A PSA about Economic Impact Payment Card (aka "Stimulus Check")
Friday, May 29, 2020
For those of you who are still awaiting your stimulus check, please be advised that it will probably arrive in the form of a debit card. It will arrive in an unmarked white envelope with NOTHING on it to indicate that it is from the IRS, related to COVID-19, stimulus money, etc. I am sharing this with you so that you don’t mistake it for junk mail and throw it out!! (I very nearly did.)
The envelope is very plain, with no identifying information or logos on either the front or back. A return address for "Money Network Cardholder Services" shows in the window above your name and address.
In the upper right corner of the insert, there is a VERY faint seal from the Department of the Treasury, and also a smaller one in the lower left corner of the page. The page mostly contains a lot of jargon about terms and conditions, what you’re agreeing to, fees, etc. The bottom of the page does state that this is your Economic Impact Payment Card…
…but only if you actually REMOVE the card do you read that this is the money you’re getting for coronavirus relief.
The back page 4 lists the fees for various transactions; make sure you pay attention to those!
The best thing to do with this card is to activate it, register it online through their website, and then transfer that money electronically to your bank account. (This is very easy; just follow the steps after registering it online.) I realize that not everybody HAS a bank account, so if you do use it as a debit card, just watch those transaction fees or you'll have less money than you think.
PLEASE pass this on to anyone who might be likely to get one of these debit cards in the mail to prevent people from discarding theirs. I tried to post images of the envelope and contents so that you could see what it looks like but am unsure how to do that. If anyone wants to see it, just send me an email.