Still haven’t gotten your stimulus money? IRS is now sending prepaid debit cards
The Internal Revenue Department is sending out 4 million prepaid debit cards loaded with coronavirus relief funds, the Treasury Department said.
The debit cards will go to people who do not have bank account information listed with the IRS, the department said. The Economic Impact Payment cards will start going out this week.
The CARES Act, signed into law by President Donald Trump on March 27, gave $1,200 in direct relief to most Americans, plus $500 for every minor child.
The Treasury Department said Monday it has already sent out $239 billion in economic impact payments to more than 140 million people.
The cards can be used like any other Visa debit card and have the same protections for loss and fraud, officials said.
“EIP Card recipients can make purchases, get cash from in-network ATMs, and transfer funds to their personal bank account without incurring any fees. They can also check their card balance online, by mobile app, or by phone without incurring fees,” the Treasury Department said.
“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,” said Treasury Sec. Steven Mnuchin in a news release.
“Recipients can immediately activate and use the cards safely,” he said.
This story was originally published May 19, 2020 at 9:34 AM with the headline "Still haven’t gotten your stimulus money? IRS is now sending prepaid debit cards."
