According RBI Guidelines from 1 January 2019. If any one had EMV Chip ATM Card it will work. If not will be blocked by bank.
All people will have to Check the ATM card whether it has an EMV chip or not, EMV chip card secures its debit card or credit card and hence the Reserve Bank has ordered all the banks.
Now that EMV chip ATM cards are issued, because the old ATM Card does not have Magnetic Strip, then let us know it in detail.
If Your Debit Card Blocked You can Do Online Shopping
If the card is blocked, your online shopping will not be affected. If you want to do online shopping, Reserve Bank of India has asked the old debit credit card to replace EMV Chip Best Card by December 31, 2018.
What is EMV-ATM Card
EMV is actually a payment method, which is based on technical standard for smart payment card, stores the data of EMV card in the integrated service provided by it, besides the specialty of this key is that it supports NFC, which is the basis of below field communication. . Under this, it works from a distance. EMV support cards are called chip and pin cards.
Frauds can be prevented from the EMV chip.
EMV chip cards are difficult to clone.
EMV chip cards have strong encryption.
How to know if your ATM card is an EMV chip or not ?
It’s easy enough if a small chip is on a debit or credit card, then your card will not be blocked. If your ATM Card is not chip then your card will be blocked This chip is usually in the left side of the debit credit card.
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