Home / Money / Personal-finance /  Two dates SBI account holders should be aware of

New Delhi: If you are a State Bank of India (SBI) account holder, you need to be aware of some forthcoming changes. There are at least two recent updates you should be aware of. First, the bank has asked all customers to link their mobile numbers with bank accounts by 30 November to continue using the internet banking facility. Second, SBI has asked all customers to get their ATM-cum-debit cards with magnetic stripe replaced with ones with EMV chip before 31 December.

SBI will block access to its internet banking facility if the account holder’s mobile number is not registered with the bank

If you use SBI’s internet or mobile banking facility, you have to register your mobile number with the bank by the end of this month (30 November 2018), if not already done. If your mobile number is not registered with the bank, SBI will block or deactivate access to its internet banking facility from 1 December. “As per RBI advisory, it is mandatory to register your mobile number to avail internet banking services. Please register your mobile number by 30.11.2018, failing which your internet banking access will be deactivated/blocked w.e.f from 01.12.2018," SBI said on its internet banking website.

Upgrade to EMV chip debit cards by 31 December

State Bank of India has asked its customers to change their magstripe ATM-cum-debit cards by the end of this year (31 December 2018). SBI will issue new EMV chip debit cards to its customers for free. For card replacement, SBI ATM-cum-debit card-holders can visit their home branch or apply online through internet banking. “As per the RBI guidelines, you are required to change your magstripe debit cards to EMV chip debit cards by the end of 2018. The conversion process is absolutely safe and comes with no charge," SBI said in a tweet.

The Reserve Bank of India had earlier asked banks to issue only chip-based and PIN-enabled debit and credit cards to protect customers from fraud.

SBI makes submitting Form 15G, Form 15H easier for its customers

Ideally, Form 15G or Form 15H should be submitted at the start of the new financial year. From this financial year, TDS will not be charged to senior citizens if the interest income is less than 50,000.

If an SBI account holder has internet banking facility, SBI also allows online submission of Form 15G or Form 15H. SBI account holders can log into their accounts online and submit the forms under e-services. In another recent communication, SBI has asked account holders to register their mobile numbers with the bank by 1 December 2018, failing which the bank will block access to their net banking accounts.

Also Read: SBI zero balance savings account for children: 10 things to know

Meanwhile, in another customer friendly rule, SBI has also removed the limit on the amount that can be deposited in a non-home branch. Earlier the limit was 25,000.

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