Debit card in mail part of stimulus; it’s no scam

Residents are being warned not to mistake their stimulus payment for a scam after millions of prepaid debit cards were mailed out as part of the $2 trillion CARES Act, which offers a one-time payment of up to $1,200 in federal assistance to some Americans.

Millions of Americans have already received their assistance, either in the form of a paper check or direct deposit. But nearly 4 million others will receive their payment in the form of a prepaid Visa debit card, also known as the Economic Impact Payment Card.

The card comes in a plain envelope from Money Network Cardholder Services, according to a news release from the U.S. Treasury Department.

Those who receive the card can get cash from ATMs, transfer funds to a personal bank account, make online and retail location purchases where Visa is accepted and can check their card balance online or by phone without fees, according to the IRS. MetaBank is the bank issuing the card, and its name should be displayed on the back of the card.

“Treasury and the IRS have been working with unprecedented speed to issue Economic Impact Payments to American families. Prepaid debit cards are secure, easy to use and allow us to deliver Americans their money quickly,” Treasury Secretary Steven Mnuchin said in the release. “Recipients can immediately activate and use the cards safely.”

The cards are being sent to residents without bank information on file with the IRS and who had their tax return processed by the Austin or Andover, Mass., IRS Service Center, according to the release.

Those who earn less than $75,000 annually will receive the full $1,200, along with an additional $500 for each child in a household. Residents who earn more than $99,000 are exempt.

For more information on the Economic Impact Payment card, visit the Money Network Cardholder Services website. For more information on the stimulus payments, visit the IRS website.