From July 1, 2025, stop ATM card transactions using magnetic technology.

From July 1, 2025, all ATM cards using magnetic stripe technology will no longer be accepted for transactions across the entire banking system. This regulation applies to all types of cards with magnetic strips, including cards with only magnetic strips and cards that combine chips with magnetic strips.

This is an important content in the roadmap to modernize non-cash payments and ensure the safety of the financial and banking system, specifically regulated in Circular 18/2024/TT-NHNN on bank card activities and Official Dispatch 1099/NHNN-TT dated February 19, 2025 of the State Bank.

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Mr. Pham Anh Tuan, Director of the Payment Department (State Bank), said: "After assessment, we found that many criminal organizations are still taking advantage of the use of magnetic cards to steal data through skimming at ATMs. On that basis, the State Bank decided to completely stop accepting magnetic cards in transactions from July 1, 2025."

Banks are advising customers to proactively check the type of ATM card they are using. If the back of the card has a black magnetic strip and no chip integrated on the front, users should contact the bank soon to switch to a domestic chip card.

After July 1, 2025, unconverted cards will not be able to perform transactions such as: withdrawing money, depositing money at ATMs and CDMs, paying at POS card acceptance points, interbank transactions... In some cases, the card may be completely locked, greatly affecting the use of the customer's account.

The State Bank and commercial banks also warn people to be vigilant against fraudulent activities related to card conversion. Customers should not provide personal information, PIN codes, passwords or OTP codes to any calls or messages claiming to be from the bank. In case of difficulties converting via the application, customers should go directly to the transaction counter for official support to avoid being taken advantage of in fraudulent situations.

According to cand.com.vn

Source: https://baolaocai.vn/tu-172025-ngung-giao-dich-the-atm-cong-nghe-tu-post403196.html