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Where’s My Second Stimulus Check?

Where’s My Second Stimulus Check?

According to the Treasury Department and the IRS, millions of second Economic Impact Payments (EIP) are being issued by prepaid debit cards to speed the delivery of payments to as many people as possible.

This following is to inform you about what to expect regarding your second stimulus payment and provide a brief explanation of how the debit cards work.

Will I Receive A Check Or Debit Card?

Some may remember the confusion of receiving a random debit card in the mail from the government and questioning their legitimacy due to the lack of communication from the issuing agencies.

The form of payment you receive for the second EIP may be different from the first EIP:

  • If you received a check last time you might receive a prepaid debit card this time.
  • If you received a prepaid debit card last time you might receive a paper check this time.
  • If you received a direct deposit you could receive either a paper check or a debit card.

The IRS does not determine who receives a card. This is determined by MetaBank®, N.A.

What Is The Economic Impact Payment (EIP) Debit Card?

The prepaid debit card, called the Economic Impact Payment card, is issued by Treasury’s financial agent, MetaBank®, N.A.

EIP Cards are being sent in an envelope with the U.S. Department of the Treasury seal. Each mailing will include instructions on how to securely activate and use the EIP Card.

These cards are reported to provide certain protections against fraud, loss, and other errors. They can be used to make purchases online or in stores anywhere Visa® Debit Cards are accepted.

Cardholders can also use the cards to do any of the following without paying a fee:

  • Transfer funds to a personal bank account
  • Make signature or PIN-debit purchases anywhere Visa and Debit are accepted
  • Get cash back with a PIN debit purchase where available.
  • Get cash from in-network ATMs.
  • Get a replacement EIP Card, if needed
  • Check their card balance online, through a mobile app or by phone.

In short, these debit cards work like a gift card, in that they have a limited amount of funds that cannot be replenished.

Professional Recommendation –

If you are like me, you probably have a dozen of these gift cards with very low balances sitting around the house or in your wallet, which is why I recommend you transfer the funds directly into your bank account immediately and eliminate the extra card as soon as possible.

If you still haven’t received your EIP, you can check it’s status on the IRS website using their Get My Payment tool.


What if I don’t get it?

While this is a possibility, never fear. The Economic Impact Payment is an advanced credit for which you can also claim on your 2020 Federal income tax return as Recovery Rebate Credit. This credit can only be claimed once, so if you already received it make sure to tell you tax preparer.