RCBC is now in the final stages of upgrading its clients’ cards with EMV chip-enabled cards. Visit your branch of account during the recarding period which has been extended to November 15, 2017. Starting November 16, 2017, all remaining RCBC magstripe cards will be automatically deactivated
Nobody likes to think that their card is being secretly used by someone else. I remember the time my other debit card still had this magnetic strip. Around 3,000 pesos was siphoned by someone buying software online. I only found out about the loss the following day. It is not easy recovering the money. It took over a month for the money to be redeposited back to my account. The skimming and cloning needs to stop.
It makes sense to upgrade to Europay Mastercard Visa (EMV) chip enabled card. BSP (Bangko Sentral ng Pilipinas) mandated all banks to make the shift to Europay Mastercard Visa (EMV) chip enabled cards. EMV is a global standard for cards equipped with computer chips and the technology used to authenticate chip-card transactions whether debit, prepaid and credit card. It’s that small, metallic gold square you’ll see on new cards. It’s a computer chip, and it’s what sets it apart the new generation of cards.
Who doesn’t want to feel secure in their transactions? It’s great to know that shifting to EMV cards is part of RCBC’s thrust to ensure safe and secure transactions for its clients. Did you know magnetic stripes on cards contain unchanging data, which makes it easy for anyone to replicate the data?
It is one reason the old magnetic strip cards are prime targets for counterfeiters, who use stolen card data to withdraw or purchase. There is a level of comfort knowing it is difficult to counterfeit EMV cards. Unlike the magstripe technology, every time an EMV card is used for payment, the EMV chip creates a unique transaction code that cannot be used again. It ensures safer transactions by authenticating each card and generating one-time codes for each payment. This makes it difficult for anyone to steal the cardholder’s account information.
To enjoy the new EMV technology and its enhanced security features, RCBC clients can easily upgrade by going to their branch of account during the recarding period which has been extended to November 15, 2017. The upgrade to the EMV chip enabled card is free. All you need to do is present only one (1) valid photo-bearing Government ID to upgrade their ATM Debit or their MyWallet cards completely, for free. Upon receipt of their new EMV card, RCBC clients can proceed to the nearest RCBC or RCBC Savings Bank ATM to activate their card.
Starting November 16, 2017, all remaining RCBC magstripe cards will be automatically deactivated and can no longer be used in any transactions.
Drop by soon so you can make the shift before the deadline to enjoy more secure card transactions.