Reported by: banking|Updated: August 10, 2017
JPMorgan Chase has officially canceled its in-branch instant debit card issuance program. The bank has been gradually phasing out the program over the last few months. The service, which was introduced in 2012, allowed customers who lost their debit card to print out a new one at nearly half of the bank’s 5,300 branches, rather than having to wait up to five days for it to be mailed. The bank cited the increase in identity fraud to open a new debit card and the need to reduce costs as reasons for the withdrawal of the facility. Instant issuance is a feature that bank customers are clearly interested in.