That Visa Debit Card is your $1200, it's not a scam

[Alan Rutherford]

I'm used to cleverly-constructed scams showing up in the mail and I was ready to toss this one from Money Network Cardholder Services until I read "Authorized by the US Treasury". If it was a scam, it would be a bold one. Turns out the gov't is sending Stimulus payments by debit card to several million people they don't have direct deposit informaion for. It's legitimate. Don't toss that card.

I'm peeved that it comes with a full set of fees for almost everything you might want to do, but I believe we can move the money to an account and be done with it. Google "stimulus debit card" for more details.

[Jim Becker]

Yes, that's correct. I found that out yesterday when I got one in the mail...although in the end it was only worth a whopping $210.30. :) It also had me with Professor Dr. SWMBO's last name instead of my own. LOL (You would think that the IRS would know that, not to mention know the checking account I pay what I owe EVERY year at tax time with) Here's a link to the CFPB note on the same...don't throw out that card. It will cost you to get it replaced!

https://www.consumerfinance.gov/about-us/blog/economic-impact-payment-prepaid-card/#scam

[Jamie Buxton]

Yeah, some company sent me a refund as a gift card -- that is a pre-loaded debit card. It too had all sorts of fees and gimmicks intended to make money for the card issuer. I dug around in the fine print that came with the card, and found a phone number to call to get the issuer to send me a check. They eventually did. But it took work on my part just to get the money the original company owned me. Makes me grumpy.

[Doug Dawson]

I'm used to cleverly-constructed scams showing up in the mail and I was ready to toss this one from Money Network Cardholder Services until I read "Authorized by the US Treasury". If it was a scam, it would be a bold one. Turns out the gov't is sending Stimulus payments by debit card to several million people they don't have direct deposit informaion for. It's legitimate. Don't toss that card.

I'm peeved that it comes with a full set of fees for almost everything you might want to do, but I believe we can move the money to an account and be done with it. Google "stimulus debit card" for more details.

THis appears to be aimed squarely at Blue State retirees who were initially shafted by the removal of the SALT exemptions. But it apparently goes much further than that. Who knew.

[Bruce Wrenn]

Got a letter this week telling us, ours would come as a debit card. Only problem is two weeks ago, we deposited the check. We will wait and see. Week before last was at post office, when a customer was mailing IRS a scathing letter. Seem the direct deposited her money in someone else's account. People who got Refund anticipation loans found their money to be deposited into who made them the loan's account

[Kev Williams]

The gov't has zero direct deposit info for us. I've never e-filed anything. Biz and personal returns, estimated, state returns, all done on and paid for with paper...

Thankfully, our paper check arrived yesterday instead of a plastic card...

I've never liked pre-loaded cards. So question [Think Richard Pryor in Superman 3], who gets the unspent money on the cards? ;)

[Ole Anderson]

We got our stimulus paper check yesterday $2,400. Not sure why it wasn't direct deposited. Like a lot of other people, we really didn't need it to survive. It will just go to pay down the credit card bill. Not stimulating anyone other than the bank. Not happy adding three trillion to the national debt when it could have been half that to help just the folks that really needed it.

[George Bokros]

I heard this on the TV news a week or so back. When you file your taxes and have IRS deduct your tax payment you do not give them permission to deposit funds to your account only transfer payment of taxes out. .

[David Buchhauser]

Got mine in the mail. So did all my friends and family. Don't know anyone who received direct deposit. But it all spends the same! Help stimulate the economy.
David

[Jim Becker]

I heard this on the TV news a week or so back. When you file your taxes and have IRS deduct your tax payment you do not give them permission to deposit funds to your account only transfer payment of taxes out. .

Even so, I'm receiving SSI so the government direct deposits to to my personal checking account monthly and my spouse's name is also on the account. (and mine is on her's, too). But in the end, no matter. Within a half hour of receiving my "stimulus debit card" for the whopping $210.30 it was worth, the money was transfered to my bank account and the card put away in a dark place. BTW, for folks who receive them, be sure you uncheck all the marketing boxes so that the originating bank (presumably) will not inundate you with offers to add money to the debit card later, etc.

