1st batch of BDO EMV-equipped ATM cards out by Feb. 1

In a statement, BDO explained that its clients have been advised to get their EMV ATM cards since the third quarter of 2016, and application for the new cards will be entertained until January 31 this year.
(PNA Photo)

MANILA — Banco de Oro Unibank said on Thursday it was completing the issuance of the first batch of new Europay, Master Card, and Visa (EMV)-equipped automated teller machine (ATM) cards to its clients by February 1.

The bank did not give any figures on how many of its clients had been issued EMV-equipped ATMs so far.

But it warned the old ATM cards of these clients will be useless by February, since the magnetic stripe of the cards will be disabled.

In a statement, BDO explained that its clients have been advised to get their EMV ATM cards since the third quarter of 2016, and application for the new cards will be entertained until January 31 this year.

“BDO has already made all its ATMs nationwide EMV-certified last year. PoS (Point of Sales) terminals found in supermarkets, restaurants, shopping malls, and other establishments are converting into EMV as well,” it said.

The Bangko Sentral ng Pilipinas (BSP) earlier set Jan. 1, 2017 as the deadline for banks to fully migrate to EMV technology, but banks failed to meet this, thus, the extension until June 30, 2018.

Banks that fail to meet the deadline will be penalized.

Shift to the use of EMV-equipped ATMs is aimed at ensuring safer ATM-related transactions in the country.