The last day of the year is also the last one on which SBI(State Bank of India) customers would be able to apply for a free replacement of their bank’s magnetic stripe card. The customers can avail a new EVM chip-based card in replacement.
On December 29 SBI, in a tweet, had shared to its customers that “As per RBI mandate” they must replace “Magstripe Card with the EMV Chip Card” to continue the debit card facilities. The facility is available for no cost if the customers apply by 31st December 2018, the bank added.
Get the ultimate shield! As per RBI mandate, replace your Magstripe Card with the EMV Chip Card and continue availing debit card facilities. Apply before 31st December 2018 and get it for free.#SBI #StateBankOfIndia #StateBank #Switch2EMV #SBIEMV #BankerToEveryIndian pic.twitter.com/hQF5vLropD
— State Bank of India (@TheOfficialSBI) December 29, 2018
When a customer replied SBI asking for the procedure, the bank told that replacements to the cards can take place through multiple channels such as Internet Banking, Yono App and the Home branch of the bank.
Dear Customer, please note as per the RBI guidelines, you are required to change your Magstripe Debit Cards to EMV Chip Debit Cards by the end of 2018. The conversion process is absolutely safe and comes with no charges. To avoid last minute rush, you may please get it (1/2)
— State Bank of India (@TheOfficialSBI) December 31, 2018
Get the ultimate shield! As per RBI mandate, replace your Magstripe Card with the EMV Chip Card and continue availing debit card facilities. Apply before 31st December 2018 and get it for free.#SBI #StateBankOfIndia #StateBank #Switch2EMV #SBIEMV #BankerToEveryIndian pic.twitter.com/hQF5vLropD
— State Bank of India (@TheOfficialSBI) December 29, 2018
The bank also gave a link to the FAQ page for the card exchange.
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