Paper checks will be sent in a marked envelope from the U.S. Treasury. When you call 800-240-8100 and select 1 for English, you are asked to then select option 1 to activate your card or you can select option 2 to report a lost or stolen card. I loved it. In a desperate attempt to avoid anything. EIP stimulus debit cards were mailed out and looked like junk mail. Be sure to immediately report if your card is lost or stolen. “I was expecting a check, and this card just shows up,” said Gary … In a desperate attempt to avoid anything like that in the future, I enrolled in a tax course. The IRS is sending out four-million stimulus payments in the form of Visa prepaid debit cards. ... [+] Close up of the branding and marketing design of a financial company. Other payments by paper check or debit card are expected in coming weeks. The government sent out four million of them, representing about 2.5 percent of all stimulus payments. Years ago, I found myself sitting in law school in Moot Court wearing an oversized itchy blue suit. The government has loaded your Economic Impact Payment onto the card for you. May 13 was the last day that Americans could submit direct-deposit information to receive stimulus checks, which means payments will arrive as either checks or debit cards moving forward. The … coronavirus stimulus money) to Americans, most of them through direct deposits or paper checks. They cited an address and asked me if I knew of the address and, if so, where is it? Question: Do I have to activate my EIP Card? Our subscribers make the Reader's Watchdog possible.  name will appear on the front of the card; the back of the card has the name of the issuing bank, MetaBank®, N.A. If your Card is discarded or destroyed, it is important that you call Customer Service at 1.800.240.8100 (TTY: 1.800.241.9100) immediately and select the “Lost/Stolen” option. In the end, Schanke got to order his new card, which the operator on the help line said should arrive in five to seven days. Our subscribers make the Reader's Watchdog possible. Question: Can I use my debit card for online purchases? The debit card will arrive in a plain envelope from “Money Network Cardholder Services.” The Visa Keep checking in for the latest. The prepaid debit card was one of the odder, more confusing twists of the rollout of stimulus money — or Economic Impact Payments — during the coronavirus relief effort. Stimulus Debit Cards Have Arrived. Cuban's idea of the "use it or lose it" debit card is similar to the federal Supplemental Nutrition Assistance Program (SNAP) program. As of May 29, 2020, the website states that the fee is “$0.00 for first reissued Card.” According to the new information: If your Card is discarded or destroyed, it is important that you call Customer Service at 1.800.240.8100 (TTY: 1.800.241.9100) immediately and select the “Lost/Stolen” option. announced that the Treasury had agreed to a request, Your California Privacy Rights/Privacy Policy. Nearly 4 million people are being sent their Economic Impact Payment by prepaid debit card, instead of a paper check. Neither MetaBank nor Treasury made much ado of the change. Depending on the store, you can either sign for the transaction or enter your 4-digit PIN. You will then be asked to enter the last 6 digits of your Social Security number for verification. The EIP Card is sponsored by the U.S. Department of the Treasury’s Bureau of the Fiscal Service as part of the US Debit Card Program. Follow her on Twitter at @leerood and on Facebook at Facebook.com/readerswatchdog. You are then given two more options. While at law school, I interned at the estates attorney division of the IRS. The problem is many taxpayers are expecting a paper check to show up in their mailbox, not a debit card. Close up of the branding and marketing design of a financial company. "They asked me the color of my car. It’s a good reminder that things are changing at the speed of light these days. Your Economic Impact Payment Card (EIP Card) contains the money you are receiving under the American Rescue Plan Act of 2021, COVID-related Tax Relief Act of 2020 or the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). complained to Watchdog that the phone number the U.S. Treasury directed recipients to call to replace the cards didn't work. Opinions expressed by Forbes Contributors are their own. Last week, the Internal Revenue Service (IRS) issued a reminder to taxpayers that some Economic Impact Payments, sometimes