June 2 2020

Know What Economic Impact Payment Cards Look Like

By: Tad Stephanak


Take a close look at your mail and do not accidentally throw away federal assistance funds by thinking they are an advertisement. 


Those qualifying for a COVID Economic Impact Payment (EIP) might receive their money in the mail on a prepaid VISA debit card issued by Meta Bank. EIP Cards are a Treasury-sponsored, VISA-branded, prepaid debit card that provides a safe, convenient and secure way for EIP recipients to access their Economic Impact Payments without having to go to a bank or credit union to cash a check. The funds of an EIP Card can be applied in a number ways, from in-store debt transactions to mortgage relief. 


Below are links to commonly asked questions and guides to Economic Impact Payments and ways to use your COVID-19 economic stimulus relief funds. 


- There are ways to manage and protect your finances and avoid possible scams.


- Learn about your federally-held student loan postponement and waived interest.


- Homeowners can examine mortgage relief options and get help assessing their situation. 


- Understand how the COVID crisis can affect credit reports, scores and how to protect your credit and future financial opportunities.


For more information and resources on your EIP Card and stimulus money contact the Consumer Financial Protection Bureau.


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