The new stimulus checks are part of a $1.9 trillion pandemic relief bill that's headed for crucial votes in Congress. You can also get cash back at participating merchants after making a purchase: select "debit" on the keypad at the register, enter your four-digit PIN, select "yes" for cash back and enter the amount you want back. Opinions expressed by Forbes Contributors are their own. Before using your card, you have to call 1-(800)-240-8100 to activate it. Your card will be deactivated and a replacement will be sent to you. A stimulus check is a payment authorized by the U.S. government to help cope with the financial impact of coronavirus. Don't have an account? More from Invest in You:Avoid this investing mistake as coronavirus fears grip marketsHere's the secret to multiplying your savingsSave $1,000 without sacrificing anything you really love. The … $150,000 for heads of household. Did you forget your username or password? Deposit to a bank account if they accept US checks … Anything that fails to provide this information very well could be a scam. You'll also be asked to set a four-digit PIN, which you'll use for any ATM transactions, automated assistance and to hear your balance. You can check your card balance online (you have to register as a new user on eipcard.com, which provides information on how to use the cards) or … Global Cash Card Login with your username and password. If you have an existing Direct Express card, you can still expect to receive your stimulus payment on that card. The debit cards, called Economic Impact Payment (EIP) Cards, will be sent to 4 million taxpayers instead of a paper check or direct deposit. Watch Out for Scams. Most of those who don’t have a bank account on file, or didn’t update their information with the “Get My Payment” tool on time, have been sent physical checks. Additionally, with the H-E-B Prepaid card, customers can easily set up direct deposit, providing faster 1 access to economic stimulus funds, income tax returns, unemployment benefits, Social Security benefits or wages. Some large retailers will cash your stimulus check for you. Once their accounts are activated, customers are assigned a routing and account number to set up direct deposit. The COVID-19 pandemic puts millions of people into vulnerable, emotional positions—and scammers are bound to try and capitalize on it. In addition to the card, there should also be a letter in the envelope. The Federal Trade Commission (FTC) created a webpage to warn consumers about potential coronavirus-related scams and how they can protect themselves. I've been featured as a personal finance expert in outlets like CNBC, Yahoo! In general, Americans who qualify for a stimulus check are taxpayers earning an adjusted gross income of less than $99,000 if single or $198,000 if married filing jointly. And now partnerships with PayPal, Square, and others are injecting a … However, there's been confusion around the cards, which arrive in a plain envelope from "Money Network Cardholder Services," with the name of the issuing bank, MetaBank, N.A., on the back. For questions about Economic Impact (“stimulus”) Payments, please click here. Nearly two-thirds of Americans have already received the government’s second round of stimulus checks as part of the latest $900 billion Covid relief bill. If you are in the US, cashing checks is easy, but if you are residing abroad, it may prove difficult in some cases. As this … Previously, I covered personal finance at other national web publications including Bankrate and The Penny Hoarder. That’s a point the House Ways and Means Committee noted in its rundown Monday on … Chances are, you won't be alerted ahead of time that your payment is coming in the form of a prepaid card: The decision to mail them out wasn't widely known before the first batch was sent in May. Walmart, for example, will cash a government check of up to $5,000. For the $1,200 stimulus check associated with the CARES Act, the IRS set a deadline of May 13th if you wanted to enter your direct deposit information. The prepaid debit cards will be issued by MetaBank and can be used anywhere Visa is accepted. If you’re still awaiting your economic impact payment, you could potentially receive one of these cards in the mail. Use this stimulus check calculator to figure out exactly how much money you should be receiving from the government and make sure it aligns with your balance. Day 15 Of Tax Filing Season: 28 Million Tax Refunds, $3,021 On Average. "Prepaid debit cards are secure, easy to use and allow us to deliver Americans their money quickly," Treasury Secretary Steve Mnuchin said in a statement last month. Cash a check with Ingo Money and, if your check is approved, get your money in minutes in your bank, prepaid card or PayPal account, buy an Amazon.com Gift Card, pay credit card bills or pick up cash at a MoneyGram agent location. You can also use your card to pay rent or make a mortgage payment if your landlord or mortgage company accepts Visa debit card payments. Cash App. As posted online by the United States Government in documentation on its way to a final vote, this is the third such check since the start of the COVID-19 global pandemic. Follow me on Twitter at @keywordkelly. Sending the EIP card instead of physical checks will help deliver