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Stimulus check envelope6/4/2023 ![]() ![]() ![]() People can also transfer the money to their bank account for no fee, but that process has caused some headaches. ![]() There’s no fee when using an in-network ATM. People who receive their stimulus payment on a EIP card can keep the money there and use it like a regular debit card until they’ve spent every penny. You will then be prompted to create a four-digit PIN. You have to call 1-80 and give the automated service your name, address, and - close your eyes, cyber-security experts - your Social Security number. It’s not my bank and no one I do business with,” Wade told the station. Especially if Money Network is not your bank. “At first glance you would throw it away. In Texas, Vicki Wade told KCEN TV that she was suspicious of the card because she’s never heard of Money Network Cardholder Services or MetaBank, which the Treasury Department calls its “financial agent.” She was also suspicious of the instructions to give her personal details to activate the card. “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 Moore said. One Florida woman told WINK-TV that her card ended up in tiny pieces at the bottom of the trash can. That’s far fewer than the 140 million who received payments by check, direct deposit, or Direct Express card, which is the Treasury-sponsored card for people who receive Social Security but don’t have a bank account.Īccording to the IRS, the card will arrive in a “plain envelope from Money Network Cardholder Services.” The vague, spam-like name on the envelope, along with the government’s lack of communication about the debit cards, has led some people to throw them away. Roughly 4 million, according to the Treasury Department. The Treasury Department also touted a handful of other benefits the cards provide, including the ability to check the card’s balance online and built-in protections against fraud and loss. “Recipients can immediately activate and use the cards safely.” “Prepaid debit cards are secure, easy to use, and allow us to deliver Americans their money quickly,” Mnuchin said in the release. The cards are going to people whose bank-account information is not on file with the IRS, making direct deposit impossible. Last week, in a press release from the Treasure Department, Secretary Steve Mnuchin said the prepaid cards allow the government to send out stimulus payments more “quickly” than checks. Why are some payments coming on a debit card?īecause it’s faster than sending a check. Here’s what we know about the EIP debit cards and the many issues people are having with them. The Economic Impact Payment (EIP) Cards began hitting mailboxes late last week and the problems started immediately, with some people mistaking the envelopes for junk mail and throwing them away and others finding misspelled names and a buggy online portal. Last Monday, after millions of Americans had received their stimulus payments by direct deposit or paper check, the Treasury Department announced plans for a new method of payment: prepaid debit cards. Photo: Brendan Smialowski/AFP via Getty Images ![]()
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