Don’t throw it out: Economic impact debit cards coming to 4 million Americans this week

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KENDALL, FL – MARCH 07: A member of the congregation prepares her credit cards to be cut up by a saw as she tries to dig herself out of credit card debt during a sermon by Kevin Cross about faith-based financial management at the Miami Vineyard Community Church on March 7, 2009 in Kendall, Florida. […]

PROVIDENCE, R.I. (WPRI) — Earlier this month, United States officials made an announcement that stimulus funds will be coming to some Americans in the form of a debit card.

“Mr. President, we now have developed debit cards,” U.S. Treasury Secretary Steve Mnuchin said.

About four million Americans will receive these cards because the IRS doesn’t have their banking information.

“You need to activate the card, sign the card, keep the card in a safe place, and make sure you get all the facts in regards to the card,” explained Paula Fleming, the Better Business Bureau’s local chief marketing and sales officer.

The letter containing economic impact payment (EIP) card will be from Money Network Card Holder Services, Fleming said, stressing the importance of keeping an eye on mail and carefully inspecting letters.

“Not just tossing something because it looks like a fake credit card or debit card,” she said.

Fleming said there is a way to transfer the funds if you plan to use the money toward rent or utilities.

“It will give you specific directions on how you can use the card after it’s activated and if there are any fees associated with the use of the card or transferring funds,” Fleming added.

Go to EIPCard.com to register your card and learn more.

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