PSBank to deactivate all non-EMV cards by September 1

Rappler.com
PSBank to deactivate all non-EMV cards by September 1
PSBank debit and prepaid card account holders can visit any branch to get their card. They need to bring their old card and one government-issued valid ID.

MANILA, Philippines – Philippine Savings Bank (PSBank) clients have until end of August 2017 to get their EMV chip-enabled cards.

The thrift bank arm of Metropolitan Bank and Trust Company (Metrobank) has declared a deadline for deactivating all its non-EMV cards. EMV stands for Europay, Mastercard, and Visa.

“All non-EMV PSBank cards can no longer be used beginning September 1, 2017,” PSBank said in a statement on Friday, August 25.

The George Ty-led thrift bank said card holders should replace their non-EMV cards at any PSBank branch, without charges.

“PSBank debit and prepaid card accountholders can simply visit any branch to get their card. They simply need to bring their old card and one government-issued valid ID,” the statement read.

For PSBank Flexi account holders, the bank said, new EMV cards will be delivered via courier to their office address, while their personal identification number (PIN) will be delivered separately via another courier to their home address.

Flexi card holders can activate their card by calling PSBank’s 24/7 customer experience hotline at (02) 845-8888 or by visiting the nearest PSBank branch.

PSBank said it started to issue EMV chip-enabled cards as early as January 3, 2017. Its more than 600 automated teller machines are EMV-ready.

PSBank’s move to shift to EMV chip-enabled cards is in line with Bangko Sentral ng Pilipinas Circular 859 or the Europay, Mastercard, and Visa implementation guidelines.

The PSBank EMV chip-enabled cards have enhanced features for verifying transactions made on the card, therefore minimizing cases of card-present fraud incidents and identity theft and giving cardholders the peace of mind whenever they do card transactions. – Rappler.com