From tomorrow, February 1, Punjab National Bank (PNB) will change the terms of withdrawals from its ATMs. PNB has taken commendable steps to curb ATM fraud across the country. If you have a bank account in PNB, this is news to you.
From February 1, PNB customers will not be able to withdraw money from non-EMV ATMs. PNB Bank tweeted this on its official Twitter account. PNB Bank has taken this action in view of the increasing number of fraud cases, thereby protecting customers’ money.
From February 1, customers will not be able to conduct financing or non-financial transactions with ATMs without EMVs.
Learn what non-EMV ATMs are
Non-EMV ATMs or non-EMV ATMs do not use an ATM or debit card during transactions. In these machines the data is read by the card’s magnetic stripe. Here the card is locked for a few seconds.
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