Tuesday, May 30, 2023

What Does The Stimulus Debit Card Look Like

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What Will My Eip Card Look Like When It Arrives In The Mail

Your Money, Your Future: Stimulus debit cards may not look like you think

If you’re eligible for a third stimulus check and get that payment via EIP card, it’ll arrive at the address listed on your last tax return, in a white envelope marked with the US Department of the Treasury seal. The card will have the Visa name on the front and the issuing bank, MetaBank N.A., on the back. There will be information included with the EIP Card that explains it’s your economic impact payment. There’s also a return address from “Economic Impact Payment Card.”

Note that if you moved, you’ll need to inform the IRS and USPS of your new address. The card expires after three years.

During the first round of stimulus payments, because the envelope containing the first payment’s EIP card wasn’t clearly marked some people reportedly threw the letter away without opening it.

Your EIP card could contain far more money this time around.

When Will I Get My Eip Card

The IRS has already sent out over 90 million third stimulus checks via direct deposit. The IRS and Treasury announced Wednesday they sent 37 million more payments this week, with many coming as a paper check or EIP card. If you didn’t receive a direct deposit by March 24, expect your payment to arrive by mail “in the coming weeks.”

Here’s more about the timeline for getting your check, and how to track your payment. The IRS tool will also tell you how your money will arrive. Here’s how you can track your EIP card in the mail with a free USPS service.

I Received An Economic Impact Payment Visa Prepaid Debit Card From The Government In The Mail Is This A Scam

This is not a scam. The government is sending some people Economic Impact Payment Cards if they qualified for a stimulus payment and the IRS couldnt direct deposit the payment.

Your Economic Impact Card will come in a plain envelope from Money Network Cardholder Services along with important information about the card, instructions for activation, fees, and a note from the U.S. Treasury. The card itself will have the words VISA and DEBIT on the front and the issuing bank, MetaBank, N.A., on the back and should look like this:

Don’t Miss: What To Do If You Haven’t Gotten Your Stimulus Check

Economic Impact Payments Being Sent By Prepaid Debit Cards Arrive In Plain Envelope Irsgov Answers Frequently Asked Questions

  • IRS Statements and Announcements
  • IR-2020-105, May 27, 2020

    WASHINGTON As Economic Impact Payments continue to be successfully delivered, the Internal Revenue Service today reminds taxpayers that some payments are being sent by prepaid debit card. The debit cards arrive in a plain envelope from “Money Network Cardholder Services.”

    Nearly 4 million people are being sent their Economic Impact Payment by prepaid debit card, instead of paper check. The determination of which taxpayers received a debit card was made by the Bureau of the Fiscal Service, a part of the Treasury Department that works with the IRS to handle distribution of the payments.

    Those who receive their Economic Impact Payment by prepaid debit card can do the following without any fees.

    • Make purchases online and at any retail location where Visa is accepted
    • Get cash from in-network ATMs
    • Transfer funds to their personal bank account
    • Check their card balance online, by mobile app or by phone

    This free, prepaid card also provides consumer protections available to traditional bank account owners, including protection against fraud, loss and other errors.

    Third Stimulus Check: How Are The Official Paper Checks

    IRS 2020 stimulus check debit cards are target for ...

    Fast Facts for March 22, 2021. March 24th. That’s the date when the next round of stimulus payments drop according to the IRS. NO this is not a new round of stimulus. This is just for those who did not receive EIP3 last week. If you the Get My Payment portal still does not give you a distribution date, don’t panic The IRS is in the process of sending out a third round of stimulus checks to support Americans through the ongoing coronavirus crisis. And, in true American fashion, some people are already asking for more. According to back-of-the-envelope math, the federal government has issued 434 million payments in the past 12 months Here’s the problem – with the stimulus payments coming in the mail for millions, you need to know what to look for if you’re anything like me and rip up ‘junk mail’ before you open it Be on the lookout for what looks like junk mail. It happened a lot during the first stimulus round. The debit card looks like a non-descript card. It doesn’t have IRS on it, but the letter it.

    Read Also: What’s Included In The New Stimulus Package

    What To Know About Stimulus Checks Via Debit Card

    Millions of Americans have received economic impact payments, or stimulus checks, via direct deposit in their bank accounts. Now, nearly 4 million Americans are being sent stimulus checks by prepaid debit card instead of paper check, according to the Internal Revenue Service.

    Say what? Yes, if you were expecting a paper check or direct deposit, you may be receiving an unmarked envelope with a stimulus debit card instead.

    Economic impact payments, or stimulus checks, were authorized by the Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, in early 2020.

    Wondering how to manage these economic impact payment cards, avoid fees and get your cash? Here are answers to common questions, including:

    — What are economic impact payment cards?

    — Will I receive an EIP card?

    — What does the EIP card look like?

    — How do I use my economic impact payment card?

    — What fees will I pay when using the EIP card?

    — What if I accidentally throw away my EIP card?

    — Will using the EIP card impact my credit score?

    Read on for more information on receiving your stimulus check via debit card.

    What Are Economic Impact Payment Cards?

