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

Cards with only a black magnetic stripe (left) will be suspended from July 1, 2025, while cards with chips (right) can continue to be used. Photo: VIET AN

According to the announcement from the banks, the suspension of transactions applies to all ATM cards that only use magnetic strips (without integrated chips). This is a step to improve security in non-cash transactions, minimizing the risk of fraud, card counterfeiting, and information theft.

The conversion is carried out in accordance with the provisions of Circular 18/2024/TT-NHNN dated June 28, 2024 and Official Dispatch 1099/NHNN-TT dated February 19, 2025. Commercial banks are required to complete the conversion of all magnetic cards to domestic chip cards by 2025, in order to build a safe, modern and synchronous payment system.

Bank representatives recommend that customers quickly check the type of card they are using. Accordingly, magnetic cards are cards with a black strip on the back, while chip cards will have a small chip on the front. If the card does not have a chip, users need to go to branches, transaction offices or use electronic banking applications to make the conversion. Currently, many banks support the conversion of chip cards for free.

Chip cards use advanced encryption technology to prevent card copying and counterfeiting and protect user accounts. Switching to chip cards not only protects personal assets but also contributes to ensuring network security for the entire system.

During the card exchange process, banks warn people to be wary of impersonating bank employees to commit fraud. Users should never provide OTP codes, passwords, or PIN codes over the phone or on social networks. If support is needed, customers should go directly to the transaction counter.

After July 1, 2025, unconverted magnetic ATM cards will stop operating or even be locked, causing disruptions in cash withdrawals and payments... Therefore, users need to make the conversion soon to ensure safe and smooth financial operations.

Source: https://baophuyen.vn/kinh-te/202505/tu-ngay-172025-dung-giao-dich-the-atm-cong-nghe-tu-09515f0/