Doh! Some people have thrown out their stimulus debit card, thinking it was junk mail.
The U.S. Treasury Department and the Internal Revenue Service began sending out Economic Impact Payments as prepaid debit cards last week. So almost 4 million Americans still waiting for their cut of the $2.2 trillion CARES Act can expect to get their stimulus money in the form of an EIP Card, as opposed to a paper check.
Their neighbor also told the outlet that he found his prepaid debit card suspicious because it bore no official federal insignia, and the return address was Omaha, Neb. “Doesn’t sound like the federal government to me,” he said. iframe.twitter-tweet { width: 100% !important; } What’s more, the IRS also issued a press release on Wednesday afternoon with the subject line: “Economic Impact Payments being sent by prepaid debit cards, arrive in plain envelope.” It also answered several “frequently asked questions” about the cards, such as how the cards could be used without fees.
Related:Do I have to pay back my $1,200 stimulus check? Don’t fall for these 5 myths about the stimulus payments How will I receive my card, and what does it look like? The EIP Cards are being sent to the most recent mailing address filed with the IRS. The cards will arrive in a plain envelope from Money Network Cardholder Services. The Visa name will appear on the front of the card, and the back of the card will feature the name of the issuing bank, MetaBank, N.A. The Welcome Packet will include information explaining that the card is an Economic Impact Payment Card.
For both shopping in stores and online, there is a $2,500 limit per transaction and per day limit. And the merchant’s cash back limit may be less. Cash from a bank or credit union teller: You can visit any bank or credit union branch to withdraw cash, but fees may apply You’ll need to know your balance beforehand, since the teller cannot tell how much money is on your EPI Card. You’ll also need to know your PIN for the card, and you will probably be asked for an additional form of ID, such as a government-issued photo ID card. Then you’ll ask the teller for the amount that you would like to withdraw.
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