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Magnetic stripe Card will not work from today

From today the card with magnetic stripe will not work, 

such replace the old card.

For the new card, customers will have to go to the bank taking their passbook and fill out a form.

The first was the currency of the cache. Change the time and changing cards used to replace the cash in the changing times. Now there is no need to go to the bank to withdraw money. There are ATMs in place. The card is being used for shopping at every big shop. In such a situation, the security of the card is very important. Therefore, with the changing times, keeping the debit card and credit card data safer is important. That is why the old magnetic stripe card has stopped working from today. From today onward, only the chip card will work.

Magnetic stripe Card will not work from today

The guidelines issued by the Reserve Bank of India for replacement of Magnetic Stripe cards with EMV (Europe, MasterCard and Visa) chip cards were issued by December 31, 2018. The RBI believes that the risk of fraud from the new EMV card will be very low. State Bank of India has also tweeted that before December 31, you have changed your card.

How will the card change?
According to the information tweeted on behalf of the bank, the old ATM card is being replaced by EVM Chip Debit Card. For this, customers will have to go to the bank taking their passbook and fill out a form. After this they can take a new and safe card. People who use internet banking can also apply for a new card online. Apart from this, there is an option to apply online by visiting the branch of the bank.

What is the difference between the two cards?
If your debit or credit card does not have a SIM card like the SIM card in front of the front, on the front side, then this is the oldest, ie the magnetic stripe card. The cardholder's signature or PIN is needed for this card to be transacted. There are details of your account on this. With the help of this stripe, the machine joins your bank interface at the time of swiping the card and the process moves forward. At the same time, the whole information in the chip card is present in the chip. These also require pin and signature for transaction, but, in the EMV chip card, a unique transaction code is generated to authenticate the user during transaction, which supports verification. Such a magnetic stripe does not happen in the card.

Will not look any fees
If you are a customer of SBI, then it is important for you to change your card soon, because SBI is blocking the magnetic stripe ATM. The bank has also issued notification for replacing old magnetic stripe card with chip card for its customers.

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