07/10/2020
A quick update on Economic Stimulus Payments:
The United States Bureau of Financial Services is issuing approximately 800,000 letters to taxpayers who have not activated their Economic Impact Payment (EIP) pre-paid debit cards. While the letter provides Meta Bank's toll-free number, this letter could result in an increase of EIP pre-paid debit card inquiries from your clients. Remember, the debit cards did were not labeled as coming from the IRS or the U.S. Treasury so many people thought they were junk mail and threw them out.
What do you do if your stimulus prepaid debit card is lost or destroyed?
Individuals who have lost or destroyed their EIP Card may request a free replacement through MetaBank® Customer Service. The standard fee of $7.50 will be waived for the first reissuance of any EIP Card. Any initial reissuance fee charged to a customer from an earlier date will be reversed. Individuals do not need to know their card number to request a replacement. Individuals may request a replacement by phone at 800-240-8100 (option 2 from main menu).
The Economic Impact Payment Card is sponsored by the Treasury Department’s Bureau of the Fiscal Service, managed by Money Network Financial, LLC and issued by Treasury’s financial agent, MetaBank®, N.A. If you receive an Economic Impact Payment Card, it will arrive in a plain envelope from “Money Network Cardholder Services.” The Visa name will appear on the front of the Card; the back of the Card has the name of the issuing bank, MetaBank®, N.A. Information included with the Card will explain that the card is your Economic Impact Payment Card. Please go to EIPcard.com for more information and additional FAQs.
