Coronavirus and the Economic Impact Payment Card

[rtroxel]

I received in the mail today a pre-authorized debit card from a company named Money Network Cardholder Services. This is supposedly in place of the government check that people are supposed to be receiving from the Treasury Department.

The card is supposed to be activated by going to a site, EIPCard.com, so I went there, and predictably, they wanted all my information, etc..

This sounds scammy to me. Has anyone else here received this card?

Thanks,

Roy in New Mexico

 

[kimcdougc]

I have not heard of anyone receiving a card like that. You either get a paper check or an electronic payment into your bank account. I would call this a scam.

 

[gwraigty]

I have not heard of anyone receiving a card like that. You either get a paper check or an electronic payment into your bank account. I would call this a scam.

Or you could have seen post #731 in the Stimulus direct deposit, checks and EIP cards. to know that it's not a scam, as well as the many articles available via a Google search.

FAQs on Stimulus Payments by Prepaid Debit Card

 

[rtroxel]

According to the Kiplinger site, the card I received doesn't appear to be a scam. On the other hand, scammers have been known to duplicate, pixel by pixel, credit cards, bank statements, etc..

https://www.kiplinger.com/slideshow...eck-payments-by-prepaid-debit-card/index.html


Roy

 

[gwraigty]

I suppose a scammer could duplicate the card. The poster I referred to in the main thread also got the card. Sure, I supposed it's possible you could both be targeted for the same scam at the same time. But you're among 4 million people getting these cards. Here is a Forbes article:

5 Things To Know About Stimulus Debit Cards

5. Watch Out for Scams
The COVID-19 pandemic puts millions of people into vulnerable, emotional positions—and scammers are bound to try and capitalize on it. The Federal Trade Commission (FTC) created a webpage to warn consumers about potential coronavirus-related scams and how they can protect themselves.

If you receive a debit card claiming to be your economic impact payment, make sure to verify the plain envelope it comes in is from “Money Network Cardholder Services.” The front of the card will have the Visa name on it, and the back of the card will have the issuing bank, MetaBank, listed. A welcome packet accompanying the card offers more information to help you verify the card is real. Anything that fails to provide this information very well could be a scam.

Bottom Line
The Treasury has delivered more than 140 million stimulus payments so far, and more are on their way. This week, the IRS began sending nearly 4 million individuals an EIP Card with their stimulus funds loaded onto it. Consumers should be aware that these cards come with some fees to withdraw money, have easy online access, aren’t the same thing as Direct Express cards and will come directly from “Money Network Cardholder Services.”

 

[brewer12345]

Ugh, what moron thought this was a good idea?

 

[brewer12345]

Just got mine in the mail. It appears that it is quite difficult to transfer money from it to my bank account.

 

[Sunset]

Ugh, what moron thought this was a good idea?

+1
What a dumb idea.

Seems to me a check or direct deposit is good enough.

I know in IL , Chase bank and others will not charge any fee to cash the check even if you don't have a bank account.

 

[cathy63]

Just got mine in the mail. It appears that it is quite difficult to transfer money from it to my bank account.

Supposedly you can transfer the funds to your bank account from the card website. Max transaction amount is $1000, so you might have to do it in multiple steps.

 

[Telly]

Just got mine in the mail. It appears that it is quite difficult to transfer money from it to my bank account.

brewer, any idea why you received a card, rather than EFT or a paper check?
If you have some special circumstances and mentioned it before, I probably missed it.

 

[brewer12345]

I have no idea why I got a debit card and if it was stated that there was a thousand dollar limit I missed it. I eventually figured out that I could transfer a thousand at a time and happily have sucked out every last dollar. What a pain.

 

[audreyh1]

Well that’s a relief!

I’m still scratching my head why you got a debit card!

 

[rtroxel]

OK, the problem is solved - in my case, anyway.

I went to my bank with the EIP card and they were able to deposit the full amount - not just $1000 - into our joint account. Got a receipt, and drove home.

My only question is: Should I now cut up the EIP card? I don't intend on using it again, at all.

Thanks for having a good discussion on this awkward subject,

Roy in New Mexico

 

[cathy63]

Well that’s a relief!

I’m still scratching my head why you got a debit card!

The IRS says "EIP Cards are being distributed to qualified individuals without bank information on file with the IRS, and whose tax return was processed by either the Andover or Austin IRS Service Center."

 

[cathy63]

OK, the problem is solved - in my case, anyway.

I went to my bank with the EIP card and they were able to deposit the full amount - not just $1000 - into our joint account. Got a receipt, and drove home.

My only question is: Should I now cut up the EIP card? I don't intend on using it again, at all.

Thanks for having a good discussion on this awkward subject,

Roy in New Mexico

Yes, you can cut up the card and get rid of it if the money is now safe in your bank account.

 

[spncity]

If it's voted to issue another stimulus payment will they issue it to the same card?

 

[SecondCor521]

If it's voted to issue another stimulus payment will they issue it to the same card?

I very much doubt it. Many people (including me if I had received one) would throw it away after using it up.

I also am not sure there will be a second stimulus round, but that's another topic altogether.

 

[Bongleur]

OK, the problem is solved - in my case, anyway.

I went to my bank with the EIP card and they were able to deposit the full amount - not just $1000 - into our joint account. Got a receipt, and drove home.

Did you have to "activate" it first? No way I'm creating another account on some bank I've never heard of. And fees.