New Delhi: State Bank of India (SBI) to block the old Magstripe Debit Card after a particular period of time. However, the last date to replace the card with EMV Chip Debit Card is 31st December 2018.
This decision was taken by the bank based on the guidelines of the Reserve Bank of India (RBI).
After getting the details whether the replacement card has been dispatched, account holders can apply for EMV Chip Debit Card if no new card has been issued. The bank customers can apply offline by visiting the bank branch or through internet banking (Click here).
In order to apply for the new card online, account holders can login with their internet banking user id and password. Then click on e-Services. Finally, click on “Request ATM/Debit Card” under ATM Card Services option.
It may be mentioned that no charges will be collected for the replacement of old Magstripe Debit Card with EMV Chip Debit Card.
It may be noted that the EMV Chip Debit Card can be recognized by the chip located on the card.