[John K Jordan]

... Like a lot of other people, we really didn't need it to survive. ... Not stimulating anyone other than the bank. Not happy adding three trillion to the national debt when it could have been half that to help just the folks that really needed it.

Same here. But I did find a use for mine to stimulate the economy - I hired a college student when her summer job fell through because of the recession. This way I get the part-time farm help and she will use the money when school starts in August.

JKJ

[Thomas L Carpenter]

My wife and I both get SS direct deposit. I also get VA disability direct deposit. Just received our check via Postal Service yesterday. Guess they don't talk to each other.

[Darcy Warner]

People got money?

Hmmmmm

[Stan Calow]

I'm one of the many thousands whose deceased parent got a check.

[George Bokros]

But in the end, no matter. Within a half hour of receiving my "stimulus debit card" for the whopping $210.30 it was worth.

Why is it worth only $210.30??

[Mike Null]

We received our $1200 each via direct deposit. We receive our SS through direct deposit as well. I don't understand the $210.30 amount.

[glenn bradley]

LOL (You would think that the IRS would know that, not to mention know the checking account I pay what I owe EVERY year at tax time with)

Oh, I'm sure they dutifully sub'd that job out to the lowest bidder (or highest briber) who put their very best minimum-wage temps on the job. :D

[Jim Becker]

Why is it worth only $210.30??

Income thresholds. Honestly, it was a surprise as I didn't expect anything at all.

[Derek Meyer]

I received my stimulus via direct deposit over a month ago. My wife, who e-filed taxes last year but had to pay, has not received anything yet. Every time she tries to check online or submit her account information for direct deposit they system rejects her. She gets mad at me when I tell her she'll probably get a paper check sometime in September.:D

[David Buchhauser]

My understanding is that you will receive the entire $1200 if you make under $50K per year. Between $50K and $100k will receive some portion of the $1200, and folks with income over $100k will receive nothing.
David

[Jim Becker]

My understanding is that you will receive the entire $1200 if you make under $50K per year. Between $50K and $100k will receive some portion of the $1200, and folks with income over $100k will receive nothing.
David
That's for individuals relative to the numbers. There is a similar progression for married filing jointly, but the limits are correspondingly higher for the phase out.

[Frank Drackman]

Ours was directly deposited in our bank account. The only issue is that that bank didn't release the funds for days. I got a kick out of that.




I heard this on the TV news a week or so back. When you file your taxes and have IRS deduct your tax payment you do not give them permission to deposit funds to your account only transfer payment of taxes out. .

[Brian Elfert]

I just got my money from the Treasury today and it was a check, not a debit card. The check will be in the bank today. I paid my taxes via my bank account so the IRS couldn't do direct deposit. The system to add my bank account number to get a direct deposit kept giving me the not eligible error so I never could add my bank account number.

I was not expecting my check for weeks yet.

[John E. Hobart]

We got a paper check last week, even though we both are drawing SSI wasn't expecting it until July.

[Alan Rutherford]

...I'm peeved that it comes with a full set of fees for almost everything you might want to do....

Now that I've activated the card and read all the legalese and associated stuff, I have to say that the fees seem reasonable. There are no fees for purchases at any merchant that lets you use a Visa cebit card with a PIN and no fees for ATM withdrawals from in-network ATM's, which you can find on-line or with an app. There are a reasonable number near us. No fee to transfer to my bank account.

I'm still kinda bothered by the whole idea. As has been suggested, what happens to unspent balances? And how many people would not realize what it is and toss it or fail to activate it? I would have liked to know I was getting a card and not a check, just to avoid the confusion. But i'm not going to send it back.

[Jim Becker]

There is no fee to transfer the entire contents to your checking account...so why keep the money on that debit card? I took care of that as soon as I activated my card and it had a zero balance a few moments later.