NCB Offers Free Magnetic Stripe to Chip Card Conversion for Customers

In compliance with the regulations of the State Bank of Vietnam and to enhance transaction security, NCB is implementing a program to support customers with free conversion from magnetic stripe cards to chip cards.

According to the regulations of the State Bank of Vietnam, from July 1, 2025, magnetic stripe cards that have not been converted will be deactivated.

To avoid transaction disruptions and ensure a seamless product experience, NCB recommends that customers proactively convert their cards as soon as possible.

1. Legal Basis

In accordance with Official Letter No. 1099/NHNN-TT dated February 19, 2025 from the State Bank of Vietnam, from July 1, 2025, all magnetic stripe debit cards will be deactivated to ensure transaction security for customers.

2. TWhat are chip cards and magnetic stripe cards?

Chip cards (EMV) are cards that use an electronic chip embedded on the card surface, which securely stores and encrypts transaction information, following international standards of Europay, MasterCard, and Visa.

Magnetic stripe cards are cards with a magnetic stripe on the back that store information and execute transactions by swiping through POS machines or ATMs. However, magnetic stripe cards have limitations in terms of security and usage scope.

3. Why should customers switch to chip cards?

- Enhanced security: Chip cards generate a unique code for each transaction, helping to prevent fraud and data theft.

- Difficult to counterfeit: Information is protected by an electronic chip, making it significantly harder to duplicate or forge compared to traditional magnetic stripe cards.

- Secure online transactions: Higher security standards minimize the risk of information theft during online transactions.

For further assistance, please contact the nearest NCB branch/transaction office or NCB Customer Service Hotline (24/7): 18006166.