As of June 18, the total number of magnetic cards issued by the group of 4 major banks in Hai Duong, including Agribank , VietinBank, Vietcombank, and BIDV, was 66,000 cards, down about 15,000 cards compared to early May 2025, and down about 35,000 cards compared to the beginning of the year. This number of cards accounts for 7% of the total number of cards issued by this group.
According to the provisions of Circular 18/2024/TT-NHNN on bank card activities and Official Dispatch 1099/NHNN-TT dated February 19, 2025 of the State Bank, from July 1, 2025, all ATM cards using magnetic technology will not be able to make transactions across the entire banking system.
This means that after this time, unconverted magnetic cards will not be able to perform transactions such as withdrawing money, depositing money at ATMs and CDMs, paying at POS card acceptance points, interbank transactions... In some cases, the card may be completely locked, greatly affecting people's account usage.
Therefore, people need to proactively check the type of ATM card they are using. If the back of the card has a black magnetic stripe without an integrated chip on the front, people need to switch to a domestic chip card soon. Cards with integrated chips can continue to be used normally.
To convert from a magnetic card to a chip card, people can go to the bank's transaction counter, exchange or request a new card through the electronic banking application.
Not only stopping magnetic card transactions, from July 1, 2025, banks will also temporarily suspend transactions for organizational and business accounts that have not updated biometric information of legal representatives.
Previously, from January 1, 2025, bank accounts of individuals who have not updated biometric information will have their services suspended or restricted from using banking services.
HA KIENSource: https://baohaiduong.vn/luong-the-tu-chi-con-7-tong-luong-the-da-phat-hanh-cua-nhom-4-ngan-hang-lon-chi-nhanh-hai-duong-414388.html
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