When using a payment instrument such as a bank card for online transactions, you’ve likely encountered a field for entering “MM/YY” data. What does it mean, where can you find this information, and why is it needed? Let’s explore further.
What does MM/YY mean?
The expiration date of a bank card is indicated in the format MM/YY, where:
- MM represents the month (numerical order).
- YY refers to the last two digits of the year.
For example, "08/26" means the card is valid until the last day of August 2026.
Typically, the MM/YY information is displayed on the front of the card below its number. This field may be labeled with terms like valid thru, month/year, or expiration. You can also find the expiration date in your bank’s mobile app, allowing you to check it at any time.
While the card is valid, you can fully use its functionalities as defined in the agreement between you and the bank—purchases, online payments, transfers, and more. However, once the card expires, you won’t be able to use it*.
*during martial law, the validity of bank cards may be extended according to the bank’s internal policies.
It’s important to note that if the card’s validity has technically been extended by the bank but its expiration date hasn’t been updated, functions requiring the expiration date (e.g., most online payments) will no longer work.
Why do cards have limited validity?
Bank cards have an expiration date for several reasons:
- Physical wear and tear. Over time, the card’s surface, magnetic strip, or chip may become damaged and lose functionality.
- Enhanced security and services. Security technologies are constantly improving, and replacing the card ensures access to the latest security features. For example, modern cards include not only magnetic strips but also chips for contactless payments.
- Updating personal data. Card renewal provides an opportunity to update client information, such as passport details, phone numbers, or addresses, which clients are required to inform the bank about.
How is MM/YY used in payments?
Entering the card's expiration date is mandatory when paying for goods or services online. Typically, you’ll be required to provide:
- Card number: a 16-digit number on the front of the card.
- MM/YY: the expiration date, e.g., 08/26 (August 2026).
- CVC2/CVV2 code: a three-digit security code on the back of the card.
This information enables the payment system to verify your payment instrument and process the transaction.
As we can see, MM/YY plays a vital role in payment security. You should only enter these details on trusted websites. For tips on safe online shopping, read our article “How to shop online safely”
What to do if your card is about to expire?
If your card is nearing expiration, it must be reissued. The bank will issue you a new card with a different number and CVV code, but your account number will remain the same. This means you won’t need to transfer your remaining funds, update payment details, or reset auto-payments.
Order the reissue during the last month of the card’s validity to avoid access issues.
Reissue process
The reissue speed depends on the type of payment card and the associated product:
- Instant unnamed cards can be issued immediately at a branch.
- Named cards take up to 5 business days to produce, as they include your name and surname.
- Some banks offer urgent issuance of named cards within 24 hours, though this may incur an additional fee.
Reissue cost
At Agroprosperis Bank, reissuing a payment card due to expiration is free of charge. However, early reissue due to loss or damage usually involves an additional fee.
The MM/YY data is a crucial element for the security and convenience of using your payment card. Remember to check your card’s validity regularly to avoid potential inconveniences, especially if you use it for recurring payments or plan to travel abroad.
