It works. At present, there are three kinds of bank cards in circulation on the market:
One is the magnetic stripe card, suitable for credit card transactions, the card only has a magnetic stripe without a chip;
The second is chip card, suitable for card swing, card transaction, card only chip without magnetic stripe, also known as IC card; The third is the composite card, which is suitable for swipe card, swing card and card transaction, and the card has both chips and magnetic strips. That is to say, from May 1, the magnetic strip transaction function of the composite card with both chips and magnetic strips will be turned off, and the chip transaction function will still be retained, and the composite card is equivalent to a chip card. Others such as pure magnetic stripe cards and chip cards will continue to be used. For pure magnetic stripe card users, the bank recommends that cardholders should actively change their cards, whether for their own card security or to comply with policy trends. During the \"trade-in\" period, the old card can continue to be used until the new card is activated.