Ever heard about the economic impact payment card? It is a card that enables you to make swift and a very fast payment for goods and services. You see, the Economic impact payment card has been trending for a while now. This trend occurred right during the COVID period and still seems to be trending till date.
In this article, I will be sharing with you everything that you need to know about this newly introduced economic impact payment card, how it works, what it was introduced for, how to withdraw money from it, and even lot of other tiny details that you should know about this new and trending card. So, without wasting of time, let us get into it –
What Is Economic Impact Payment Card?
The Economic impact payment card is a recent card that is aimed at providing economic relieves to their holders. It was introduced during the economic crisis of the COVID-19 where United States citizens were demanded to sit at home.
The Economic impact payment card is also known as the EIP card. It is a treasury sponsored prepaid debit card branded by VISA and which aims to provide a safe, convenient,easy and a secured way of making payment or carrying out other form of transactions.
The EIP card, also known as the Economic Impact Payment Card is a great way for recipient of the economic impact payment who will not have to go to a bank or credit union to cash a check.
It usually comes in a plain envelope from the “Money Network Cardholder Services” along with several other crucial information about the EIP card. Some of this instructions include the card fees, and also, a note from the United States Treasury. The EIP card has the words “VISA” and “DEBIT” on the front and the issuing bank, “MetaBank, N.A.”, on the back.
How Does The Economic Impact Payment Card Work?
As I had stated earlier, the Economic impact payment card was given by government during the COVID period so as to help citizens withdraw their economic impact payment funds without a need of any other prepaid card or debit card. With it, the card holder can make payments.
Can I Cash An Economic Impact Payment Card?
Yes, you can cash a economic impact payment card if you want to. The process of cashing the card is very simple and it will be talked about in depth later in this article.
How Do I Cash An Economic Impact Payment Card?
There are various ways of cashing an economic impact card. And in just a moment, I will be showing you how to cash on each of them.
Below are the various ways of cashing an economic impact payment card –
1. Cashing Via An ATM
One of the most popular ways of cashing an EIP card, also known as the Economic Impact Card is via an ATM. And yes, it can be done.
Below is a step by step guide on how to cash an economic impact card via an ATM –
- Visit the ATM
- Insert your card
- Enter your IEP card pin
- Click to withdraw
- Enter the amount that you wish to withdraw
- Get your cash
However, you must note that for this to be successful, you must have sufficient fund in your economic impact payment card.
2. Cashing Via A Bank Or Credit Union Teller
Another way of cashing an economic impact payment card is via a bank or a credit union teller. This involves going to the bank to inform them of your intention to withdraw cash.
Below are steps on how to cash an economic impact payment card via a bank or credit union teller ;
- Visit the bank or a Credit Union branch
- Tell them the amount that you wish to withdraw
- Fill the form presented to you, entering the required details
- The teller will hand over your Cash to you.
Also, for this to be successful, you must request for an amount that is equal to or less than the balance of your economic impact payment card.
How To Activate And Start Using Economic Impact Payment Card?
The Economic Impact Payment card is given by the government to citizens who have the economic impact payment. The card is usually delivered through mail. However, after getting it via mail, one needs to also activate it before they can use it.
Below are steps on how to activate and start using economic impact payment card ;
- Visit their official website at EIPCard.com or use the Mobile Network Mobile App
- Click on Register
- Enter your details
- Create your User ID and Password
- Enter your EIP card details. This includes the card number and name
After activating the economic impact payment card, you can then start making use of it. Apart from this, it only remains a piece of toy in your hands.
Can I Know How Much Money Is On The Economic Impact Payment Card?
Yes, you can know how much is on your economic impact payment card. With this, you get to avoid some stress that comes with checking your economic impact payment card balance before carrying out a transaction.
How To Check Economic Impact Payment Card Balance
As I had stated earlier, you can check how much is on the economic impact payment card. Below are steps on how to check how much is on the economic impact payment card –
- Visit the economic impact payment website at EIPcard.com or use the Mobile Network Mobile App
- Log in to your economic impact payment account
- Go to balance
- Your balance is now shown on the screen
Where Can I Use My Economic Payment Card?
There are a whole lot of places where you can use your economic impact payment card, also known as the EIP card. You can use it as a standard debit card for your day-to-day transactions. And also, at ATM’s and places where Visa debit cards are accepted as a form of payment.
FAQ’s
Is The Economic Impact Payment Card Legitimate?
Yes, the economic impact payment card is very legitimate. It is backed by the government and it is not a scam.
Why Did I Get An Economic Impact Payment Card?
You were give the economic impact payment card by the government so you can make use of the economic impact payment.
Is Economic Payment Card Valid?
Yes, the economic impact payment card is very valid. It is used across a lot of places as a means of payment for goods and services.
Can I Apply For EIP Card?
Yes, you can apply for the EIP card if you believe that you should be given. The government will review the process by themselves before sending the card to your mail.
Can I Use The Economic Payment Card To Withdraw Money?
Yes, as I had stated earlier, you can use the economic impact payment card to withdraw money. And in this article, I have shown how to use the economic payment card to withdraw money. You can read it above.
Can I Contact The EIP Customer Service When I Have Any Problem?
Yes, you can contact the economic impact payment customer service and get help from them anytime you are having a challenge there. In fact, you can contact them by dialing their phone number at 1.800. 240.8100
Is The Economic Impact Payment Taxable?
No, the economic impact payment is not subject to tax. The recipient can make use of them without being afraid of paying tax for them or not.
Summary
Definitely you must have learnt everything about economic impact payment card. Go ahead and refer to our related articles for more guide, and also use the comment box below to give us feedback.