Money and finance is something that we need in our everyday life. This particular need can be completed only be banks. You can deposit and the money in your account which keeps it safe and later you can withdraw it when you need it for some work. India has a lot of banks but the most popular one among them has been the State Bank of India, also known as SBI. You might be unaware of the fact that it is the 43rd largest bank of this world and has been ranked in 221st position in Fortune Global 500 list of the biggest corporations of 2020 throughout the world.
The main headquarters of this bank is located at Mumbai, Maharashtra. It is a completely nationalised bank and is the huge one in India with a market share of 23% and loan and deposits market share of 25%. The bank is one of the biggest employers in India and has around 209,567 employees since 31st March 2017 among which 23% employees are female and 3,179 employees have been facing some disabilities. It offers a wide range of banking products in its network of multiple branches located almost everywhere in India and also includes products that aim at non-resident Indians (NRIs). SBI is known to have 16 regional hubs and 57 zonal offices located at the most important cities in India.
It is a truth that everything is now getting changed to cashless transactions and SBI has been following the system of providing ATM cards to its customers when they open a new account. But this system has arrived with a lot of error and other issues inside it. One of them is the “Error Code 088 – Unable to Process” issue.
In general terms, the error code appears if you are using the old magnetic strip cards because now they have been closed by the bank and they are offering EMV cards. But the error is still happening when a customer has replaced his or her magnetic strip card with an EMV card. When someone tries to withdraw money at ATM or makes a transaction at the shop, it receives the Error 88. This means that the chip card is not getting read by the ATM or POS or the chip of the card might be facing some issue. A few users said that it has been almost 10 days since they replaced their card and still are not able to use or make any transactions with that card. The issue is a bit more irritating because the error and its causes has not been mentioned in SBI’s directory.
Still, there are a few things that you can try to fix it yourself.
- In case if you are using a magnet strip card, visit your nearest SBI branch and replace it with an EMV card.
- Check if your account has been deactivated for some reason.
- If your card has been through something where it might have had a scratch or got bended, better visit your bank and ask for a replacement.
- The ATM or POS machine where you are using your card might be facing some issue. Try it somewhere else.
- Call the SBI customer care and check if there is some bank server issue going on.