called stimulus checks, were being sent by prepaid debit card. Ask Larry: Will My Social Security Benefit Still Increase If I Stop Working At 62. The address was where (husband) Jack and I lived 30 years ago. You do not need to know your card number to request a replacement but will be required to provide your Social Security number. (Photo Illustration by Roberto Machado Noa/LightRocket via Getty Images). Those $1,400 stimulus checks are starting to arrive by direct deposit. V In an email to tax professionals Monday, the Internal Revenue Service said people who have lost or destroyed their Visa prepaid debit cards now can request a … Answer: Yes, you will have to activate your debit card by calling the toll-free activation line at 800-240-8100 (TTY: 800-241-9100). But Schanke, of Pleasant Hill, says it's a matter of knowing how to navigate the system. You do not need to pay this money back and you will not be taxed on this money. Watchdog reader Robert Schanke managed to do this week what many in government couldn't: Provide clear instructions for those who accidentally threw out federal stimulus payments mailed in the form of prepaid debit cards. VISA debit cards are to be taken seriously. Author: Bary Roy, Cole Johnson It might have gone unnoticed on my end, too, if Phyllis Jo Kubey, EA, had not pointed out the zero-fee. Once activated, your money is safe on this card and is eligible for FDIC insurance. Answer: Yes, you can use your stimulus check debit card to make purchases at stores that accept Visa(R) debit cards. If you have lost or thrown out the stimulus debit card, you’ll have to call (800) 240-8100 for a free replacement. Here's what he said people need to do: At that point, Schanke says, the caller will get to speak to a person who will ask several questions to verify identity. The government has sent out nearly 150 million Economic Impact Payments (a.k.a. Online Purchases . At one such audit, opposing counsel read my report, looked at his file and said, "Gentlemen, she’s exactly right." Stimulus debit cards causing headaches A list of all the fees you could have to pay if you got your stimulus money on a debit card. Turbo Card and Stimulus Deposits - What you need to know . Select option 1 when you are asked if you have received a card. Stimulus payments continue to hit consumer's mailboxes, and if you got your payment on a prepaid debit card, you can get that money transferred to your bank account or turned into cash. The information included in the envelope will explain that the card is your Economic Impact Payment Card. If your card is lost or destroyed, you can call customer service at (800) 240- 8100 and select the “Lost/Stolen” option. It was a horrible experience. Lee Rood's Reader's Watchdog column helps Iowans get answers and accountability from public officials, the justice system, businesses and nonprofits. Still haven't received your $600 stimulus payment? The Consumer Financial Protection Bureau says people who lost their card or believe it was stolen should call Money Network/MetaBank at 800-240-8100 (TTY: 800-241-9100). Readers complained to Watchdog that the phone number the U.S. Treasury directed recipients to call to replace the cards didn't work. You should be … All Rights Reserved, This is a BETA experience. Before I knew it, in addition to my JD, I earned an LL.M Taxation. Years ago, I found myself sitting in law school in Moot Court wearing an oversized itchy blue suit. Can New York Or Other Cities Fight Structural Racism On Their Own? They asked me the age of my daughter. You may opt-out by. Business related conceptual image. If you forgot the debit card PIN, you may be able to find it on a letter that your bank sent around the time you got the card. If you do not have your card because you accidentally discarded it, you should select option 2. © 2021 Forbes Media LLC. Reach her at lrood@dmreg.com or 515-284-8549. Start using your EIP Card. Watch: Gov. Please refer to the material in your Welcome Packet or see your Cardholder Agreement online at EIPCard.com for more information. It was a short jump from there to practicing, teaching, writing and breathing tax. "In some ways, it was a bit spooky," he said. Here's What to Know About the Fees: Blog. I signed up for another. Check the mail for a debit card. Anyone who destroyed or discarded their card should call Money Network Cardholder Services' customer service line and select the "Lost/Stolen" option. A stimulus check is a non-taxable