Debit Cards having magnetic strips
I had installed a POS (Point of Sale) Machine provided by SBI in my establishment expecting my customers to pay by swiping their Debit cards on which government has waived off any transaction charges till 31st December 2016.
My customers were happy to use this mode of payment.
But to my surprise the machine was not accepting the card if even a small scratch was there on the magnetic strip.
Chip based Debit cards are rare & if a person wants to change his Magnetic Strip card to Chip based card , the bank levies charge for replacing the card. Government should instruct banks to replace the Magnetic Strip cards with Chip based cards free of cost.
Also to encourage Cashless transactions using Debit/Credit Cards banks should upgrade it's server's processing speed or allot a separate server for Card transactions since many a time there is connectivity issue or it takes ages to get confirmation from bank for card acceptance. Most of time the transaction done through a Magnetic Strip card is declined due to above reason. This irritates customer since the card is again swiped, pin re-entered by customer & again the transaction is declined.
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My customers were happy to use this mode of payment.
But to my surprise the machine was not accepting the card if even a small scratch was there on the magnetic strip.
Chip based Debit cards are rare & if a person wants to change his Magnetic Strip card to Chip based card , the bank levies charge for replacing the card. Government should instruct banks to replace the Magnetic Strip cards with Chip based cards free of cost.
Also to encourage Cashless transactions using Debit/Credit Cards banks should upgrade it's server's processing speed or allot a separate server for Card transactions since many a time there is connectivity issue or it takes ages to get confirmation from bank for card acceptance. Most of time the transaction done through a Magnetic Strip card is declined due to above reason. This irritates customer since the card is again swiped, pin re-entered by customer & again the transaction is declined.
What is opinion of members? more
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I FULLY AGREE THAT CREDIT AND DEBIT CARDS ARE ISSUED WITH OWNERS PHOTO ON IT TO AVOID FRAUDS. ALSO THERE SGOULD NOT BE ANY CHARGE BY BANK FOR ISSUE OF A DEBIT CARD OR / AND CREDIT CARD ANY TIME FOR INITIAL ISSUE AND RENEWAL OR CHANGE FROM MAGNETIC SWIPE CARD TO CHIP BASED CARD. IN FACT RBI HAD ISSUED WRITTEN INSTRUCTIONS TO ALL BANKS TO CHANGE; ON ITS OWN; ALL MAGNETIC STRIP CARDS TO CHIP BASED CARDS FREE OF CHARGE. IF STILL BANK CHARGES; THE SAME CAN BE TAKEN UP FIRST WSITH THE CHIEF MANAGER OF BANK IN WRITING ( KEEP PROOF OF HAVING SUBMITTED APPLICATION ie, RECEIPT ON THE OFFICE COPY. IF NO ACTION BY BANK WITHIN ONE MONTH; WRITE TO BANK OMBUDSMAN ( DETAILS AVAILABLE ON BANK WEB SITE). I WAS FACING SIMILAR PROBLEM. AFTER SUBMITTING REMINDERS TO HIGHER LLEVELS IN SBI; I SENT AN EMAIL TO CHAIRMAN@SBI.CO.IN ENCLSOING ALL EARLIER EMAILS. WITHIN A WEEK; THE BANK ISSUED ME A CHIP BASED CARD WITHOUT CHARGING ANY MONEY more
Jan 23
Abroad,Debit card and Credit card are offered with photograph of an individual. Can bank India,adopt these practices?? more
Dec 31
All the best Shri G. C. Mathur. Hope you succeed where others have failed. L.Kalavathi Retd. Bank Official Chennai, Tamilnadu, India 30/12/2016 more
Dec 30
