Chip debit cards only offered to those above 16 years old

We refer to the letter, “Card upgrade gives easy money to young” (Dec 21) from Mr Michael Leow Eng Lye. We thank Mr Leow for his feedback and wish to highlight that the industry has been moving towards the use of chip cards in an effort to enhance card security.

Since October, DBS has offered customers the option of exchanging their magnetic stripe ATM cards for chip ATM or debit cards. In accordance with industry standards, chip debit cards are only offered to customers above 16 years old.

For their convenience, customers can elect to receive a chip ATM or debit card, which will be mailed to them. Customers who do not make a selection will receive a chip ATM card as part of the magnetic stripe card replacement programme.

While debit cards offer additional benefits such as cash rebates, merchant discounts or online transacting capabilities, spend is limited to the funds available in the customer’s account. Customers should also understand potential risks associated with debit cards, including unauthorised signature-based or card-not-present transactions. These risks are highlighted in the bank’s communication on chip card replacement.

We encourage customers to make a card selection based on their needs and lifestyle preferences.

Regardless of the type of chip card selected, we advise customers to remain vigilant and to spend within their means. Customers can visit the DBS website to learn more about card security.