As the IRS continues to deliver Economic Impact Payments, nearly 4 million people are being sent their payment by prepaid debit card, instead of paper check. Concerns have emerged that some recipients believe what they are receiving is junk mail, and they could be discarding their stimulus payments. The IRS 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.”
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.
Questions related to stimulus checks may be answered here:
- Economic Impact Payments: www.irs.gov/eipfaq
- Get My Payment tool: www.irs.gov/getmypaymentfaq
- Please go to EIPcard.com for more information about prepaid debit cards.