Major changes are coming to Chinese bank cards starting May 1.
The magnetic stripe that appears on many debit cards with chips will no longer be used by ATMs and POS machines across China from May 1, 2017 in efforts to improve bank card security.
# Not sure if your card needs to be changed?
Here's a rundown of three types currently available in China, and info on whether or not you'll need to switch them:
3 Types Bank Cards In China
Magnetic Stripe Only Cards
Safety: ★★☆☆☆
These cards will continue to work after May 1. But banks highly encourage customers with magnetic stripe cards to apply for chip versions, which are much safer.
Chip Only Cards
Safety: ★★★★★
Relax! These cards are considered extra secure and will also still work after May 1.
Magnetic Stripe + Chip Cards
Safety: ★★★☆☆
These hybrid cards will NOT work after May 1. The reason? Banks say they're extremely insecure.
After May 1, the swiping function on magnetic stripe cards with chips will be completely disabled.
How to Change Your Bank Card?
Bring your ID/ passport as well as the original card to get your brand new chip-enabled one.
Head over to the local bank where you opened your account
Fees & Processing Times
Changing Fee: RMB5
Do you need to change your card number?
For account numbers starting with 62, no.
Processing time: N/A
Hotline: 95588
China Construction Bank
Changing Fee: RMB5
Do you need to change your card number?
For account numbers starting with 62, no.
Processing time: Within a week
Hotline: 95533
Agricultural Bank of China
Changing Fee: RMB5
Do you need to change your card number?
For account numbers starting with 62, no.
Processing time: Within 15 working days
Hotline: 95599
Bank of China
Changing Fee: Free!
Do you need to change your card number?
For account numbers starting with 62, no.
Processing time: Within 10-15 working days
Hotline: 95566
Bank of Communications
Changing Fee: RMB5
Do you need to change your card number?
For account numbers starting with 19, no. For account numbers starting with 17, yes.
Processing time: Within a week
Hotline: 95559
China Merchants Bank
Changing Fee: RMB5
Do you need to change your card number?
Ask at the counter
Processing time:
If you don't need to change your card number, you can get the new card right away. If you do need to change your card number, you will get your new card within a week.
Hotline: 95555
China Citic Bank
Changing Fee: RMB10
Do you need to change your card number? No.
Processing time: Right away.
Hotline: 95558
Postal Savings Bank of China
Changing Fee: No more than RMB10
Do you need to change your card number? N/A
Processing time: N/A
Hotline: 95580
Source:People's Daily/That's PRD
HACOS,Business Services Solutions Master