Decorah Bank & Trust is warning people: Don't throw out your Economic Impact Payment Card

Posted: Sun, May 31, 2020 5:50 PM

Decorah Bank & Trust staffers have received questions from people receiving their Economic Impact Payment (EIP) in the form of a prepaid debit card, questioning the legitimacy of the card.

Nearly 4 million people are being sent their payment in this way, instead of a paper check. Decorah Bank & Trust is reminding the public payments will be on a prepaid debit card, called an "Economic Impact Payment Card" which arrives in a plain envelope from "Money Network Cardholder Services."

A news release from the IRS has stated, "The Visa name will appear on the front of the Card; the back of the Card has the name of the issuing bank, 'MetaBank.' Information included with the Card will explain that the Card is your Economic Impact Payment Card".

If you have received an Economic Impact Payment Card, you should:
•   Read the Cardholder Agreement and Fee Schedule, located at www.EIPcard.com
•   Activate your EIP Card account, set your 4-digit PIN and get your balance by calling 1.800.240.8100
•   Sign the back of your EIP Card
•   Keep your EIP Card number in a safe place

How to use your EIP Card:

•   Shop anywhere VisaⓇ Debit Cards are accepted in-store, online or by phone, including paying bills.
•   Get cash back at the register with PIN debit purchases at participating merchants
•   Get cash surcharge-free at any in-network ATM. Go to www.EIPcard.com to see eligible ATMs

How to get your balance

• Log into your account at EIPcard.com, you must register as a new user
• Call Customer Service at 1.800.240.8100

For more information, visit www.EIPcard.com