Punjab National Bank ATMs will not dispense money, non-EVM machines will be closed from February 1

- The bank put this information on its Twitter handle

New Delhi Dated 19th January 2021 Tuesday

Punjab National Bank's non-EVM ATM machines will not disburse money to account holders from February 1.

From February 1, non-EVM ATMs will be applicable to both financial and non-financial transactions, according to information posted by the bank on its Twitter handle.

The bank said in a Twitter handle that it had taken the decision to protect its account holders from ATM machine fraud.

According to the bank, the decision was taken to protect account holders from fraud like clone cards. Most banks had earlier banned transactions with magnetic stripe debit cards following a Reserve Bank order. Such debit cards were replaced by debit cards with EMV chips.

What is a non-EVM ATM machine? These are machines that do not hold the card until the transaction is completed. The card can be withdrawn from such machine after the account holder has inserted the card and read it. Such cards can easily lead to fraud. An EVM machine, on the other hand, is a machine that holds the card until all customer transactions are completed.

Punjab National Bank recently introduced a facility for its account holders to turn on / off their cards through the PNBivan app.

PNB believes that this will prevent the criminal activity of card cloning or any other malpractice to withdraw money from the account holder. People who have PNB account holders should pay attention to this matter. The facility will come into effect from February 1, the bank said.