This Debit Card That Was Mailed to You Is Actually Your Payment in Connection With the Coronavirus
If you receive a debit card in the mail that claims it is your coronavirus relief , don’t throw it away – it’s really legal: This week, the US Treasury announced that it was instead starting to send payments affecting the economy with using a prepaid debit card. paper check. Cards are sent by MetaBank mail.
You can use your prepaid debit card for purchases where Visa cards are accepted, but you can also use it to withdraw cash from ATMs or transfer money to a bank account. All you have to do is activate your card first according to the instructions provided.
There are not many fees for this card that you need to be aware of, except when it comes to ATM withdrawals. If you withdraw cash from an on-net ATM, there is no commission. If you use an ATM offline, you will pay a $ 2 fee, but there is no charge when you first withdraw it. But pay attention to the ATM operator fees that can be charged even if you don’t complete the transaction.
If you plan to receive a cash payment, see the instructions that came with your card for daily withdrawal limits.
This ATM locator helps you find on-net ATMs near you.
If you’d like to take a closer look at the card and the instructions that came with it, the CFPB tweeted a video showing the card and the letter attached to it.
The FTC warns that while this payment method exists, there are many scammers out there who want some of your money to help with the coronavirus.
To keep yourself safe from coronavirus-related fraud, remember that the IRS will not contact you by phone, email, text message or social media about your economic impact payment and you will not be asked for your Social Security number or banking information. through any of these channels.