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Home / Tips and Tricks / What is an EIP card and why can you get one instead of a stimulus check?

What is an EIP card and why can you get one instead of a stimulus check?



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

Angela Lang / CNET

What is an EIP card and what does it have to do with yours? second stimulus test? How do you know if you are getting one and is there any way I can get it? Your next stimulus payment another way, provided A new law to relieve coronavirus is passed?

These are all good questions we’ll be answering here, and more. An Economic Impact Payment card was sent as an incentive payment to about 4 million Americans rather than a physical control or direct deposit. When a The second round is approved by CongressIt is likely that the IRS will make millions in payments eligible Americans with the same method.

Estimate how much money you could get, look at that our stimulus check calculatorand here is What to do if you miss your first stimulus check-up?. This story is updated often.

What is an EIP card anyway?

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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, get cash from ATMs on the network, and transfer money to your personal bank account for free.

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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Why did some people get stimulus money on an EIP card?

Those eligible received the first stimulus payment by EIP card instead of check if they filed their taxes but did not have bank account details available to the IRS 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 differently if you need to provide new banking information.

How much stimulus money would be put on the card?

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

once The final invoice is handed over, the amount of money you would receive if you made a second stimulus payment (whether in the form of direct deposit, Check or EIP card by post) 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?. Here is How old does an addict have to be to receive their own stimulus check? and the stimulus test situation for older adultsPeople in the SSDI program, U.S. Citizens Abroad and people live in US territories.

How soon could I get an EIP card if a second stimulus test is approved?

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 could 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 review, go here how to report your missing payment to the IRS and find possible Reasons why your stimulus payment hasn’t arrived yet.

How would the EIP card be received?

If you are eligible, your EIP card will reach the address given on your last tax return in an unlabeled 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.

What if I prefer a direct deposit instead of an EIP card?

If you have a bank account, you can try to sign 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 through the portal I was able to enter my bank details and log in (I received my first check by email).

Will the IRS notify me if I receive an EIP card?

For the first stimulus payments, the IRS would send a letter of your money to your last known address within 15 days of receiving the 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 should I do if I lose my EIP card or if it is 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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