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Home / Tips and Tricks / EIP Card: What It Is and Why You May Get One If Another Stimulus Payment Is Authorized

EIP Card: What It Is and Why You May Get One If Another Stimulus Payment Is Authorized



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The IRS has three ways in which stimulus money can be distributed to you.

Angela Lang / CNET

If the CARES Act passed in March, around 4 million skilled Americans have her first stimulus test in the form of an EIP (Economic Impact Payment) card instead of a physical check or direct deposit. If a second stimulus check takes place, the IRS will likely make several million payments in the same way.

But how do you know if you are getting an EIP card and can you do anything to get yours? Coronavirus Aid payment different?

We cover what an EIP card is and how to find out if you can get one from the IRS this year. Take a look at how much money you could get our stimulus check calculator. Here is everything that’s going on negotiations For a invoice that could include second stimulus testwhat we know possible changes in qualifications and what for Payment priority could be for people who get EIP cards. We update this story often.

Read:: 9 million people did not receive their stimulus checks, but could still do so. Here is how

What exactly is an EIP card?

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Approximately 4 million people received their stimulus payment through a prepaid debit card called an EIP card, which looks like this.

Money network; Screenshot by Jessica Dolcourt / CNET

An EIP card is a prepaid debit card that the finance department used to distribute some stimulus payments under the EIP card CARES Actinstead of an electronic transfer or check. The cards were made available to a few eligible US citizens for whom the government did not have banking information.

These Visa debit cards allow you to make purchases, access cash from ATMs on the network, and transfer money to your personal bank account with no fee.

If you get one after the card arrives, visit the EIP card website to activate it and learn more about how to use it.


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Who has or will receive stimulus payments by EIP card?

Those who were eligible would receive the first stimulus payment by EIP card instead of check if they filed their taxes but the IRS did not have bank account details and if the tax return was processed by the IRS service centers in Andover. Massachusetts or Austin, Texas, according to a Treasury Department press release. It is not clear what the significance of these special service centers is, but we have asked the Treasury Department for more information.

If a second stimulus bill is approved, you can Receive your payment the same way You did it for the first time. So if you received an EIP card, you will likely get another one. You may receive your check in a different way if you need to provide new banking information.

How would an EIP card go down?

If you are eligible, your EIP card will reach the address given on your last tax return in an unmarked envelope from “Money Network Cardholder Services”. Because it wasn’t clearly marked, some people allegedly threw away the letter without opening it during the first round of stimulus payments.

Payment cards are often sent in plain envelopes to deter fraud and thieves. It’s unclear whether the IRS would also send a second payment in an unlabelled envelope.

If a second stimulus payment is approved, how soon could I get an EIP card?

If another coronavirus relief bill is handed over with a second stimulus payment, it can likely take longer to receive your EIP card than direct deposit. When the CARES law was passed in March, the first EIP cards did not run out until mid-May. However, it is possible that it will be faster this time because the infrastructure is already in place. We just don’t know yet.

Once a second stimulus payment has been approved, you can track your money (in whatever form) using the same IRS tool that you can work with Track the status of your stimulus payment. If you’re still waiting for the first check, go here how to report your missing payment to the IRS and find possible Reasons why your stimulus payment hasn’t arrived yet.

Can I avoid getting an EIP card if I want a direct deposit instead?

If you have a bank account, you can try signing in direct deposit with the IRS now through its Get My Payment portal. This way, the IRS will have your bank account information in place when another stimulus package is passed and another payment is issued. This makes it more likely that you will receive payment via direct deposit instead of an EIP card. Direct deposit may not be available to everyone, but the portal allowed me to enter my bank details and log in (I received my first check by email).

How much stimulus money will be put on the card?

Once an invoice has been submitted, the amount of money that you would receive if you made a second Stimulus payment (whether by direct deposit, check in the mail or EIP card). depends on your AGI or Adjusted Gross Income, from your tax returns, along with your registration status (single versus joint) and how many dependents you have. The maximum amount a single taxpayer can receive is $ 1,200.

Find out How do you calculate how much you can get with a second stimulus payment?. You can find out too Who counts as dependent on your taxes and What does this mean for a stimulus payment?, and How old does an addict have to be to receive their own stimulus check?.

Receiving your payment through an EIP card doesn’t change this calculation or the amount you might receive – just the format of the payment.

Will the IRS tell me if I should get an EIP card?

For the first stimulus payments, the IRS would send a letter about your money to your last known address within 15 days of receiving your payment. The letter provided information about how you received the money (check or direct deposit or EIP card) and how to report it if you haven’t received the payment. But watch out: there were many Stimulus check fraud Walk around. Before giving your information to anyone, visit IRS.gov to make sure your letter is legitimate.

What can I do if my EIP card is lost or destroyed?

Do not worry. If you’ve lost or destroyed your EIP card, you can request a free replacement through MetaBank Customer Service. The replacement fee does not apply the first time.

You don’t need to know your card number to request a replacement. Just call 800-240-8100 and select the second option from the main menu as per the IRS website.

Find out if it’s you qualified for a second stimulus test and when you can expect a second stimulus payment.


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