Don’t Toss That Envelope—IRS Issues Some Stimulus Money via Visa Debit Cards

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The US Treasury and the Internal Revenue Service last week sent out around 8 million Economic Impact Payment debit cards as part of the latest installment of CARES Act pandemic-relief funds. The cards were preloaded with a set amount of funds that recipients may use to make purchases online or in stores wherever Visa debit cards are accepted.

“These cards are being issued to eligible recipients across all 50 states and the District of Columbia. Residents of the western United States are generally more likely to receive an EIP Card,” the IRS website stated. The amount of money on a card depends on the recipients’ income, gleaned from their tax filings. The maximum amount of a single taxpayer can receive is $600, according to CNet.

The IRS said on their website that the cards “provide certain protections against fraud, loss and other errors,” and described them as “safe, convenient and secure.” 

Many business owners across the country were surprised when the cards showed up on their doorstep; they had been thinking they would receive their next stimulus installment in the form of a check or a direct deposit to their accounts, as had happened with past installments.

Some even thought the cards were a scam. A KTVB news report warned viewers not to “trash” their “stimulus money by mistake.” 

You can check the status of your next pandemic payment using the IRS’ Get My Payment tool online. If you lost or accidentally trashed your card, you can request a free replacement through MetaBank Customer Service.