money quickly and safely, and the funds will be available for use immediately after activating the card, according to the Treasury. More than 30,000 banks use their credit cards. Around 4 million Americans will be sent their stimulus payments via prepaid debit card. You’ll need your 16- or 19-digit card number, its expiration date and other identifying information. Cashing Fee: Varies. Finally, you can transfer funds from your card to an existing bank account online at eipcard.com or using the Money Network Mobile App. In March of 2021, a bill in the Senate contained an order for a third economic stimulus check for citizens of the United States. To determine the amount you will receive, the government will look at your 2019 tax returns if you already filed and 2018 information if you didn't yet file. Welfare recipients who are on the controversial cashless debit card will have their $750 stimulus payment quarantined, as the government bucks … Recover it here. A welcome packet accompanying the card offers more information to help you verify the card is real. You may opt-out by. Connecticut Spares 110,000 Covid-19 Telecommuters From Double Taxation For 2020, But What About 2021? But there are certain fees associated with the cards that consumers need to be aware of. Recently, as part of an emergency coronavirus relief package, the U.S. Federal Government began delivering Economic Impact Payments, also referred to as “stimulus checks” to eligible Americans. This not only makes it easier for cardholders to access their account information, but it can help cut back on the fees associated with checking account balances at ATMs. EIP Cards are different than Direct Express cards. If you’re still waiting for your economic impact payment, that doesn’t necessarily mean you will get an EIP Card. Consumers should be aware that these cards come with some fees to withdraw money, have easy online access, aren’t the same thing as Direct Express cards and will come directly from “Money Network Cardholder Services.”. It depends on how much you earn. You can find one close to you by using this ATM locator from eipcard.com. If you don't have enough money on your card, your payment may be declined. You can use your card at an ATM, though there's a $1,000 ATM withdrawal limit. The IRS previously distributed economic impact payments based on information provided on the most recent tax return on file (either from 2018 or 2019 for individuals who haven’t yet filed for 2020). And if you earn $99,000 or more as an individual or $198,000 as a couple, you aren't eligible to receive a stimulus payment. Just a day after Treasury Secretary Steven Mnuchin and the IRS said that the second round of stimulus checks was starting to go out, people … If you receive a debit card claiming to be your economic impact payment, make sure to verify the plain envelope it comes in is from “Money Network Cardholder Services.” The front of the card will have the Visa name on it, and the back of the card will have the issuing bank, MetaBank, listed. "Recipients can immediately activate and use the cards safely.". Sign up now. I'm a Personal Finance Reporter for Forbes Advisor. The debit cards loaded with stimulus payments will be delivered in ... You can also withdraw cash from the debit card for free at an in-network … ©2021 Global Cash Card, Inc. 3972 Barranca Pkwy, Ste. J610, Irvine, CA 92606 Phone: 866-395-9200 Outside the U.S. 949-751-0360 Outside the U.S. 949-751-0360 Expect to pay a fee, though. The cards, issued through Treasury's U.S. Debit Card program, were mailed out starting in mid-May. From there, you can check your account balance and transaction history for free. Expect the transfer to show up in your bank account after one to two business days. You can get cash using an out-of-network ATM, but it will incur a fee. Economic Impact (Stimulus) Payments Important Information about Coronavirus (COVID-19) On December 27, 2020, President Trump signed into law a supplemental appropriations bill that provides over $900 billion in additional COVID-19 relief including direct stimulus payments (direct deposit, check or debit card) to eligible U.S. residents. While we are not a financial institution, we have compiled a list of helpful tips to help ensure you can utilize the funds sent to you from the IRS. You'll be asked to enter your card number, last six digits of your Social Security number and the three-digit security code on the back of your card. If you're waiting on your stimulus payment, you cannot request to receive a debit card instead of a check. Look out for a plain envelope from "Money Network," a division of Fiserv, which is a global provider of financial services technology. If you don’t use PayPal, Cash App is a popular alternative. CHECK OUT: If you invested $500 in 2010 according to Warren Buffett's advice, here's how much you'd have now via Grow with Acorns+CNBC. Finance, CBS News Radio and more. If you mistake your card for junk mail and toss it, or if it's lost or stolen at any time, you can get a replacement by calling customer service at 1-(800)-240-8100. CVS, Walmart And Home Depot Join Fight Against Rampant Social Security Scams, House Tax Committee Chides IRS About Slow Start To Tax Season, Urges Tax-Day Deadline Delay, IRS Delivers Covid-19 Surprise To Workers:  