Nearly four million people are being sent their Economic Impact Payment by prepaid debit card, instead of paper check.
To transfer the money off the debit card and into your bank or credit union account, please follow this three-step process.
1. Activate your card.
The letter you received with your debit card says to call 1-800-240-8100 to activate your card and set your 4-digit PIN.
After calling the number and listening to a intro, you press 1 for English, press 1 to activate your card, enter the card number followed by #, enter the last 6 digits of your social security number followed by #, enter your chosen PIN, and reenter that PIN.
2. Create an EIPCard.com login.
The next step is to go online to EIPCard.com and click the “Login” button in the upper right corner. On the next page, click “Register Now” at the bottom.
Complete the 5-step registration process, then verify your contact information.
3. Transfer the assets.
Once your account is setup, you should see the EIPCard.com dashboard which look like this:
Click on “Transfers in U.S.” One the next page, you’ll be asked for the following information:
- Enter Amount to transfer*
- Enter Account information*
- Account Type* [Checking or Savings]
- Bank/Institution Name*
- Routing/Transit Number*
- Account Number*
- Confirm Account Number*
- First Name*
- Middle Name
- Last Name*
- Review costs of funds transfer
Then, it will ask you to verify your transfer and click submit.
On success, the page said, “Thank you. Your funds have been successfully transferred. Fund transferred may not be available until the next business day.”
Now, you just wait for the distribution to come in to credit union account.
Information and images in the this article were sourced from: https://www.marottaonmoney.com/how-to-transfer-your-economic-impact-payment-card-into-your-bank-account/