Chip cards can't completely replace magnetic stripe cards in a short time, and there is no limit on how long bank magnetic stripe cards must be replaced for the time being.

Advantages of IC chip card:

(1) cards have different validity periods. The original magnetic stripe card is valid for 3 years, and the ic card is valid for 10 year.

(2) When trading, reading methods are different. The magnetic stripe card reads the magnetic stripe information by swiping the card, and the ic card reads the chip information by inserting the chip. Therefore, when using IC card, please pay attention to the reading mode of operators, and try to ask operators to use the card by inserting chips to prevent the risk of magnetic stripe information being recorded sideways.

(3) The account structure of the magnetic stripe card is different, and the account structure is credited to the main account, that is, the account that records the overdraft balance or overpayment in the card; The account structure of IC card is: credit master account+electronic cash account.

(4) Magnetic stripe cards are different in security, and they are easy to be recorded and burned by criminals, and there is a risk of being forged and stolen; The chip information of IC card is not easy to be stolen by criminals, and it is currently recognized as the credit card with the highest safety factor.