    EIP cards are Visa-branded debit cards issued by the government and stocked with your stimulus check money. Starting the week of May 18, eligible recipients began receiving EIP cards in the mail.

    Will I Receive an EIP Card?

    What Does the EIP Card Look Like?

    How Do I Use My Economic Impact Payment Card?

    — Using an in-network ATM to withdraw cash.

    What The Debit Cards Look Like

    Some people have confused the debit cards with scams and actually cut them up. The envelope that they arrive in does not say “Internal Revenue Service” on the return label, but rather “Money Network Cardholder Services”. Inside, there will be a visa debit card issued from Metabank, N.A. It will also come with instructions about how to activate and use the card. Although it might seem scammy, this really is your stimulus payment! And is yours to spend as you see fit, as long as you are careful to avoid a few pitfalls that come with fees.

    Don’t Miss: I Didn’t Get My 3rd Stimulus Check

    Who Qualifies For The Child Tax Credit Payments

    The IRS estimated 39 million households are eligible for the advance child tax credit. Children 17 years of age or younger are eligible for $3,000 each. Kids under the age of 6 qualify for $3,600 each. An 18-year-old dependent can qualify for a $500 payment. And a dependent between the age of 19 and 24 who is attending college full time can also qualify for $500.

    Privacy And The Eip Card

    Don’t mistake your stimulus money for junk mail! The payment may come on a debit card.

    Some people who have received the EIP cards have been concerned that the government might be able to see how they spend the money or even withdraw funds from the account. But under the Financial Right to Privacy Act, the government does not have the right to ask the card issuer about the balance of your card or what you’ve spent it on, and the card issuer is not allowed to volunteer that information. Your card is yours alone, and you can spend it on whatever you like.

    Recommended Reading: Where Is Stimulus Money Going

    How Can I Find Out If My Third Stimulus Payment Will Arrive As An Eip Card

    If you got an EIP card last time, does that mean you’ll get your money the same way with the third stimulus check? Not necessarily. With the second round, the IRS sent double the number of EIP cards. The Treasury says if you didn’t receive your payment via direct deposit by March 24, you should watch the mail carefully in the coming weeks for a paper check or a prepaid debit card.

    One new wrinkle this time around: The third round’s checks are going out during tax season. The IRS is using your most recent tax return it has on file, which could be your 2019 or 2020 return, to determine your payment.

    Why Is My Stimulus Being Mailed Instead Of Direct Deposit

    Why is your payment being sent by post? … If the IRS sent you a direct deposit but there was any kind of error the agency will send you a payment in the mail to expedite it. This happened in the second round of payments when payments were sent to temporary accounts set-up by tax preparation companies for filers.

    Read Also: Where’s My Stimulus Check 3 Irs

    How To Use Your Economic Impact Payment Prepaid Debit Card Without Paying A Fee

    This blog was originally posted on May 20, 2020 and was updated on June 1, 2020.

    If you recently received an Economic Impact Payment prepaid debit card from the government in the mail, this is money for you under the Coronavirus Aid, Relief, and Economic Security Act.

    Do not throw this card away. You will need this card to access your Economic Impact Payment. You must first activate your card by phone before you can use it. Once activated, your money is safe and secure on the card. Be sure to immediately report if your card is lost or stolen.

    Here are some common questions and tips to help you access your money and use your card, including how to do so with limited fees. While most transactions are free, small fees can add up, so know how you can make the most of your money.

    How To Use The Eip Card

    Stimulus Debit Card Looks Like Junk Mail. Don

    You can use the card the same way you would use any other Visa. You can shop online with it or at retail locations that take Visa, take money out from ATMS that are in network, and even transfer the funds to your own bank account. If your landlord accepts Visa payments, you can use the card to pay rent. You should even be able to use the card for peer to peer payment apps like Paypal or Venmo.

    You can check the card’s balance or activate it online or via mobile here, or call 800-240-8100. You will need your address and social security number to activate.

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    Highlights Of The Third Round Of Economic Impact Payments

    In general, most eligible people will get $1,400 for themselves and $1,400 for each of their qualifying dependents claimed on their tax return. Eligible families will get a payment based on all of their qualifying dependents claimed on their return, including older relatives like college students, adults with disabilities, parents, and grandparents. Unlike the first two payments, the third stimulus payment is not restricted to children under 17.

    Because these payments are automatic for most eligible people, contacting either financial institutions or the IRS on payment timing will not speed up their arrival.

    The amount of an eligible individual’s EIP3 will be based on the taxpayer’s latest processed tax return from either 2020 or 2019. This includes anyone who registered online at IRS.gov using the agency’s Non-Filers tool last year or submitted a special simplified tax return to the IRS. If the IRS has received and processed a taxpayer’s 2020 return, the agency will instead calculate the amount of the individual’s EIP3 based on that return.

    The IRS is working directly with the Social Security Administration, the Railroad Retirement Board, and the Veterans Administration to obtain updated 2021 information for recipients to ensure it is sending automatic payments to as many people as possible. More information about when these payments will be made will be provided on IRS.gov as soon as it becomes available.

