Stimulus Check Versus Debit Card

What is the stimulus check debit card.

Stimulus check versus debit card. Difference between payment in debit check and direct deposit the treasury said they would be sending out pre paid stimulus debit cards opposed to stimulus checks and says they will. To speed delivery of the payments to reach as many people as soon as possible the treasury s bureau of fiscal service is sending payments out by prepaid debit card. The new debit card will contain stimulus funds allocated to those qualifying americans which will have to be activated once received as opposed to the direct deposits that automatically showed.

On may 18 the treasury department announced that nearly four million economic impact payments a k a. Millions of americans have received economic impact payments or stimulus checks via direct deposit in their bank accounts. Now nearly 4 million americans are being sent stimulus checks by.

People who received the first stimulus payment as part of the cares act in the form of a check may not get their second payment in the same form and vice versa the irs said. Formally called eip economic impact payment cards the debit cards are an alternative to receiving a paper check. An economic impact payment card is a prepaid debit card that the us treasury used to distribute some stimulus payments under the march cares act instead of direct deposit or a paper check.

About 4 million americans received debit. Still haven t received your stimulus check it could be coming in the mail in the form of a prepaid debit card.