According to the new guidelines of RBI generated to all the banks, the banks have to replace their customer ATM old cards which are using magstripe with new EMV(Europay, MasterCard, Visa) based chip cards. This guideline was released on August 27 2015, with a deadline of December 31 2018, after which all the magstripe based card will become expired. No transaction can be processed from the magstripe based card after that period. SBI the biggest bank in India asking their customer to replace their card with a new chip-based Debit card as this is the new global standard for Debit card transaction.
How to identify that your card is chip-based or not?
The card which is utilizing the chip-based technology will have a chip placed on the face of it. The location of the chip in the card is in the center-left of the card. This chip is having a microprocessor which is a very secure way of the transaction as compared to the magstripe based card.
How to apply for EMV chip-based card?
There are two methods for applying for the EMV-based debit card-
- Online net banking
- Visiting the home branch
Online net banking
You can apply for the chip based card for the replacement of your old card by following the steps below-
Step-1 Visit the official website of SBI i.e.www.Onlinesbi.com
Step-2 Log-in to your account by entering your ID and password
Step-3 Click on the e-services tab and select the ATM Card services option.
Step-4 Now select the Request ATM/Debit Card
Step-5 A new window will open appear to select the savings account you want to receive the ATM Card for followed by a name which will be displayed on the card and the type of card you want.
Step-6 Click on the submit button. The new ATM card will be sent to your home address within 7 days.
Visiting the home branch
You can also visit your bank branch where you have your account maintained. Here you can apply for the new EMV based ATM card by filling out the form and submitting it to the bank. The bank will send the ATM card to your home address within 7 days after the application is submitted.
Check the article on “how to generate SBI ATM pin“
