THE PAVILIONS PHUKET BRITISH INTERNATIONAL SCHOOL, PHUKET
THE PAVILIONS PHUKET BRITISH INTERNATIONAL SCHOOL, PHUKET Kata Rocks
The Phuket News Novosti Phuket Khao Phuket

Login | Create Account | Search


Bank of Thailand warns ATM cards with only magnetic strips not usable after Jan 15

Bank of Thailand warns ATM cards with only magnetic strips not usable after Jan 15

BANGKOK: The Bank of Thailand has advised holders of debit cards and ATM cards with only magnetic strips to use chip cards instead, as transactions via ATMs or card-swiping machines, will no longer be possible after Jan 15, 2020.

economics
By National News Bureau of Thailand

Thursday 19 September 2019, 02:56PM


ATMs and card-swiping machines will no longer recognise debit cards and ATM cards with only magnetic strips after Jan 15, 2020. Photo: NNT

ATMs and card-swiping machines will no longer recognise debit cards and ATM cards with only magnetic strips after Jan 15, 2020. Photo: NNT

Sirithida Phanomwan na Ayutthaya, an Assistant Governor of the Bank of Thailand in the Payment Policy and Financial Technology section, said yesterday (Sept 18) that the use of chip cards provides more safety assurances than debit or ATM cards and prevents the use of fake cards which might contain data from stolen debit or ATM cards via ATMs.

Since 2016, the Bank of Thailand has cooperated with the Thai Bankers Association and other financial institutions to encourage the use of chip cards instead of debit or ATM cards with magnetic strips, to be on par with international standards.

All debit cards and ATM cards are expected to be replaced by the end of this year since they will no longer be usable at ATMs or card swiping machines after Jan 15, 2020.

According to financial institutions, about 47 million chip cards are currently in use, while about 20mn magnetic-striped cards are currently used nationwide.

The Bank of Thailand has called on the holders of debit or ATM cards with magnetic stripes to contact any branch of their bank to change their cards by producing their ID card, debit or ATM card and bank account book.

No service fee is charged.

Those who don’t change their magnetic-striped cards to chip cards will no longer be able to use them with ATMs or card swiping machines after Jan 15, 2020, the central bank warned.

However, they may still withdraw or transfer money at a bank or transfer money using mobile or internet banking.

 

Read original story here.

Comment on this story

* Please login to comment. If you do not have an account please register below by simply entering a username, password and email address. You can still leave your comment below at the same time.

CAPTCHA

Be the first to comment.

Have a news tip-off? Click here

 

Phuket community
‘Thailand’s tourism industry doomed if we don’t embrace nature’, Bensley tells TTF 2020

@Timy. I agree.Finally you got it right.I hope your message reaches all those K's outside there....(Read More)


‘Thailand’s tourism industry doomed if we don’t embrace nature’, Bensley tells TTF 2020

@Timothy ....and your post was relevant to the Thai Tourist Industry how? You didn't even menti...(Read More)


All arrivals from China now screened at Phuket airport

In Phuket it is NOT possible to buy face mask and antibacterial gel / soap does not exist on the ent...(Read More)


All arrivals from China now screened at Phuket airport

Thermo scanning is useless when it is mend as precocious Thai National health security action. 2 Pa...(Read More)


C130 aircraft on standby for Wuhan evacuation

4 Aircrafts to pick up 64 thai? Is this a shopping trip planning? Air force is ready, but Officials...(Read More)


Discovery of fifth case in Thailand ‘shows screening effective’

China warns: Virus can spread before symptoms appear. It's going to be a pandemic....(Read More)


Four injured in Patong Hill car collision

Thais are not a race, albeit many seem to believe it's so.....(Read More)


‘Thailand’s tourism industry doomed if we don’t embrace nature’, Bensley tells TTF 2020

Have men suddenly gone asexual? Please elaborate on the argument men will stop traveling to Thailan...(Read More)


Three more cases of suspected coronavirus under observation in Phuket

"Wash your hands.." is not a viable defense when touching the faucet and bathroom door ha...(Read More)


Four injured in Patong Hill car collision

@DeK, the 2 pictures not bring to your conclusion. @Wiesel, don't play the 'racist card'...(Read More)