Techcombank stops supporting magnetic cards, converting to free chip cards
Vietnam Technological and Commercial Joint Stock Bank (Techcombank) announced that from March 19, 2025, the bank will stop providing payment, withdrawal, and money transfer services for Napas payment cards with magnetic technology. To continue using the service, customers need to switch to chip technology cards in accordance with the regulations of the State Bank.
This move is implemented according to Circular 18/2024/TT-NHNN to enhance security and prevent card fraud. Previously, the State Bank had requested commercial banks to stop issuing cards from 2021 and complete the transition to chip cards.
How are magnetic cards and chip cards different?
captions: With captions containing fixed information, they are easily copied and attacked by fraud.
chip cards: integrated with electronic microchips, creating dynamic transaction codes, improving security and reducing the risk of data theft.
This conversion helps protect customer accounts from card fraud risks, while complying with the card conversion roadmap of the entire banking industry.
Instructions for converting cards from free chip cards
Techcombank supports customers to convert for free through three channels:
At the transaction counter: Customers bring their identification documents to the nearest Techcombank counter to exchange cards.
Through Techcombank Mobile application: Log in, select the card to be converted, enter the card receiving information.
Call hotline 1800 588 822: Register to change cards through a consultant, receive cards at the desired address.
Techcombank recommends that customers change cards before March 19 to avoid transaction interruptions. At the same time, the bank warns customers to be vigilant against forms of fraud impersonating card conversion, requesting personal information or authentication via strange links.
Converting from card to chip card is an inevitable trend, helping to improve security and protect customer assets.
