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The treasury department on monday announced plans to deliver prepaid visa debit cards formally called eip cards and issued by metabank to people who qualify for a stimulus check but didn t give.
Stimulus check on a prepaid card. However this is not the first time using prepaid debit cards for stimulus payments has been suggested. Prepaid debit cards come with fees and privacy strings attached. The card is called an economic impact payment or eip.
Because the irs doesn t have bank account information for all those who are eligible for payments it is also sending paper checks as well as prepaid debit cards to millions of households. The debit cards can be used to withdraw cash from an atm transfer funds to a. The agency started delivering the second round of stimulus checks into millions of bank accounts this week providing 600 for each eligible adult and child.
About 4 million americans can expect to receive their stimulus payments through a prepaid debit card in the coming weeks the irs has said.
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