appear on your screen. Select the savings account for which you wish to receive the new ATM card. From the drop down menu, select the type of ATM card you wish to receive.
5. Click on the submit tab. A new ATM card will be sent to your home address within seven working days.
6. The internet banking service can be availed between 8 am and 8 pm only.
