ABOUT ATM/DEBIT CHIP CARDS
Sterling Bank has always taken debit card
security very seriously and now has upgraded your Visa debit
card to make it even more secure. Your new card is called a chip
card, EMV® (Europay, MasterCard®, Visa®) card or “smart
card.”Chip cards promise to make debit card transactions safer
than ever before. These cards use an advanced embedded computer
micro-chip to process your transactions by creating a unique
encrypted authentication code for each transaction. This safety
feature makes the chip card extremely difficult to counterfeit
and provides an additional layer of security to help prevent
All of Sterling Bank’s debit cards will be
reissued with EMV micro-chip technology upon their current
expiration dates. Upon receipt of your new chip card, please
destroy your previous debit card and activate the new chip card
immediately. Using the new chip card is easy! You simply insert
the chip end of the card into the retailer’s card reader when
requested and it will prompt you to remove your card at the
Please - don’t forget to remove your card and
take it with you! In addition to the embedded micro-chip, the
chip cards also have the magnetic strip on the back so you can
continue to make purchases at retailers who do not yet have EMV
micro-chip reading terminals. While the use of chip cards won’t
completely eliminate card fraud, they should have a significant,
positive impact. Our investment in EMV micro-chip technology is
just one of the ways we’re continuing to provide the secure
products and services you need to conveniently manage your
What is EMV?
EMV (Europay, MasterCard, Visa) is the global
electronic transaction standard named after the three
organizations that created it.
What is a chip card?
A chip card has both a magnetic strip and an
embedded EMV micro-chip. The chip helps reduce fraud by making
it more difficult to duplicate the card or make purchases
without authorization. Chip cards are already in use around the
Why are chip cards being implemented?
Current magnetic strip cards can be easily
copied (skimmed) with inexpensive card reading devices allowing
criminals to reproduce counterfeit cards. The use of EMV
micro-chip cards is expected to significantly reduce debit and
credit card fraud.
How do I make chip card transactions?
At retailers with chip-reading terminals,
insert the chip end of card into the reader, follow prompts on
the terminal and either sign or enter your Personal
Identification Number (PIN) as you did with your old card. At
retailers without chip terminals, you should swipe your card and
sign as you do currently. You can also continue to use your card
as before for online purchases, payments and at the ATM.
Is the chip card different from my magnetic
Your new chip card comes with the latest in
anti-fraud technology. The card’s micro-chip will validate your
card by creating a unique encrypted transaction code every time
you use it. A chip card must be inserted (not swiped) into a
card reader to utilize the micro-chip technology. So please –
remember to remove your card and take it with you when your
transaction is completed! It is important to remember that a
chip card’s security features work only for in-person or card
present transactions at an EMV micro-chip reading terminal or
ATM. Online retail transactions using your chip card are not
provided the same security because the technology only works if
the card’s micro-chip is physically read.
Are there additional fees associated with the
No, these security enhancements are provided
by Sterling Bank free of charge.
If I have recurring payments set up with
several merchants using my Sterling Bank debit card, do I need
to contact these merchants regarding my new debit card?
Your new debit card will have a new
expiration date only. Since the card account number and PIN
remain unchanged, your recurring payments should not be
impacted. However, as a precaution, you may want to notify these
merchants of your new card’s expiration date and confirm that
recurring payments will continue without interruption.