Last month, my bank sent a letter last month to all members notifying them they would be getting a new MasterCard debit card (with new number). The new card arrives last week. They would like to shut off the old debit card soon.
Why would they do this? The only explanation I could think of is that someone (hacker) may have obtained a list of some or all of the banks debit card information.
How much exposure do I have here? Should I close out my account and bank elsewhere?
I would call the bank and ask them about exposure risks. This has never happened to me, but I live in SC and our DOR was hacked. The hackers gained personal info, banking info, basically all the stuff you would put in a tax return. Easy way to steal identities. All the residents of the state got out of it was a free year of credit monitoring and banks put out notices to close accounts and open new ones with new numbers if you ever put your account info on a tax return.
I believe that if your bank was just "changing systems" then they would convert all the debit numbers over to the new system, rather than incur the costs of generating new cards for all of thier members.
My bank issued new cards and went from twelve digits to sixteen. Purely an accounting item, not anything else.