COVID Tax Tip 2020-61: Millions of people will get their Economic Impact Payment by prepaid debit card

Internal Revenue Service (IRS) sent this bulletin at 05/26/2020 11:07 AM EDT

IRS Tax Tips

May 26, 2020

Issue Number: COVID Tax Tip 2020-61

Millions of people will get their Economic Impact Payment by prepaid debit card

Nearly four million people are being sent their Economic Impact Payment by prepaid debit card, instead of paper check. The determination of which taxpayers receive a debit card was made by the Bureau of the Fiscal Service, another part of the Treasury Department that works with the IRS to handle distribution of the payments.

These Economic Impact Payment Cards arrive in a plain envelope from Money Network Cardholder Services. The Visa name will appear on the front of the card; the back of the card has the name of the issuing bank, MetaBank®, N.A. Information included with the card will explain that the card is an Economic Impact Payment Card.

Those who receive 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

This free, prepaid card also provides consumer protections available to traditional bank account owners, including protection against fraud, loss, and other errors.

The card will come with instructions on how to activate and use it. Learn more at www.eipcard.com.

More information:
Economic Impact Payments by Prepaid Debit Card
Economic Impact Payment Card
Economic Impact Payment Information Center

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COVID Tax Tip 2020-61: Millions of people will get their Economic Impact Payment by prepaid debit card

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Issue Number: COVID Tax Tip 2020-61