Stimulus Funds Debit Card
Americans paid over 34 billion in overdraft fees last year many of them on everyday purchases.
Stimulus funds debit card. What you need to know. Getty the irs has sent out more than 140 million economic impact payments guaranteed by the cares act. The cards are going out to certain eligible taxpayers who filed tax returns but for whom the irs doesn t have bank account information.
Here s what those people should be aware of. The debit cards can be used to withdraw cash from an atm transfer funds to. 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.
About 8 million americans will receive their second stimulus check or economic impact payment via prepaid debit card. The stimulus payment is loaded on the debit card. 600 stimulus payments for some americans will come as a visa debit card.
The stimulus funds on your debit card will never expire but your card itself might. If that happens you ll need to call the irs to either transfer the funds to a new card or get a check. About 8 million 600 stimulus payments will come on a debit card.
Stimulus payments continue to hit consumer s mailboxes and if you got your payment on a prepaid debit card you can get that money transferred to your bank account or turned into cash. The direct stimulus payments which are worth up to 1 200 per individual and up to 2 400 per couple were included. You can get cash from your stimulus debit card at any atm up to 1 000 per day though some bank atm limits may be lower.
The agency will send out 8 million eip cards to some eligible individuals in the second wave of economic stimulus.