Don’t Toss that Junk-Mail – It might be your stimulus payment.
Four million Americans are receiving their Economic Impact Payment in the form of a prepaid debit card — and many are mistaking it for junk-mail. Make sure you don’t toss that junk-mail, which includes your long-awaited stimulus check.
The U.S. Treasury Department and the Internal Revenue Service (IRS) began sending out Economic Impact Payments (EIP) as prepaid debit cards. The cards arrive in plain white envelopes that are strikingly similar to junk mail from credit card companies and scam mail. There’s no way to know that the card is from the federal government unless the recipient knows to expect it.
Reports are already pouring in from all over the country of people mistakenly tossing their EIP cards along with their junk mail. By the time they realize they’ve thrown out their long-awaited stimulus payment, it’s too late.
Here’s how to spot your EIP card, activate it and use it, in three easy steps:
Step 1: Spot your card in the mail.
If you’re eligible for a stimulus payment and you haven’t yet received it via direct deposit or paper check, be on the lookout for your EIP card in the mail. The prepaid debit card will arrive in a white envelope with a return address from “Money Network Cardholder Services” of MetaBank in Omaha, Nebraska. There is no other marking on the envelope to indicate it is from the federal government.
If you think you may have mistakenly tossed your EIP card, don’t panic. You can still receive your payment by calling the toll-free customer service line at 800-240-8100 (TTY: 800-241-9100) to ask for a replacement. You can also check out the EIP website for additional information and assistance.
Step 2: Activate your card.
Your EIP card includes a letter with instructions for activating it. If the card has more than one name on it, only the primary cardholder may activate it. You will know the primary because it is the one listed first on the card — may activate it.
Dial 800-240-8100 (TTY: 800-241-9100) and be prepared to share your name, address, and Social Security number. You’ll also need to create a four-digit PIN, which you’ll use for all ATM transactions, automated assistance, and to hear your balance. For security purposes, it’s best not to use personal information, such as your birth year or home address, as your PIN.
Watch out for scammers! Pay close attention when dialing the number to activate your card. Scammers have set up bogus EIP card call centers and are using numbers that are similar to the official ones shared by the IRS.
Once your card is activated, you can create a username and password to use your card online at the Money Network site. You can also check out your balance information and transaction history at EIP Card.com or by calling the toll-free number listed above.
Step 3: Use your card
Use your EIP card to make purchases anywhere Visa debit cards are accepted. If you’d rather have your stimulus money in cash, you can get money back. Just use PIN debit purchases where available, or by withdrawing cash from an ATM that carries the Allpoint brand.
It won’t cost you money to use your card, except for a select few transactions. For example, if you make a balance inquiry at an ATM, you’ll need to pay $0.25. Also, you can make one free withdrawal from an out-of-network ATM, but a $2 fee comes with every withdrawal afterward. To find a surcharge-free ATM near you, check out EIP Card.com.
Keep your card safe; if you lose it, you’ll have to pay $7.50 to replace it. Keep track of your balance; it is easy to go through a large amount fast.
Make sure you don’t toss that junk-mail without checking to see if your long-awaited stimulus has arrived. With very few markings, it might just look like another piece of junk mail. Make sure you get your stimulus as fast as you can. Not sure what the best way to use your stimulus is? We can help we offer Free Budget Counseling.
