We have witness lately about the increase of rate in unauthorized withdrawal from their BDO accounts. Some people have brought their sentiments and experience through social media.
Now, what we know is, those accounts are already compromised because of phishing emails. BDO have already released an statement regarding the issue.
Check it here – https://www.facebook.com/juaninoman/posts/141369553187339
In the wake of numerous large-scale data breaches and increasing rate of counterfeit card fraud all over the world, several card issuers notably from countries in Europe have migrated to the Europay, Mastercard and Visa (EMV) platform – a global standard for cards equipped with computer chips and the technology used to authenticate chip-card transactions.
Other countries – including the Philippines – eventually followed suit in this migration to a new technology aimed at protecting consumers and reducing incidence of fraud.
Way back in January 6, 2017, BDO have issued an advisory
Important #BDOAdvisory to Clients:
Those who are still using BDO ATM Debit Card with magnetic stripe can still do their banking transactions until the card has been replaced by the EMV chip-enabled BDO ATM Debit Card.
To know more about this improvement in customer banking experience, check out this link: https://www.bdo.com.ph/emv
You can check the original post from here – https://www.facebook.com/BDOUnibank/posts/1836985289850964
So I tried to check my online account and this is what I found from their website.
Take note that there is a small text at the bottom that says: Not applicable for Payroll and Asenso Kabayan accounts…
We have received also a photo showing a notice from BDO ATM Machines
To better understand about EMV is, we gather important FAQs especially for the Overseas Filipino Workers
What is EMV?
EMV is a global standard for transactions made on chip-based debit, prepaid and credit cards.
Easy to use
Tap, Type, Insert or Swipe facilities for more convenient transactions.
I opened my account at a Provincial Branch (Example: Cebu) but I’m in Manila and will be staying here for 2 years. Can my migrated EMV card be sent here in (Manila) Branch instead?
Based on our standard guidelines, you need to claim your EMV Debit card at your Branch of Account (Example: Cebu) for security reasons.
However, we understand your concern and as a consideration and accommodation, you may request your branch of account (Example: Cebu) to send your EMV card to a BDO Manila Branch that you prefer. A signed letter of authorization to send your card to a BDO Manila branch is required to be submitted to the preferred servicing branch.
Can I have an authorized representative get my EMV Debit Card for me? What are the requirements?
For security reasons, we suggest that you personally get your EMV Debit card. However, if you are unable to get it, you may have an authorized representative from your immediate family get your EMV Debit card. A bank format authorization letter is required to be submitted, you may request this from your branch of account. Pick- up of EMV card via representative is limited to your branch of account.
My current non-EMV Debit Card is Mastercard, can the replacement EMV card be a VISA (or vice versa)?
You may convert your card to different a brand (Mastercard or VISA), but there will be a fee of P150.00 for that preferred replacement.
I received an SMS for my regular account, but I also have a Payroll Debit Card or Asenso Kabayan Debit Card, can I claim it at the same branch?
Your Payroll Debit Card will be distributed thru your HR Department. Kindly wait for further announcements from your HR. If you have an Asenso Kabayan Debit Card, please wait for further announcements on when your card will be changed to an EMV Debit Card. You may also voluntarily request for card replacement to EMV from your branch of account even prior to the bank’s migration schedule. In the meantime, kindly claim the EMV Debit Card for regular account from your branch of account as soon as possible to avoid any inconvenience.
For more FAQS, you can visit this link https://www.bdo.com.ph/node/47557
Juan in Oman is not connected with BDO or any bank from the Philippines, for any questions about this article, we have already provided all the necessary links, please read carefully. If you wish discuss more, we can do that, just join our Facebook group – https://www.facebook.com/groups/juaninoman/