If you are a customer of India's largest bank, State Bank of India (SBI), and you still have an ATM-cum-debit card with a magnetic stripe, you need to get them replaced as soon as possible. The bank is replacing these cards with more secure chip cards. The bank has given customers another chance to replace old cards. SBI has asked its customers to change their magnetic striped ATM cum debit cards before 31 December 2019 to get EMV chip bearing and PIN-based SBI debit cards.

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If you do not get your magnetic chip cards replaced by 31 December 2019, then these cards will be deactivated despite the validity time remaining. The bank has given this information to customers by tweeting. The State Bank of India is replacing its customers' magnetic stripe cards with EMV chip and PIN-based cards as per the guidelines of the Reserve Bank of India. SBI said in a tweet, 'Customers should apply to their home branch before 31 December 2019 to replace their magnetic striped debit cards with a more secure EMV chip and PIN with an SBI debit card.'

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Apply now to change your Magnetic Stripe Debit Cards to the more secure EMV Chip and PIN based SBI Debit card at your home branch by 31st December, 2019. Safeguard yourself with guaranteed authenticity, greater security for online payments and added security against fraud. pic.twitter.com/t9K3TiGTad

— State Bank of India (@TheOfficialSBI) November 30, 2019

The process of changing this card is completely free for customers. SBI tweeted in another tweet, 'Dear customer, Magnetic Stripe Card Replacement is completely free. It is available online or at your home branch. You can apply for the card at the branch and if charged, request a proof with the branch for refund. '

Customers can also apply for a chip-based card through internet banking. The thing to keep in mind here is that your existing address should be updated from your account, as the card will only be sent to the registered address. Let us know how to apply for the chip-based card online-
1. First, log in on the SBI website.
2. Now select ATM Card Services from eServices.
3. Now click on Request ATM / Debit Card.
4. Now select the option of Validate and click on OTP.
5. Enter OTP.
6. Now select the account and fill in the required details.
7. Click on Term & Conditions and click Submit.

After submitting, a message will appear on your screen saying, 'Your debit card will arrive at your registered address in 7 to 8 working days.'

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