RBS's digital bank Bo reissues cards to comply with new EU rules

Thursday 6 February 2020 10:02 CET | News

Royal Bank of Scotland's new digital bank Bo has announced it is reissuing debit cards to 6,000 of its customers who signed up to the app before 3 January 2020.

The move is made in an effort to comply with new EU banking rules. RBS, which also owns Natwest, said the new cards were being issued to make sure Bo was compliant with customer authentication regulations. The rules, to protect customers from fraud, force cardholders to use chip and pin machines more often, rather than always using contactless.

Bo representatives have announced that the new cards will message the customer via the pay terminal when they need to make a chip and pin transaction. Many banks are believed to have already built this technology into their cards, or developed a way of working through the new regulations with card networks such as Visa and Mastercard.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Bo, RBS, Royal Bank of Scotland, Visa, MasterCard, cards, card network, debit card, digital bank, pin machine, EU regulation, fraud prevention, bank
Categories: Payments & Commerce
Countries: United Kingdom
This article is part of category

Payments & Commerce