There are a couple of reasons why the IRS sent out EIP cards: They needed to get a payment to those who didn't have their banking information on file and they wanted to speed up payment delivery. Angela Lang/CNET. Hensley said that at first glance the envelope he received looked like … Though we can't review every available financial company or offer, we strive to make comprehensive, rigorous comparisons in order to highlight the best of them. For the second round of payments that started going out in late December, the IRS said it sent either a paper check or a debit card in the mail if it didn't have banking information on hand. About 8 million people will get their stimulus payment on a prepaid debit card called an EIP card, which looks like this. Since the first stimulus checks were sent, there has been greater effort to help people who don't have bank accounts get one for this purpose. What the EIP cards look like. EIPcard.com Replacing the lost cards required calling MetaBank Customer Service, the bank mailing the cards and paying a fee to get a new card shipped. EIP cards are debit cards that you can spend like cash or transfer to your bank. © 2021 CNET, A RED VENTURES COMPANY. Now use Eipcard and check Eip Card Scam or not. How soon could a third stimulus check arrive? Just call 800-240-8100, and choose the second option from the main menu, according to the IRS website. Money Network/Screenshot by Jessica Dolcourt/CNET, how to claim your missing stimulus money on your 2020 taxes, how your taxes could complicate a third stimulus payment. You can reach out to us by phone or mail with any customer service questions or concerns regarding your Economic Impact Payments (EIP) Card. But look at the top right corner. If you can’t make your mortgage payments because of the coronavirus, start by understanding your options and reaching out for help. Please note that the Economic Impact Payment Cards are being issued by MetaBank, N.A., and look like this: For more information on EIP Cards, including how to activate your card, visit the Economic Impact Payment Card web site. Possibly. The amount of money you'd be allotted in a potential third stimulus check would likely depend on your AGI, or adjusted gross income, from your tax filings, along with your filing status (single versus joint) and how many dependents you have. However, the final amount you're eligible for could be determined by the outcome of an effort to make the third check more "targeted," which could bring far more money to your family -- or far less. or placed by MetaBank, N.A. The IRS has 3 ways to distribute stimulus cash to you. If you've lost or destroyed your EIP card, you can request a free replacement through MetaBank Customer Service. or placed by MetaBank, N.A. 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 2. In some cases -- like if you received a confirmation letter from the IRS that it sent your money, but your EIP card never arrived -- you may have to report the missing funds or any errors to the IRS. Because the envelope containing the first EIP card wasn't clearly marked, some people reportedly threw the letter away without opening it during the first round of stimulus payments (if you think this happened to you, we've got tips on how to get your payment below). You don't need to know your card number to request a replacement. Around 4 million people received these cards starting in May. EIP […] Now use Eipcard and check Eip Card Scam or not. We won't know anything definite until Congress passes a final stimulus bill and President Biden signs it into law. If you do not agree to your funds being held at MetaBank, N.A. Americans are plastic addicts. A third stimulus check could go out at the end of this month, but your money might not arrive by direct deposit or paper check. The IRS will likely do the same for the third round of payments. One new wrinkle this time around: If Congress follows the timeline it has laid out to pass a new bill, the third round of checks could get sent out during tax season, which would come with its own set of rules and pitfalls. How will I receive my card, and what does it look like? The debit card is a VISA card issued by MetaBank, the Treasury’s financial agent, and will look like this: Still have questions? Get answers to common questions about the Economic Impact Payments. The replacement fee will be waived the first time. Question: What will my EIP Card look like? Related New Visa Card to Compare to EIP Prepaid Visa Debit Card (Works like the EIP Visa but has more benefits and features as it works more like a real checking account): Chime is a new Visa card that is amazingly free (unless you use the card outside of their large ATM network). Keep reading for more information about getting stimulus checks in the form of an EIP card and how to use it if one arrives in your mailbox. If your card doesn't look like this, or doesn't come in a plain envelope from “Money Network Cardholder Services,” it is a scam and NOT a real Economic Impact Payment. This week, the IRS started to send out the second round of stimulus payments, that are a part of a larger COVID-relief package that President Donald Trump signed into legislation. The card will also come with instructions on how to activate it and set your PIN number. It’s free to replace your card. If you qualify for an Economic Impact Payment, the government might mail you your money on a prepaid VISA debit card issued by Meta Bank. When the first round of stimulus checks began to roll out under the CARES Act in April, many people were surprised to learn that they would not be getting their money through direct deposit or a check in the mail, but through an Economic Impact Payment, or EIP, card. The debit card is … For the first two rounds of checks, the IRS said your EIP card would arrive at the address listed on your last tax return in a white envelope marked with the US Department of the Treasury seal. The cards require recipients to register the card online or via phone, and have some fees attached for use including $7 for a replacement card and $0.25 to view the balance on the card. inform the IRS and USPS of your new address, could bring far more money to your family, dependent has to be to get a separate stimulus payment, report the missing funds or any errors to the IRS. If you are expecting an EIP debit card, look out for a plain letter from “Money Network Cardholder Services.” When you open it, the card will be issued by MetaBank and look like this: The EIP Card is a Treasury-sponsored, VISA-branded, prepaid debit card that provides a safe, convenient and secure way for EIP recipients to access their Economic Impact Payments without having to go to a bank or credit union to cash a check. It’s important to note that the cards will come from MetaBank, not the IRS. Some people have confused the debit cards with scams and actually cut them up. What Does the EIP Card Look Like? -> In this post, you will find out everything about the Stimulus Check and the EIP Card.. Did you receive an EIP Card in your mailbox? Some literature will identify the card as the economic impact payment. An economic impact payment card is a prepaid debit card that the US Treasury used to distribute some stimulus payments under the March CARES Act and the December stimulus bill, as an alternative to distributing the money by direct deposit or a paper check. Rene Hensley of Lindenhurst was among the recipients of the card known as the Economic Impact Payment (EIP) Card. Learn how to manage and protect your credit, Information about COVID-19 from the White House Coronavirus Task Force in conjunction with CDC, HHS, and other agency stakeholders.Visit coronavirus.gov, The latest public health and safety information for United States consumers and the medical and health provider community on COVID-19.Visit the CDC COVID-19 page, Information on what the U.S. Government is doing in response to COVID-19.Visit usa.gov (English) Visit usa.gov (Spanish), An official website of the United States government, Explore guides to help you plan for big financial goals, Taskforce on Federal Consumer Financial Law, Guide to COVID-19 economic stimulus relief.