Alert: These debit cards of SBI will be closed from December 31, apply this way to change now

The country's largest bank has issued an alert for its account holders. State Bank of India (SBI) has announced that it will close many of its ATM cum debit cards after 31 December. In such a situation, the customer should immediately contact the bank to get the card replaced. If this is not done, then the transaction will be completely closed with the card currently running.

This card will be closed
SBI has said that it is going to stop using its current magnetic striped debit card. From January 1, 2020, only cards with EMV chip and PIN can be used. It is necessary to do so by the order of the Reserve Bank of India. As per the order, all banks operating in India have to stop using magnetic striped debit completely by the end of this year.

Banks have already received instructions from RBI to do so to avoid fraud. Most new customers are being given a debit card with EMV chip. Customers who have a debit card with magnetic stripe, customers will not be able to withdraw money after December 31.

This way cards can be changed
SBI has told its customers that there will be no charge for replacing the old card. Customers can also do this by changing the card to internet banking, Yono app or by visiting their branch. If there is any kind of charge from the customer, then he can also apply to get his refund.

Must know updated
However, the current address of the customers must be updated before applying the EMV card. This is because the new card will be sent to the registered address of the customer. If the address is wrong then the customer will not get the card and it will go back to the bank.