cash payment sent to qualifying Americans by direct deposit, check, or debit card. Subscribe today at DesMoinesRegister.com/Deal to support her work. The Economic Impact Payment Card is a VISA prepaid debit card. In order to deliver money as quickly as possible to those who need it, the IRS is sending stimulus payments to eligible taxpayers who filed a tax return in either 2019 or 2018 and chose to receive their refund via direct deposit into their checking account. Also, the study notes that stimulus recipients would be less likely to spend the money on durable goods, such as cars, furniture or electronics. I nearly fainted. Ask Larry: How Will Taking Social Security Spousal Benefits At 62 Affect My Wife's Benefit Rate? When you call 800-240-8100 and select 1 for English, you are asked to then select option 1 to activate your card or you can select option 2 to report a lost or stolen card. Kim Reynolds announces transition back to capital press conferences. Your first reissued Card will be free1 and then a $7.50 fee will be applied for each additional reissued Card. As of the date of my first story (May 27, 2020), the cost for a replacement card was listed on the fee schedule as $7.50 ($17 additional charge for priority shipment). June 3, 2020. From there you’ll be able to call Metabank, the company that issued the card to report the card lost or destroyed and they’ll send you a new one. Activating the Card. Your debit card's PIN gives you the ability to conduct transactions through an ATM as well as get cashback when you use the card at stores. What should I do if the debit card is lost, stolen, or discarded by accident? Answer: Your stimulus payment debit card will come in a plain envelope from “Money Network Cardholder Services.” The card will say “Visa” on the front and “MetaBank” on the back. Lost your stimulus card? SUBSCRIBE | http://bit.ly/2Z6mT7N Follow 6 News https://www.instagram.com/kcennews/https://twitter.com/6NewsCTX … Business related conceptual image. (Photo Illustration by Roberto Machado Noa/LightRocket via Getty Images), Biden Infrastructure Plan Should Boost R&D. At IRS, I participated in the review and audit of federal estate tax returns. Senate Estate And Gift Tax Bill Will Reduce Exemption To $3,500,000 And Take Away Many Opportunities, Estimated Tax Payments - Don't Sweat The Small Stuff. By Angie Schrunk SNB Market President. Your Card will be deactivated to prevent anyone from using it and a new replacement Card will be ordered. Now that you’ve received your Card… Members will continue to meet virtually during the legislative session. TORONTO, ONTARIO, CANADA - 2019/06/22: In this photo illustration there are four Visa credit cards. Across Iowa and other states, people not expecting to receive Coronavirus Aid, Relief, and Economic Security Act assistance funds in that form assumed the cards were part of a promotion or scam and disposed of them. It was a horrible experience. Also Friday, Iowa U.S. Rep. Cindy Axne's office announced that the Treasury had agreed to a request by her and eight other members of and eight other members of the House Financial Services Committee to waive the $7.50 fee for replacement cards. I reported earlier that some taxpayers were mistaking their Economic Impact Payments, sometimes called stimulus checks, for trash - tossing cards and checks away. But what was spooky was that they knew the correct answers.". And requests for help from the Treasury led to dead ends. However, after the IRS announcement - and my story - the EIP prepaid debit website (eipcard.com) was quietly updated. A: The stimulus prepaid debit card came in a plain white envelope from Money Network Cardholder Services in Omaha. The IRS said that if you threw the debit card away or think it was lost or stolen, you can get a free replacement by calling 800-240-8100 (option 2 from main menu). Tossed it in the trash? I checked the website and saw that the FAQs had been updated at several places to reflect the same change. Luckily, I remembered. Otherwise, you'll need to contact your bank to find out which options they provide for recovering or changing the number. The IRS said that if you threw the debit card away or think it was lost or stolen, you can get a free replacement by calling 800-240-8100 (option 2 from main menu). Just like that, Taxgirl® was born. To order a new card, the website says to call the customer service number immediately (1-800-240-8100) and select the “lost/stolen” option.