A Chance To Redo Their 2021 Health Plan And FSA Choices, Dollar Cost Averaging Vs. The prepaid debit cards, issued by MetaBank and on the Visa network, are called Economic Impact Payment (EIP) Cards. To create an online account, head to the EIP Card homepage to activate your card and register yourself as a new user. Approximately four million Americans will receive their coronavirus stimulus check in the form of a prepaid debit card. You can use it to make purchases anywhere Visa debit cards are accepted, and you can pay in-store, online or over the phone. The cards can be used to make purchases, get cash … The IRS has sent out more than 140 million economic impact payments guaranteed by the CARES Act. There’s also an app for both iOS and Android devices associated with the EIP Card called the Money Network Mobile App. AD. Both Venmo and Cash … To date, the federal government has issued payments via direct deposit, Direct Express card (used for paying federal benefits like Social Security) or physical check. Important: If you have an EIP Card (“stimulus card”), please call the Customer Service number on the back of your Card, visit EIPcard.com. If you earn more than $75,000 as an individual or $150,000 as a couple, the total amount you're eligible to receive starts to decrease. May 13 was the last day that Americans could submit direct-deposit information to receive stimulus checks, which means payments will arrive as either checks or debit cards moving forward. This week, the Treasury and the IRS began sending out nearly 4 million payments using a new method: A new prepaid debit card. Get Make It newsletters delivered to your inbox, Learn more about the world of CNBC Make It, © 2021 CNBC LLC. All Rights Reserved. You can check your card balance online (you have to register as a new user on eipcard.com, which provides information on how to use the cards) or by calling customer service at 1-(800)-240-8100. Look for the names "MetaBank," the retail banking arm of the Treasury Department, and "Money Network" in the letter to ensure it's a legit card. © 2021 Forbes Media LLC. The COVID-19 pandemic puts millions of people into vulnerable, emotional … What if you are already feeling pretty financially stable, even in the midst of … You'll need the routing and account number associated with your bank account. This week, the IRS began sending nearly 4 million individuals an EIP Card with their stimulus funds loaded onto it. If you're eligible for an Economic Impact Payment and didn't receive it via direct deposit or paper check, you could be among the approximately four million Americans getting a card. If you have sufficient funds remaining on your card, you can use it to make recurring bill payments. Invest for the Future. Money 101 is an 8-week learning course to financial freedom, delivered weekly to your inbox. Chief among those questions is: “When will I … But keep in mind that if you usually get your benefits on a Direct Express card, but updated your information using the Non-Filers tool, you won’t receive your stimulus payment and dependent money on your Direct Express account. Call MetaBank at 866-550-6382. Previously, I covered personal finance at other national web publications including Bankrate and The Penny Hoarder. But not everyone who qualifies has received money. If your income is above those amounts, the stimulus payment is reduced by 5 percent of the amount that your AGI exceeds the three thresholds. I'm a Personal Finance Reporter for Forbes Advisor. There are 3.4 billion Visa cards alone in circulation! If you invested $500 in 2010 according to Warren Buffett's advice, here's how much you'd have now. If you receive federal benefits (such as Social Security or Veterans Affairs benefits) on a Direct Express card, don’t let this other prepaid debit card confuse you. When I'm not digging up the best ways to manage your money, I'm out traveling the world. Lump Sum Investing—How To Decide, IRS Warns Of Delays And Challenging 2021 Tax Season: 10 Tax Tips For Filing Your 2020 Tax Return, Investment Fees Can Invalidate The 4% Rule. Additionally, as reported by Forbes, other stores might charge a check cashing fee as high as $6, while others may only cash checks less than $500. Cash a check on your mobile device. Here are five things you need to know. If you want a replacement card quickly, Priority Mail will cost you $17. The stimulus check you receive will not factor into your income-tax liability. Your first reissued card will be free — after that, a $7.50 fee will be applied for each additional reissued card. Here's what you need to know about them. The Treasury has delivered more than 140 million stimulus payments so far, and more are on their way. The second round of prepaid economic impact payment cards started going out to recipients in January. The Economic Impact Payments are worth up to $1,200 for individuals and $2,400 for couples, plus $500 for eligible dependents. You can also cash check balances up to $5,000 at the aforementioned stores, just be sure you are calling ahead if your stimulus check is larger than this amount. Some people, expecting their economic impact payment in the form of a check or direct deposit, are mistaking the mail as junk or the cards as a fraud.

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