Syndicate Bank Offering Free EMV Chip Based Debit Card – Public Sector Syndicate Bank has twitted a notification on their Official handle for blocking of Magnetic Strip card post 31st December 2018 with the reason of enhanced security concern on Debit Cards. They are further, issuing free of cost EMV Chip based Debit cards to all their customers.
Notification issued by Syndicate Bank in This Regard
1. As per RBI Guidelines, Card Holders having Magstripe Only Debit Cards should switch to more secure EMV-Chip Debit Cards.
2. In this regard, Magstripe Only Debit Cards that are expiring after 31st December 2018 will be blocked on 30 th September 2018.
3. Our esteemed Card holders, whose Debit Cards are expiring after 31st December 2018, are requested to approach their Home Branch and get their more secured EMV-Chip Debit Card “Free of Cost”.
4. EMV Chip cards and PIN will certainly bring in more security on your card transactions.