Maestro Card from Punjab National Bank barred from use
Posted on: 04/Jul/2017 9:55:40 AM
The Reserve Bank of India has been stressing the need to issue only EMV Chip centred cards for the credit and debit cards by various banks because of the reliable safety features.
Most of the banks have followed instructions and are issuing debit/credit cards as per this.
Punjab National Bank has 5.65 Crores credit/debit cards at present. Out of this, around 1 Lakh customers are still using the old Maestro debit cards. The Bank has decided to bar these cards from usage as there are no reliable safety features in these cards.
So, the Bank has announced that the old Maestro card holders can approach any branch and get the old card exchanged to get the new ones with safety features. The bank has announced that the replacements must be obtained before 30th July. The cards will not be valid from 31st July.
