Check your junk mail — 4 million Americans are getting their stimulus payments as prepaid debit cards, not checks
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Don’t throw away your junk mail — or you might throw away your stimulus payment.
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.
Problem is, these Visa VISA, +1.89% cards are being issued by MetaBank (the Treasury’s financial agent) and delivered in plain envelopes from Money Network Cardholder Services — neither of which are familiar names for many folks. So reports of people mistaking these for pre-approved credit-card junk mail or scams have been popping up across the country. And in some cases, people have even thrown away the debit cards containing their long-awaited stimulus money before they realized their mistake.
Thomas and Bonnie Moore of southwest Florida are one such pair. They told local CBS VIAC, -3.19%affiliate WINK-TV that they chucked their EIP Card because they were expecting a stimulus check from the U.S. Treasury. “My husband looked at it, briefly read it and he said, ‘Do you want this?’ And I said, ‘I don’t need another fake card,’ so he cut it up in little pieces,” Bonnie said. “The next thing you see is I am in the garbage can trying to pull out all of the pieces together, which did not work.”
They are trying hard to make sure people don’t get their money.
May 29, 2020 at 12:51 AM #319995leftcoast mountainsParticipant
- Total Posts: 4,019
sending these things out. At first I didn’t like it. But I use it right away. But I guess somebody is making money off these debit cards. It’s the nature of our society these days. Ugh.
May 29, 2020 at 12:57 AM #319997Cold Mountain TrailParticipant
- Total Posts: 8,442
what’s that 1.89% about? are they charging interest?
if so, what a shitshow.
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