DTI: Make sure ATM cards have an embedded chip to avoid problems in 2017

The Department of Trade and Industry (DTI) advised ATM cardholders to get in touch with their banks and make sure their cards have an embedded chip-based technology to avoid any inconvenience and surprises when doing transactions via automated teller machines.

All ATM cards must be EMV-compliant starting January 2017.

Beginning next year, ATM cards must have a chip-based technology as the Bangko Sentral ng Pilipinas (BSP) starts to implement its new policy, according to a report on "Unang Balita" on Wednesday.

By January 2017, ATM cards must have an embedded Europay Mastercard Visa (EMV) chip, aside from the magnetic stripe, for tighter security. It also helps prevent fraudsters from cloning the cards. — Ted Cordero/VS, GMA News