Economic Impact Payments Prepaid Debit Cards - Legitimate
Economic Impact Payments
Prepaid Debit Cards - Legitimate
Over the past week, the Consumer Fraud Protection Division of the 18th Judicial District Attorney’s Office has fielded several calls from concerned citizens who have received a Visa debit card in the mail. The card is legitimate. Do not throw away or cut up the card! The IRS has sent 4 million payments by prepaid debit cards, or Economic Impact Payment (EIP) cards out to certain eligible taxpayers who filed tax returns, but for whom the IRS does not have bank account information. The stimulus payment is loaded on the Visa debit card.
The EIP card will arrive in a plain envelope from “Money Network Cardholder Services.” The Visa name will appear on the front of the EIP card; the back of the card has the name of the issuing bank, MetaBank, N.A. Instructions about the card and on how to utilize the card are included in the mailing.
According to the IRS, “those who don't receive their Economic Impact Payment by direct deposit, will receive their payment by paper check, and, in a few cases, by debit card. The determination of which taxpayers receive a debit card will be made by the Bureau of the Fiscal Service (BFS), another part of the Treasury Department that works with the IRS to handle distribution of the payments.”
The Internal Revenue Service (IRS) generated a news release on May 27, 2020 with the following information about the card:
WASHINGTON – As Economic Impact Payments continue to be successfully delivered, the Internal Revenue Service today reminds taxpayers that some payments are being sent by prepaid debit card. The debit cards arrive in a plain envelope from "Money Network Cardholder Services."
Nearly 4 million people are being sent their Economic Impact Payment by prepaid debit card, instead of paper check. The determination of which taxpayers received a debit card was made by the Bureau of the Fiscal Service, a part of the Treasury Department that works with the IRS to handle distribution of the payments.
Those who receive their Economic Impact Payment by prepaid debit card can do the following without any fees.
- Make purchases online and at any retail location where Visa is accepted
- Get cash from in-network ATMs
- Transfer funds to their personal bank account
- Check their card balance online, by mobile app or by phone
The news release continues with a series of frequently asked questions about the pre-paid debit cards. For further information, please visit www.irs.gov.
DA – 18th Consumer Protection Line: 720-874-8547