Senator Collins cautions Mainers not to mistake their Economic Impact Payment for junk mail
Washington, D.C.—U.S. Senator Susan Collins is reminding Mainers to be on the lookout for their stimulus payments in the form of prepaid debit cards in the mail if they have not already received these funds. The stimulus checks of up to $1,200 per individual were authorized by the CARES Act, which Senator Collins voted for.
“According to the IRS, more than 700,000 Mainers have already received their stimulus payments. For some of those who have not yet received these funds, the IRS has begun mailing prepaid debit cards,” said Senator Collins. “If you receive a letter from ‘Money Network Cardholder Services,’ read it carefully and don’t mistake it for a credit card offer.”
Nearly four million Americans are being sent their Economic Impact Payment by prepaid debit card, instead of by direct deposit or paper check.
These debit cards 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 an Economic Impact Payment Card.
Those who receive Economic Impact Payment by prepaid debit card can do the following without any fees.
- Make purchases online and at any retail location where Visa is accepted
- Get cash from in-network ATMs
- Transfer funds to their personal bank account
- Check their card balance online, by mobile app, or by phone
This free, prepaid card also provides consumer protections available to traditional bank account owners, including protection against fraud, loss, and other errors.
Learn more about the cards at this link: https://www.irs.gov/newsroom/millions-of-people-will-get-their-economic-impact-payment-by-prepaid-debit-card