Eip Card Scam [May] Is It legit or Not? -> In this article, we will learn about a stimulus payment for people suffering because of the Pandemic Corona Virus crisis.
What type of cards do you use to fulfill your financial needs? Now use Eipcard and check Eip Card Scam or not. The demand for commercial service is increasing due to pandemic COVID-19; the importance of EIP card is also growing a lot.
Not many people know about it, so sharing all the information about this essential Card feeds you during the COVID-19 crisis. Issued by IRS to residents of the United-State, it has over 140 million economic impact payments guaranteed by CARES Act.
If you are one of those who require this supporting hand from the government, do read out the entire article to learn everything about it.
What is EIP Card?
Eipcard.com is a prepaid debit card issued by MetaBank on the Visa Network known as Economic Impact Payment Cards. People who are eligible for it can receive up to $1200 per individual on the devastating consequences of Coronavirus pandemic continue to rip through the economy.
Earlier, the government issued the payment through direct deposit or physical check. And starting from this week, the treasury and IRS began to send out cash to 4 million people using a new method called EIP card.
Specifications of EIP card:
- Website: https://www.eipcard.com/
- Card Type: Prepaid Card
- Sponsor: Treasury Department’s Bureau of Fiscal Service
- