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06/03/2020

People are mistaking stimulus payments for junk mail or a scam

The Washington Post

The IRS has to explain, yet again, a glitch in issuing stimulus payments.

To help speed the delivery of up to $1,200 in economic impact payments to individuals made available under the $2 trillion Coronavirus Aid, Relief, and Economic Security (Cares) Act, the Treasury Department last week began mailing prepaid debit cards to 4 million Americans.

The prepaid debit cards allow recipients to make purchases online and at any retail location where Visa is accepted. Recipients can also receive cash from in-network ATMs and transfer funds to their personal bank accounts without a fee. (Fees may apply if an out-of-network ATM is used.)

The cards, issued by Treasury’s financial agent, MetaBank, were intended to speed the process of getting out the payments. Tens of millions of others have received their money by direct deposit, check or the Direct Express prepaid debit cards used to deliver Social Security payments and other federal benefits.

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