    Who Might Receive Their Child Tax Credit Money On A Debit Card

    The IRS on May 17 said debit cards would be one of three ways it will deliver child tax credit payments each month, direct deposits and paper checks being the other two methods. Most of the payments are expected to go straight into bank accounts — 80% of tax refunds are sent as direct deposit, and the IRS said it is “committed to maximizing the use of direct deposit” for child tax credit payments. As with tax refunds and all three stimulus checks, people who don’t have direct deposit information on file with the IRS will receive either a paper check or debit card.

    The IRS told CNET it is still working out the details for who gets what, but in general:

    • The IRS sent stimulus payments on Direct Express debit cards — which the Social Security Administration and Department of Veterans Affairs use to send benefit payments — and on prepaid EIP debit cards to some people for all three rounds of payments. It isn’t clear if you’ll be able to change your payment delivery method in one of the IRS portals when they launch by July 1.

    Also Check: When Is The 4th Stimulus Check

    Stimulus Debit Cards On The Way And Scammers Are Aware

    HONOLULU Scammers are always looking for ways to trick people into giving out their personal information, but the Internal Revenue Service advises it will not be calling people about the stimulus debit card.

    Download the KHON2 app for iOS or Android to stay informed of Hawaiis breaking news

    Roughly 8 million pre-paid debit cards were mailed out to qualifying Americans since Friday, Jan. 15, as part of the federal aid prompted by the pandemic. The Visa debit card shows the stars of the flag and will come in an envelope with Economic Income Payment written on it.

    IRS Spokesperson David Tucker said, people who receive the card should know they are legitimate.

    Tucker said, If someone lets say, during 2018 or 2018 had a tax liability, and they did not get a refund, we did not have their direct deposit information, then you would have received a paper check because a lot of people did, or a debit card.

    However, for scammers, these stimulus payments could mean an opportunity for theft.

    What they try to do it is to send a text and say, you know, you are do an economic impact payment, Tucker said. And you need to provide your personal financial information to us in order to receive it.

    Tucker said the IRS will not text, call, email or contact people via social media.

    People who want to check the status of their stimulus payment can check directly on the IRS website.

    Why Some People Are Receiving Their Stimulus Checks Via Debit Card And How To Use Them

    Check your mail: IRS sending out stimulus checks in the form of prepaid debit cards

    Most Americans are receiving their much-awaited stimulus checks, also known as “economic impact payments”, via mail and direct deposit, but there’s actually one other way the money is arriving in people’s hands: debit cards.

    The Economic Impact Payment cards are going out to certain eligible taxpayers for whom the IRS does not have bank account information. The cards are sent to the last address on file with the IRS. About 4 million people have received payments this way. You can’t request your payment to come on a debit card–the IRS will just distribute it to you that way if you’re eligible.

    Read Also: When Are The Third Stimulus Checks Coming Out

    Does It Cost Money To Use An Eip Card

    You can see a long, detailed list of EIP Card fees here, but the general summary is that it should cost $0 to withdraw funds from an in-network ATM in the U.S. It’s $2 to withdraw funds from an out-of-network ATM, though this fee is waived the first time you do it. It costs 25 cents to check your balance on an ATM .

    It’s normally $5 to withdraw from your EIP Card using a bank teller over the counter, though this is also waived for your first time. If you have questions, you can call 1-800-240-8100 or see an FAQ here.

    Will I Receive An Eip Card

    If you’re eligible for an Economic Impact Payment and didn’t receive it via direct deposit or paper check, you could be among the approximately four million Americans getting a card.

    Chances are, you won’t be alerted ahead of time that your payment is coming in the form of a prepaid card: The decision to mail them out wasn’t widely known before the first batch was sent in May. Look out for a plain envelope from “Money Network,” a division of Fiserv, which is a global provider of financial services technology.

    In addition to the card, there should also be a letter in the envelope. Look for the names “MetaBank,” the retail banking arm of the Treasury Department, and “Money Network” in the letter to ensure it’s a legit card.

    You May Like: How To Qualify For A Stimulus Check

    Irs Issuing Millions Of Coronavirus Stimulus Payments By Debit Card: Here’s What To Look For

    Starting this week, the Treasury Department and the Internal Revenue Service are sending approximately 8 million second Economic Impact Payments by prepaid debit card.

    These EIP Cards follow the millions of payments already made by direct deposit and the ongoing mailing of paper checks that are delivering the second round of Economic Impact Payments as rapidly as possible.

    For those who don’t receive a direct deposit, they should watch their mail for either a paper check or a prepaid debit card. To speed delivery of the payments to reach as many people as soon as possible the Treasury’s Bureau of Fiscal Service is sending payments out by prepaid debit card.

    IRS and Treasury urge eligible people who don’t receive a direct deposit to watch their mail carefully during this period. The prepaid debit card, called the Economic Impact Payment card, is sponsored by the Bureau of the Fiscal Service and is issued by Treasury’s financial agent, MetaBank®, N.A. The IRS does not determine who receives a prepaid debit card.

    Taxpayers should note that the form of payment for the second mailed EIP may be different than the first mailed EIP. Some people who received a paper check last time might receive a prepaid debit card this time, and some people who received a prepaid debit card last time may receive a paper check.

    More information about these cards is available at EIPcard.com.

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