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Economic Impact Payment Card - scam? #5435248 05/21/20 04:30 PM
Joined: Aug 2004
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sasilverbullet Offline OP
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Just received a envelope with a VISA debit card in it, letter is from Money Network Cardholder services. It says it's $2400 from Uncle Sam as a result of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act)

Is this a scam or legit?

And if legit, will I have to pay uncle sam back come 2020 tax filing season?

Last edited by sasilverbullet; 05/21/20 04:31 PM. Reason: add tax

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Re: Economic Impact Payment Card - scam? [Re: sasilverbullet] #5435249 05/21/20 04:31 PM
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aquariuscsm Offline
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It’s either a scam or a cc with some weird $2400 limit?


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Re: Economic Impact Payment Card - scam? [Re: sasilverbullet] #5435254 05/21/20 04:36 PM
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eljefino Offline
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How did you file your taxes? Eg did you do a direct deposit, rapid refund, etc?

The US DOES use debit cards for random stuff, so they can kick money to bankers, but this sounds shady AF. It's "supposed" to go to whatever account you did your taxes with (or specifically told them about.) There ARE credit card companies that accept direct deposits, usually intended for the "unbanked" and based out of stores like Family Dollar.

Re: Economic Impact Payment Card - scam? [Re: sasilverbullet] #5435255 05/21/20 04:36 PM
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02SE Offline
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You should find an answer to your question here: IRS.gov

Scroll down to question 45

Last edited by 02SE; 05/21/20 04:39 PM.
Re: Economic Impact Payment Card - scam? [Re: sasilverbullet] #5435268 05/21/20 04:49 PM
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laserred96gt Offline
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I was reading an article the other day that some stimulus payments will be sent out via debit card.
https://abc7ny.com/finance/some-stimulus-payments-coming-via-prepaid-debit-cards/6196238/

Last edited by laserred96gt; 05/21/20 04:50 PM.

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Re: Economic Impact Payment Card - scam? [Re: sasilverbullet] #5435290 05/21/20 05:18 PM
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Jethro_Bob Offline
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It's a tax credit similar to to child tax credit. You will not need to pay it back, and it will not lower your refund if you overpay or have too much withheld.

Last edited by Jethro_Bob; 05/21/20 05:19 PM.
Re: Economic Impact Payment Card - scam? [Re: sasilverbullet] #5435293 05/21/20 05:21 PM
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spasm3 Offline
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You won't have to pay it back per say. But we will all pay it back over time. grin2


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Re: Economic Impact Payment Card - scam? [Re: sasilverbullet] #5435295 05/21/20 05:27 PM
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twouvakind Offline
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$4 million is going out via these debit cards. Can be used at ATM too.


Just put the friggin' Maxlife in and be done with it!
Re: Economic Impact Payment Card - scam? [Re: sasilverbullet] #5435330 05/21/20 06:28 PM
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gathermewool Offline
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Does no one read the news or know how to use the Googles?


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Re: Economic Impact Payment Card - scam? [Re: sasilverbullet] #5435351 05/21/20 07:08 PM
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javacontour Offline
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The limits are not exactly 75k/150k

The phase out starts at these incomes. Once you get to 99k / 198k the stimulus goes to zero. Between 75k and 99k you get a stimulus payment between 0 and 1200


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Re: Economic Impact Payment Card - scam? [Re: sasilverbullet] #5435546 05/22/20 12:21 AM
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daves87rs Offline
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Good friend of mine got one. It’s for those who usually get their refunds by good old fashioned check.

It’s legit. smile


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Re: Economic Impact Payment Card - scam? [Re: sasilverbullet] #5435548 05/22/20 12:34 AM
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GumbyJarvis Offline
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Anyone see the Sonic movie?
Surprised you didnt get a 2400$ Olive Garden Giftcard.

**note I died laughing at that scene as when I enlisted in the military and got picked up from MEPS with 5 other dudes who all passed, the recruiter took us all to Olive Garden afterwards lol


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Re: Economic Impact Payment Card - scam? [Re: sasilverbullet] #5435650 05/22/20 07:53 AM
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Davejam Offline
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Cha Ching.

Haha that's good about olive garden gift card.

Re: Economic Impact Payment Card - scam? [Re: javacontour] #5435679 05/22/20 08:27 AM
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sasilverbullet Offline OP
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Originally Posted by javacontour
The limits are not exactly 75k/150k

The phase out starts at these incomes. Once you get to 99k / 198k the stimulus goes to zero. Between 75k and 99k you get a stimulus payment between 0 and 1200


Thanks! That's what I thought, I'll just put it in my savings account and leave it there. After I file I'll spend what's left.


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Re: Economic Impact Payment Card - scam? [Re: 02SE] #5435681 05/22/20 08:30 AM
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jeepman3071 Offline
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Originally Posted by 02SE
You should find an answer to your question here: IRS.gov

Scroll down to question 45


Bingo.


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