Stimulus Eip Debit Card

Getty the irs has sent out more than 140 million economic impact payments guaranteed by the cares act.

Stimulus eip debit card. If you do get an eip card with your second stimulus payment it s essentially a prepaid visa debit card and you probably know that prepaid debit cards often come with fees. The agency will send out 8 million eip cards to some eligible individuals in the second wave of economic stimulus. What does it mean for stimulus checks.

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. Around 4 million americans will be sent their stimulus payments via prepaid debit card. Your economic impact payment card eip card contains the money you are receiving under the covid related tax relief act of 2020 or the coronavirus aid relief and economic security act cares act.

What is an eip card. Formally called eip economic impact payment cards the debit cards are an alternative to receiving a paper check. An economic impact payment card is a prepaid debit card that the us treasury used to distribute some stimulus payments under the march cares act instead of direct deposit or a paper check.

Department of the treasury bureau of the fiscal service as part of the us debit card program. They can also withdraw cash at an atm. An economic impact payment card is a prepaid debit card that the us treasury used to distribute some stimulus payments under the march.

The eip card is sponsored by the u s. What is the stimulus check debit card.