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Why I&M Bank phased out old ATM cards

I&M Bank Uganda recently said it will phase out the old Orient Bank-branded Visa debit cards. The bank said its customers will now exclusively use Mastercards.

The bank urged customers to upgrade to the new and improved I&M Bank Mastercards by February 1 because its new banking system will not be able to support the Visa debit cards.

“We are on course to offer the best and most convenient banking services and experience to our customers. Our recent partnership with Mastercard birthed a range of new and amazing I&M Bank Mastercard products.

 The I&M Bank Mastercards will offer seamless payment solutions. We encourage our customers to embrace the recarding process, in order to enjoy more convenient yet secure banking that comes with various benefits,” said I&M Bank CEO- Robin Bairstow.

The issuing of the new I&M Bank Mastercards has been ongoing, and according to Annette Nakiyaga, I&M Bank’s Head of Marketing and Corporate Communications, the exercise has been overwhelmingly embraced by the bank’s customers.

“We are grateful that most of our customers have embraced our re-carding call with great positivity. The replacement process is quick, and the customer will receive their cards instantly. The old cards will cease to be functional effective 1 February 2024.

“The new cards can be activated using the I&M Bank USSD Service (*200#), the I&M Bank mobile banking application- Fastpay, as well as using the different ATM locations. Please visit our website for a step-by-step guide,” Nakiyaga explained.

The I&M Bank Mastercard is designed to facilitate payment for daily expenditures, both locally and overseas, without the risk and inconvenience of carrying cash, as well as conveniently accessing cash from ATMs.