The IRS reported that roughly 4 million Americans would receive their stimulus payments as a debit card rather than a check or direct deposit. The CARES Act appropriated $2.2 trillion for Americans in order to bolster economic activity and provide stimulus to combat the effects of the pandemic.
So for those who have not received a stimulus check or direct deposit yet, a debit card may be on its way. The debit cards are being issued by MetaBank, which is the Treasury Department’s financial agent, and mailed in plain white envelopes from Money Network Cardholder Services. The card is known as an Economic Impact Payment Card (EIP). The problem is that the envelope and the card may appear illicit and fraudulent to recipients, who are already wary about what they receive in the mail. The IRS notes that if you’ve received a card and are still not certain if it is a legitimate EIP card, you can visit EIPcard.com.