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Economic Impact Payment (EIP) Updates

This week, Treasury and the IRS are starting to send nearly 4 million Economic Impact Payments (EIPs) by prepaid debit card, instead of by paper check. EIP Card recipients can make purchases, get cash from in-network ATMs, and transfer funds to their personal bank account without incurring any fees. They can also check their card balance online, by mobile app, or by phone without incurring fees. The EIP Card can be used online, at ATMs, or at any retail location where Visa is accepted. This free, prepaid card also provides consumer protections available to traditional bank account owners, including protections against fraud, loss, and other errors. For more details, see the full press release from the US Department of Treasury or this video from the CFPB.

For more information on the Economic Impact Payment, call our intake line at 323-939-0506 or see the following from our resources page: EIP FAQ (English), EIP FAQ (Spanish), EIP FAQ (Russian), EIP FAQ (Armenian), EIP FAQ (Korean).