Change Your Bank Card Before It Stops Working on May 1

Major changes are coming to Chinese bank cards starting next month.

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 change? Here's a rundown of three types currently available in China, and info on whether or not you'll need to switch them:

1. Magnetic Stripe Only Cards

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.

2. Chip Only Cards

Relax! These cards are considered extra secure and will also still work after May 1.

3. Magentic Stripe + Chip Cards   

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

Have a hybrid card and need to change it? Head over to the local bank where you opened your account and they'll switch it for you. Don't forget to bring your ID (read: your passport) as well as the original card to get your brand new chip-enabled one.

Here's a rundown of fees and processing times at major Chinese banks (h/t People's Daily):

ICBC
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  

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