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GitaarLAB
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YES, but there is a big chance (depending on region) that a (internally) chip-enabled ATM will reject the card!

The most common 2 problems for an ATM to reject a card are:

  • a dirty or scratched magstripe
  • an erased magstripe
    • by exposure to magnets (commonly relatively small refrigerator magnets)
    • demagnetizer (like electronic article surveillance (EAS) or the one you(r dad) use(s) to demagnetize his MC/VHS heads)

I can confirm effectiveness on all three of the above, but note 2 things:

  • Quite some ATM's don't open their card-slot if they don't detect the start of the magstripe even if they would use the chip (if available) internally!
    (So my vote would go for magnetizing OR leave beginning intact and mangle the remaining +/- 2/3th of the magstripe)
  • again, (depending on country/ATM) the ATM might reject a card with an invalid magstripe according to the manufacturers of SkimProt who sell a special magstripe sticker:
    If the sticker is placed incorrectly or its integrity is damaged, ATMs may not accept the bank card.
    The sticker is:
    A magnetic stripe containing a code, instructing ATMs to use the card’s chip and zeros in place of card information.

All-in-all, some food for thought, to which I want to add that the contact-less problem seriously outweighs this one.
One might want to do some trial and error (don't forget to have some cash or alternative card available) in their regular region BUT one should keep murphy's law in mind: when you unexpectedly need your scrambled magswipe to work (school/field/company -trip etc), it most probably won't.
The skimprot stickers are said to work in 80% of the world, seems supported by spec and best of all: you can remove them in a pinch! I'm in no way affiliated to them, I only connect & share what I know/read.
Please, for the sake of security, correct me if I'm wrong/forgot something!

Sidenote: apparently the third (bottom) read/write track (the one that holds your 'encrypted' pin) is usually not used by the majority of banks (according to some sources like this.

GitaarLAB
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