From July 1, 2025, ATM card transactions will stop, banks will support conversion

According to the State Bank's regulations, from July 1, 2025, all ATM cards using magnetic stripe technology will be officially discontinued in the entire banking system in Vietnam. This is an important transition to improve security in payments and promote the trend of not using cash.

According to the State Bank's roadmap, after July 1, 2025, unconverted magnetic ATM cards will not be able to perform any transactions, such as cash withdrawals, transfers, savings deposits at ATMs or CDMs, payments via POS, as well as interbank transactions.

In many cases, the card can even be completely locked, causing a major impact on personal financial activities. Therefore, as soon as the State Bank announced, commercial banks in the province promptly informed customers widely, while increasing support for card conversion at transaction points as well as on digital channels.

How to change magnetic card to chip card?

Currently, the conversion from magnetic cards to chip cards is being implemented by banks for free in three main forms:

Exchange directly at the branch/transaction office: customers only need to bring their CCCD or ID card to the nearest transaction point to receive support with the procedure.

Change via Mobile Banking: many banks such as: Agribank , MB, BIDV, Vietcombank… have integrated the online card registration feature, allowing you to receive the card at home or at the counter.

Contact via hotline: call the bank's customer service center for advice and instructions on changing the card.

Staff of Military Bank Lao Cai Branch support customers to convert cards.

Up to now, the Military Commercial Joint Stock Bank, Lao Cai Branch (MB Lao Cai) has converted over 140,000 magnetic cards of customers with black ribbons to chip cards. To facilitate customers, the unit applies 3 forms of conversion, including: performing directly at MB Lao Cai transaction points; conversion operations on the call center of the Military Commercial Joint Stock Bank; performing on the app.

Mr. Tran Trung Kien, Deputy Director of Lao Cai Branch of Military Commercial Joint Stock Bank, said: Currently, MB is supporting customers to convert magnetic cards to chip cards through 3 forms. After completion, the card will be sent to the customer's registered address.

Customers directly convert cards at MB transaction points.

Since April 2025, Agribank Lao Cai II Branch has actively promoted and guided customers to convert magnetic cards to chip cards. The operation is simple, free of charge, and customers are ready to be supported. Thanks to that, up to now, more than 14,000 magnetic cards of Agribank Lao Cai II customers have been converted to chip cards. It is expected that Agribank Lao Cai II Branch will complete this work by the end of June.

To serve customers' card payments, Agribank Lao Cai II Branch equipped 14 ATM/CDM machines, installed 130 POS machines at hospitals, restaurants, and hotels in the province. In addition, the bank has promoted and warned to ensure safety for customers switching cards.

More than 14,000 customers of Agribank Lao Cai II Branch have converted from magnetic cards to chip cards.

Mr. Nguyen Dinh Hieu, Deputy Director of Agribank Lao Cai II Branch, said: To achieve the fastest results in completing card conversion for customers, the branch sends notifications on the system, coordinates with media agencies to post information, and assigns staff to propagate to each customer. In addition, the branch also creates the most favorable conditions for customers to successfully convert magnetic cards to chip cards with simple operations, completely free of charge, and can be performed at any time.

Agribank Lao Cai II Branch supports customers.

Magnetic stripe cards are considered old technology, and information can easily be copied by skimming devices at ATMs or POS machines. In fact, there have been many cases of customers losing money without making any transactions, due to card information being stolen and exploited. Stopping the acceptance of magnetic stripe cards is expected to help reduce financial fraud and comply with international security standards, especially in the context of promoting comprehensive digital transformation in the banking sector as it is today.

According to the guidance from the State Bank, customers should proactively check the type of ATM card they are using. If the front of the card does not have a yellow chip (electronic circuit), but only has a black magnetic strip on the back, it is a magnetic card and must be replaced. Even combination cards (with both chip and magnetic strip) are also in need of replacement, because after July 1, 2025, all cards with magnetic strips will be rejected for transactions.

Beware of scams when changing cards

The State Bank has issued a warning about a number of individuals impersonating bank employees calling and texting to request card information, OTP codes, account numbers, etc. under the pretext of “supporting card exchange”. The banks affirmed:

- Do not ask for personal information, OTP code via phone, text message or strange link.

- Do not send staff to your home to change cards.

The process of converting magnetic cards to chips is necessary to improve the quality of the payment system. However, if not properly promoted, people can easily become victims of sophisticated scams. The role of commercial banks is extremely important in guiding and supporting users to follow the correct procedures. The State Bank of Vietnam, Region IV Branch, has directed commercial banks in Lao Cai province to increase warnings to customers to avoid being taken advantage of by scammers.

Source: https://baolaocai.vn/tu-172025-ngung-giao-dich-the-tu-atm-cac-ngan-hang-ho-tro-chuyen-doi-post403666.html