ATMs now have a new security feature; here's how to use these machines

ATMs now have a new security feature; here's how to use these machines

With the introduction of EMV chip cards, the ATMs have been upgraded too in order to make use of the upgraded security features of new debit cards.

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BusinessToday.In
  • Jan 12, 2019,
  • Updated Jan 12, 2019 7:06 PM IST

If you have been to an ATM during the past couple of weeks, you might have noticed that something has changed. Some of you might have had your ATM cards fixed in the card slot till the transaction is complete. The reason behind this is the new EMV chip cards which you have heard about in the past few months.

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On orders from the Reserve Bank of India, banks had asked their customers to mandatorily upgrade their older magstripe cards to EMV chip cards by December 31, 2018. Debit and credit cards without the EMV chip have stopped working from January 1, 2019.

The central bank has favoured EMV chip cards for digital transactions due to the additional security they offer in the form of dynamic authentication which makes the card immune to ATM scams like phishing. With these new cards in operations, ATMs have been upgraded too to utilise the EMV chip on debit cards for more secure transactions.

Complete the transaction, after which the LED will turn green. Now you can take out your card.

There might be some ATMs which have not been upgraded yet. In this case, insert your ATM card and take it out after the machine reads it, like you used to before.

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As for the people who are still using magstripe cards, they might find that their card does not work at ATMs or card machines anymore. This means the card has been permanently blocked by the bank, and they need to contact their home branch for a new EMV chip card.

If you have been to an ATM during the past couple of weeks, you might have noticed that something has changed. Some of you might have had your ATM cards fixed in the card slot till the transaction is complete. The reason behind this is the new EMV chip cards which you have heard about in the past few months.

Advertisement

On orders from the Reserve Bank of India, banks had asked their customers to mandatorily upgrade their older magstripe cards to EMV chip cards by December 31, 2018. Debit and credit cards without the EMV chip have stopped working from January 1, 2019.

The central bank has favoured EMV chip cards for digital transactions due to the additional security they offer in the form of dynamic authentication which makes the card immune to ATM scams like phishing. With these new cards in operations, ATMs have been upgraded too to utilise the EMV chip on debit cards for more secure transactions.

Complete the transaction, after which the LED will turn green. Now you can take out your card.

There might be some ATMs which have not been upgraded yet. In this case, insert your ATM card and take it out after the machine reads it, like you used to before.

Advertisement

As for the people who are still using magstripe cards, they might find that their card does not work at ATMs or card machines anymore. This means the card has been permanently blocked by the bank, and they need to contact their home branch for a new EMV chip card.

Read more!
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