BANGKOK – The Bank of Thailand (BoT) has affirmed that the public will still be able to use ATM and debit cards with magnetic strip technology until the end of 2019, following the move by commercial banks to introduce new cards with verification chips.
Deputy Governor of Financial Institutions Stability Tongurai Limpiti said debit and ATM cards issued from May 16 onward will utilize chip verification technology for enhanced security.
Existing cards with magnetic strips will be valid until December 31, 2019, while commercial banks will fade out magnetic strip cards as they expire. Those wishing to switch to chip cards before the expiration date of their magnetic strip cards can do so with a surcharge.
The new chip cards will be compatible with all ATMs of the issuing bank, while certain ATMs may temporarily be unable to accept chip cards from other banks.
Those who wish to find out more information can visit the website www.bot.or.th or contact the call centers of each bank.
