Some stimulus checks arriving as debit cards
IRS says 8 million people will receive $600 stimulus payments via pre-paid debit card; don’t throw it away.
About 8 million people will be receiving their $600 stimulus payment through a prepaid debit card, the IRS said in a press release. So those who didn’t receive a stimulus payment via direct deposit should watch the mail carefully.
The prepaid debit cards, or the Economic Impact Payment Card, will arrive in a white envelope with the message “Not a bill or an advertisement. Important information about your Economic Impact Payment.” If you see this piece of mail arrive, don’t throw it away.
The IRS said that issuing payments through a debit card helps speed up the delivery “to reach as many people as possible.” Some people who may have received a paper check for the first stimulus payment could receive a debit card this time around and vice versa.
The cards received for the first stimulus payment will not be reloaded with the second stimulus payment.
The card will have the Visa logo on the front and Metabank, the Treasury Department’s issuing bank, on the back of the card.
If your card was accidentally discarded or destroyed, the IRS said to call Economic Impact Payment customer service at 1-800240- 8100 and select the “lost/stolen” option. The card will be deactivated to prevent anyone else from using it and a replacement card will be sent at no cost.
When activating the card by phone, you’ll be prompted to set up a fourdigit PIN number.
The debit card can be
used to make purchases online and in stores. Funds can also be transferred from the card to a bank account online at EIPCard.
com or with the Money Network Mobile App. Cash can also be withdrawn from the card at an ATM.
According to the IRS, most people will receive a $600 payment and $1,200 for married couples filing a joint tax return. Those with qualifying children will also receive $600 for each qualifying child and dependents who are 17 years or older are not eligible for the child payment.
Anyone who didn’t receive a stimulus payment can claim it when filing their 2020 taxes, the IRS said. The Economic Impact Payments are referred to as the Recovery Rebate Credit on Form 1040 or Form 1040-SR.
More information about the debit cards can be found online at EIPcard.com.