EastWest reminds holders of its magnetic stripe only debit cards, to claim their free replacement EastWest Debit Cards with EMV and payWave by July 31. EMV (Europay, MasterCard, and Visa) is the global standard in card payment security.
“Cardholders who continue to use their old magnetic stripe debit cards are at greater risk of losing their hard-earned money to ATM skimming and transaction fraud. Thus, we strongly encourage our customers to claim their replacement debit card now to enjoy greater protection against fraud,” said EastWest SEVP & Retail Banking Head Gerry Susmerano.
Clients with non-payroll accounts have until the end of July to claim their replacement debit cards from their respective store of account. Meanwhile, clients whose accounts are under payroll are requested to coordinate directly with their Human Resource Department on the deadline for claiming their new debit card with EMV & payWave.
For customers’ protection, cards that remain unclaimed after the July 31, 2017 deadline will be destroyed, while all old magnetic stripe, non-EMV debit cards will be deactivated. The date of deactivation will be announced soon. Cardholders who are unable to claim their free replacement cards within the deadline can request for a new card. The card replacement fee is P150.
EastWest Debit Card’s chip-on-card technology feature provides an extra layer of security against theft, cloning, and card fraud.
The new debit card also comes with Visa payWave, a contactless payment feature, which allows for quick and secure tap-and-go transactions where available.
The new EastWest Debit Card can be used at over 30 million Visa-affiliated establishments worldwide, 350,000 Visa-accepting online merchants, 2,000 BancNet-accredited establishments nationwide, and more than 1.9 million ATMs in the Philippines and abroad.
For more information, visit www.eastwestbanker.com.