4 million stimulus payments to be delivered via debit card

Daniel Fowler
May 21, 2020

The Treasury Department said it has already delivered more than 140 million stimulus payments worth $239 billion to Americans.

According to the statement from the IRS, which is overseen by the Treasury Department, recipients will immediately be able to activate and create a PIN number in order to use their prepaid card by following the instructions mailed with it.

By putting stimulus payments on debit cards, the government is providing Americans with quick and convenient financial relief when they need it most.

"This is generally the address on your most recent tax return or as updated through the United States Postal Service (USPS)", it said, repeating that your payment will be made by check or prepaid debit card.

On the subsequent page, the portal will provide information about your payment status, whether it's been scheduled or whether it remains undetermined.

Who will get the prepaid debits cards?

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"If you receive an Economic Impact Payment Card, it will arrive in a plain envelope from 'Money Network Cardholder Services, '" it said. The cards will begin appearing in mailboxes this week for some four million taxpayers who didn't have direct deposit information on file with the IRS.

The agency has also issued warnings to consumers about scams related to the novel coronavirus, including text messages, websites and social media posts seeking to obtain money or personal information from those still waiting for their economic impact payment.

The Treasury's financial agent, MetaBank, will mail out the EIP Cards to eligible recipients starting this week.

See the Treasury's announcement for more information.

If you have questions, the IRS finally opened a call line devoted to stimulus payments, which is pivotal for the millions of Americans who do not have home internet access. At this time, taxpayers can not make a selection to receive a debit card.

The distribution, in which USA residents receive one-time direct payments of $1,200 per adult making up to $75,000 a year, has had some hiccups - including an overwhelmed website, payments to deceased taxpayers and money sent to inactive accounts.

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