Magstripe SBI ATM cards are now getting blocked, How to get a new SBI Card (EMV chip)
Why SBI’s blocking ATM cards? :- Last year SBI was hit by a massive cyber attack. It put nearly 32 lakh debit cards at a risk of getting hacked. This malware had creeped into their server via a non-SBI ATM network. Therefore SBI had to immediately block about 6 lakh debit cards to reduce the damages.
Who are at risk and what to do?
If you are carrying a Magstripe debit card, then it is at a greater risk of getting blocked. To make sure that your card does not get blocked, you will have to upgrade your card to the EMV chip card as soon as possible.
How to know if my card is Magstripe?
To know if your card will get blocked you will have to check for the Magstripe (or EMV). There is a chip secured at the front of the card usually in the EMV cards. If there is no such chip on your card then it is a Magstripe.
Magstripe cards have a broad black magnetic stripe at the back. This black area needs to be swiped at the EDC machines to process the information and complete the transaction. The black area is made up of magnets which store all the banking related information.
The Magstripe cards, once blocked, will remain blocked forever. If your card is already blocked, then also you have to apply to the bank to get the latest EMV chip card. You can get it via internet banking or look at the nearest bank branch for it.
How will I come to know my card is blocked?
Banks are sending messages to the card holders telling them about this new policy. If they are blocking someone’s card, they are sending the card holder a message about it. Also, the message contains a link where you can apply for the replacement card.
www.onlinesbi.com is the link where you can apply for the replacement card in case it is blocked. No additional cost is incurred in getting this card.
How to get the card online?
- Login with your user name and password at onlinesbi.com and then take your mouse to the “eServices” tab on the menu.
- On this tab you will find a link called “ATM card services”. You have to click here and then follow the instructions that are shown on screen.
- Upon successful completion of the application, you will be shown a message on screen and then you have to wait for the card to reach to your address.
You can also visit your nearest bank branch to obtain the card offline.
All cards which have been blocked since 28th February 2017 shall remain blocked.
The last date for all banks and white label ATMs to complete the switch to EMV cards is – 30th September 2017.
Benefit of choosing EMV chip cards
The EMV chip technology has to comply with the standards of MasterCard or Europay or Visa (EMV). Therefore it is much safer as the encryption is trickier to crack in this form of card.