May 28, 2020

Public Service Announcement: There are many Americans who don’t have direct deposit bank accounts and still haven’t received their stimulus payments to cope with the pandemic. Those are being mailed out in the form of pre-loaded debit cards. At the link is some information on what to look for in the mail and how to use them.

First and most important point: when you see a plain envelope that appears to contain a plastic debit card, DO NOT throw it away thinking it’s a come-on to get you to sign up for a credit card. It might be, but it might also be your $1200-a-person stimulus payment.

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Comments 1-3 of 3

  • Ida B Manning-Netherland

    05/28/2020 07:42 PM

    Will I am set up on direct deposit and have always been . Been still haven't received anything. And what I've read says I'm not required to fill any forms out. So how many other seniors have still not received one?

  • Susan Meyer

    05/28/2020 03:46 PM

    My stimulus payment came as a pre-loaded debit card, and I would have thrown it away if a person walking out of the post office with me hadn't commented about stimulus payments were coming this way. After contacting 2 different banks and asking them if this was a real deal, I was able to use the debit card to pay for some home repairs. I did have a bank employee tell me that while you could transfer the money to your bank account, the credit card company partnered with this was charging fees for that transaction. If you use it like a debit card, you receive the full amount and have no fees.

  • Renee Kendrick

    05/28/2020 12:56 PM

    Since I refuse to freely give the IRS my bank information, I received one of the debit cards at the end of last week. It came in a double window envelope with an Omaha, NE, return address. I would have rather received a paper check in the mail!!! The debit card was such a hassle. I had to call and activate the card, set up a pin, then register online at the designated website. After the card was setup online, I had an option to transfer funds to a bank account. It took more time than taking the check from the mailbox, endorsing it, and depositing at my bank's ATM. The debit card company made no money in fees off of me! There are a lot of fees involved if you want to withdraw cash. You are allowed $1,000 per transaction per day at an out-of-network atm for free. Any subsequent withdrawals cost you! No-fee in-network atms are located at convenience stores...places I enter only on road trips. Only buy gasoline at local stores. I am not going to go into a convenience store and withdraw a large amount of cash and increase my chances of being robbed. Don't know who came up with the crazy idea of a debit card for the stimulus payment. (The only debit card I want to handle is the one tied to my bank account.) The debit card also has to be kept for at least the remainder of 2020. Guess the reason is in case more stimulus payments are provided by the government. (Let's hope not.) Don't throw the card away after it is zeroed out...the fee to replace a lost or stolen card is $7.50. So my suggestion for anyone who receives such a card, go online and transfer the $$ to your bank account then put the card in a safe place. The less fees the company makes on the debit card, the less likely they will want to provide the payment method again.