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