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For instance, earlier versions of debit cards used a mag strip vs. When old cards expire, banks issue new ones that come loaded with the latest security features, making it harder for fraudsters to use stolen cards. Keep up with tech changes: Debit cards and card readers must keep pace with rapid tech changes.To keep the plastic card in good working order, issuers set expiration dates for an old card to be replaced with a new one. Whether it’s the number wearing off, the magnetic stripe or chip getting scratched, the card cracking, a card’s wear and tear can render it unreadable and stop working unexpectedly. Ensure your card stays in good working order: Debit cards get damaged over time from wear and tear.Just like changing your PIN occasionally, the expiration date and the CVV number must change over time to make the card more secure. Method of fraud prevention: To make purchases online, the card owner must present the expiration date and the CVV number.Here are the reasons why it’s necessary to have expiration dates on debit cards: Also, all automatic bill payments will bounce if your debit card expires. For instance, you won’t be able to withdraw or deposit money at an ATM.

The hassles and inconveniences of expired debit cards make many people question the importance of having expiration dates. Scams: Malware and Peer-to-peer Sharing.Accidental Death & Dismemberment Insurance.Latest Guide on how to set-up Google Pay.Latest Guide on how to set-up Samsung Pay.Latest Guide on how to set-up Apple Pay.