If you look around at all the major credit card and check card providers, you'll see that the chip card is not just a fad, but it is here to stay. This includes the Red River Bank CheckCard. Changing to the chip card is an added step we've taken for your security and privacy.
Red River Bank customers existing CheckCard will soon be replaced with a new EMV chip CheckCard. Your new chip card will come via U.S. mail and the only thing you have to do is activate it, destroy your CURRENT card and notify online merchants once you receive your new card—see instructions below.
What is an EMV/Chip card? EMV stands for Europay, MasterCard®, and Visa®, and it's also known as a chip card. These EMV chip cards are more secure because they generate a one-time use code. This makes it nearly impossible to counterfeit, therefore drastically reducing fraud on your account.
What to Expect: Your new EMV chip CheckCard will have a new card number but your current Personal Identification Number (PIN) will remain the same. Once you receive your new chip card in the mail, you will need to:
- Activate—your new chip card within the following 30 days by using it at any ATM or retail location.
- Destroy—and dispose of your current card—it will be canceled in 60 days.
- Notify —any automatic bill pay merchants or services of the new card number.
If a merchant does NOT have a chip-enabled terminal, EMV cards can be swiped just like a normal credit or debit card. The transition to the new chip card should be a smooth one, but should you have any questions or issues, please call your local branch for assistance.