Watch Out for Your Economic Impact Payment -- It May be on Plastic

Posted on 06/02/20

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If you didn't get a paper check, you may get plastic from the Internal Revenue Service (IRS) as it continues to dole out stimulus payments.

The IRS has sent 4 million payments by prepaid debit cards, or Economic Impact Payment (EIP) cards, as the Treasury Department has dubbed them. The cards are going out to certain eligible taxpayers who filed tax returns, but for whom the IRS doesn't have bank account information. The stimulus payment is loaded on the debit card.

Your EIP card will arrive in a plain envelope from “Money Network Cardholder Services.” Don’t throw it away thinking it’s junk mail or a scam. 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. Note that you can’t request you receive your stimulus payment by debit card — it either arrives that way or it doesn’t.

Scammers are targeting your cards and check too!
Read all about it here:

https://www.aarp.org/money/taxes/info-2020/stimulus-payment-debit-cards.html

This story is provided by AARP Vermont. Visit the AARP Vermont page for more news, events, and programs affecting retirement, health care, and more.

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