IRS Mails Out 4 Million Stimulus Payments by Prepaid Debit Card

If you didn't get paper, you may get plastic from the Internal Revenue Service (IRS) as it continues to dole out stimulus payments.

The IRS has sent 4 million payments by prepaid debit cards, or Economic Impact Payment (EIP) cards, as the Treasury Department has dubbed them. The cards are going out to certain eligible taxpayers who filed tax returns but for whom the IRS doesn't have bank account information. The stimulus payment is loaded on the debit card.

Your EIP card will arrive in a plain envelope from “Money Network Cardholder Services.” The Visa name will appear on the front of the EIP card; the back of the card has the name of the issuing bank, MetaBank, N.A. Note that you can't request you receive your stimulus payment by debit card — it either arrives that way or it doesn't.

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John Waggoner