To make a money transfer from your stimulus debit card to your bank account, go to the EIP Card website or use the Money Network mobile app and pick the option to ″Move Money Out″ from the drop-down menu. To complete the transfer, you’ll need to have both your bank’s routing number and the account number associated with it.
What is the economic impact payment card?
The Economic Impact Payment Card is a VISA prepaid debit card that may be used to make purchases.In your place, the government has pre-loaded your Economic Impact Payment into a pre-paid card.You will not be required to repay this money, and you will not be subject to taxation on this money.Once activated, your money is secure on this card, which is covered by the Federal Deposit Insurance Corporation.
How do I transfer money from my eipcard to my bank?
Logging onto your EIPCard.com account and initiating a transfer will allow you to move your money (up to $2,500 per transaction) to a personal account without incurring any fees. When transferring funds to a personal bank or credit union account, you will need to provide the routing and account number for your personal account at EIPcard.com in order for the transfer to be successful.
How are economic impact payments distributed?
Instead of receiving a paper check, over four million people are now receiving their Economic Impact Payment via a prepaid debit card instead. The Bureau of the Fiscal Service, another division of the Treasury Department that collaborates with the Internal Revenue Service to handle payment distribution, made the decision on which taxpayers would receive a debit card in the mail.
Why did I receive an EIP card?
You were issued an EIP Card because you are eligible for an Economic Impact Payment and the Internal Revenue Service did not have your bank account information on file. The EIP Card enables you to have access to your Economic Impact Payment in a timely manner. What factors went into determining the amount of my Economic Impact Payment?