As we plunge into the world of ATM and credit cards so as the continuous updates and efforts by all the banks in the community.
A the new update has been released for debit and credit cards holders - Customers of UAE are now encouraged to submit their Emirates ID to update bank records immediately before the deadline - February 28, 2019. Unless you want an interruption to your shopping spree.
This is commensurate to Marwan Lutfi, Chief Executive of Al Etihad Credit Bureau, that if the customers fail to meet the February 28, 2019 deadline, banks would suspend their debit and credit cards."It is the duty of the individual to ensure that the information is up to date," he added.
He pointed out that customers who did not comply with the directive would not be able to withdraw money from automated teller machines (ATM). They will also face stoppage of direct debit and credit card transactions until they provide their Emirates ID. However, the temporary suspension of ATM cards will not prevent customers from withdrawing cash from an account, directly at a bank's branch counter.
The Central Bank of the UAE has urged banks and finance companies to create awareness through media campaigns that a failure in doing so would result in not being able to use ATM cards to withdraw funds or conduct direct debit transactions as well as stopping credit card transactions after February 28, as mentioned in the circular issued earlier this month.
" Banks will suspend debit and credit cards and would get suspended completely after three months." Mr. Lufti said.
To comply is easy but no to able to use your ATM and credit cards is tough.