atm cards are already, by definition, pin based cards...at one point meps had an eftpos payment system, and it was pin based....so technically, there is NO need to change the pure atm cards...i have my 6 digit pin for atm access, and that can be used the same for pin based purchases, should i want to...
the issue is actually, what system our debit cards are based on nowadays...it appears msia has given up on national eftpos system, and adopted the visa/mc system....hence all the bankcards are visa/mc based...i suppose that makes sense, to ride on the very extensive visa/mc cc payment network...
my atm cards dates back to the early 90's and is a limited edition card with the picture of the Manara Maybank...and never expires...when they introduced the debit cards (cherry), i declined to "upgrade"....
my accounts are also annual charge free....never charged for the atm card use...
so i loath to have to change, and then have the bank negating on all the historical free nature of my accounts and cards...
p/s i just checked, the old atm card is actually plus enabled, so should be compatible with the visa network, i have actually withdrawn cash in foreign atms with the card, via the plus/visa network.....there is REALLY no need to force people like me to change, and it CANNOT be bnm's directive...as bnm's directive is purely to move payment system at pos into a pin based system...nothing to do with atm cards, which is already pin based anyway....
OCBC is probably the only bank that is still keeping the old & pure ATM card. My mother was there and told by the staff there was no need to change. Only payment cards are affected.
Jul 30 2016, 10:58 PM
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