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U.S. Treasury Department Economic Impact Payments


Many citizens are aware of the economic Impact payments but many still have not yet received it. That amount to those who still not received one could be coming on a pre-paid Visa Debit card instead of paper check. In a press release last week, the U.S. Treasury Department announced it would be sending Economic Impact Payments but this will come by pre-paid Visa Debit card to nearly 4 million Americans and not by paper check as was used earlier. The Treasury Department further said if the IRS does not have your banking information on file, you could get one of these Debit Cards by mail. Economic Impact Payments, or EIP Card recipients, can make purchases, get cash from ATMs, and transfer funds to their bank account without incurring any fees. Recipients can also check their card balance either online, by mobile app, or by phone –again - without fees. The EIP Card can be spent online, at ATMs, or at any retail location where Visa is accepted. This free, prepaid card also provides protections available to those with traditional bank accounts, including protection against fraud, loss, and other errors. So far, 140 million Americans have received their EIP for a total of 239 Billion dollars. When the Debit card comes in the mail, it will have an Omaha Nebraska return address on the envelope, and the letter inside is from Money Network or Meta Bank. Meta Bank is the company the Treasury Department hired to distribute the Economic Impact Payment debit cards. That has been confusing to some but that is the card on which many have been waiting. KSHN.com has a link to the Treasury Department Press Release on kshn.com. So, again, if you have not gotten your Economic Impact Payment, it could soon be coming, not as a paper check, but in a pre-paid debit card.


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