Tuesday, January 19, 2021
Approximately eight million Americans will receive their Economic Impact Payment by prepaid debit card instead of by direct deposit or paper check. The stimulus checks of up to $600 per individual were authorized through the most recent COVID-19 relief package.
Taxpayers should note that the form of payment for the second mailed EIP may be different than the first mailed EIP. Some people who received a paper check last time might receive a prepaid debit card this time, and some people who received a prepaid debit card last time may receive a paper check.
If Get My Payment on irs.gov shows a date that a payment was mailed, those expecting payments are urged to watch the mail for either a paper check or debit card. The cards will arrive in a white envelope that prominently displays the U.S. Department of the Treasury seal. 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 an 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; and check their card balance online, by mobile app or by phone.
The free, prepaid card also provides consumer protections available to traditional bank account owners, including protection against fraud, loss and other errors.
To learn more, visit irs.gov/coronavirus/get-my-payment.