Coronavirus: Treasury Department to send some stimulus payments on debit cards

Treasury Department sending some stimulus payments on debit cards

It won’t be a check in the mail or a direct deposit. The Treasury Department announced it will send some stimulus payments on a debit card.

About 4 million people will get a Visa debit card that will need to be activated. The Economic Impact Payment card, or EIP, can be used to make purchases, transfer the money to a bank account or get cash at an ATM, CNN reported.

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Single people can get up to $1,200 and couples up to $2,400 depending on their income.

So far the Treasury Department has sent 140 million payments. About 10 million have yet to receive them, CNN reported.

Click here for more information about the fees that may be associated with the EIP card.

Click here for FAQ about the EIP card.

FILE PHOTO: The Department of the Treasury is issuing debit cards for the coronavirus stimulus payment.
FILE PHOTO: The Department of the Treasury is issuing debit cards for the coronavirus stimulus payment. (Chip Somodevilla/Getty Images)