I saw this in a Facebook group https://www.the-sun.com/news/880887/coronavirus-stimulus-check-junk-mail/. I encourage anyone who gets an EIP Debit card to hold onto it as once a second stimulus package is passed, probably either before the July 4th recess or sometime in August, I can see the IRS issuing the second payment to those who received EIP Debit cards for the first stimulus payment. Some unnamed financial expert made the following claim in the link above:
But, a financial expert has warned that due to a “glitch” – eligible people will only get it by debit card or a check in the mail as the IRS has stopped direct deposits into accounts.
Nowhere on the IRS website https://www.irs.gov/, the IRS EIP website – https://www.irs.gov/coronavirus/economic-impact-payment-information-center, or the IRS News Releases website – https://www.irs.gov/newsroom/news-releases-for-current-month is this assertion backed up. The closest is this update – https://www.irs.gov/newsroom/economic-impact-payments-being-sent-by-prepaid-debit-cards-arrive-in-plain-envelope-irsgov-answers-frequently-asked-questions, which references the 4 million EIP Debit cards that were sent out. It makes no mention of more debit cards being sent out.
Some payments may be sent on a prepaid debit card known as The Economic Impact Payment Card The Economic Impact Payment Card is sponsored by the Treasury Department’s Bureau of the Fiscal Service, managed by Money Network Financial, LLC and issued by Treasury’s financial agent, MetaBank®, N.A.
If you receive an Economic Impact Payment Card, it will arrive in a plain envelope from “Money Network Cardholder Services.” The Visa name will appear on the front of the Card; the back of the Card has the name of the issuing bank, MetaBank®, N.A. Information included with the Card will explain that the card is your Economic Impact Payment Card. Please go to EIPcard.com for more information.
Not at this time. For those who don’t receive their Economic Impact Payment by direct deposit, they will receive their payment by paper check, and, in a few cases, by debit card. The determination of which taxpayers receive a debit card will be made by the Bureau of the Fiscal Service (BFS), another part of the Treasury Department that works with the IRS to handle distribution of the payments. BFS is sending nearly 4 million debit cards to taxpayers starting in mid-May. At this time, taxpayers cannot make a selection to receive a debit card. Please go to EIPcard.com for more information.
Also saw a similar wild claim from a TV station: https://www.wusa9.com/article/news/stimulus-check-debit-card-mail-irs-payment-timeline-when/83-5819cb08-54f8-46ad-84df-41b003396b42?fbclid=IwAR27Q2hyKuIkbI04v0EK5tu7y8rXSAF6XppzA9xy2Ig6Obcfe9d4L1i0rQw
At least this station names an individual who doesn’t appear to be a financial expert. Apparently, the IRS hasn’t gotten the memo as they are still doing direct deposits as of today. Again, nowhere on the IRS websites I mentioned above is this claimed backed up. I would trust the IRS website over some named or unnamed person who claims otherwise.
I think the IRS should evaluate how effective and how much faster/slower using the EIP Debit card is in relationship to direct deposits and paper checks and decide if issuing EIP Debit cards is the better way to go. As it is now, paper checks may continue through September according to TV station link above.