You may soon discover a debit card in your mailbox if you are one of the approximately 8 million Americans. Do not immediately assume it is a scam or trash letter if this is the case. Perhaps this is the second stimulus check payment you’ve been anticipating – albeit in the shape of a prepaid debit card.
The IRS will issue the cards, dubbed Economic Impact Payment Cards, or EIP Cards, to select individuals who do not have their bank information on file with the tax agency.
Rather than issuing a physical check (which takes longer to process), the cards will be mailed to those selected to receive them at the most recent postal address on file with the IRS.
EIP Cards are distributed to qualified beneficiaries in all 50 states and the District of Columbia; however, Americans in the west are typically more likely to receive one.
If you are issued an EIP Card, you are likely to have several questions regarding how it works. How am I to utilize it? Where can I put it to use?
Are there any other charges? Is it possible for the IRS to trace my purchases? The cards have several excellent properties, but their use is subject to certain unique regulations.
To help you get started quickly if an EIP Card arrives in your mailbox, some frequently asked questions concerning your second stimulus payment debit card. Additionally, ensure that the money is put to good use!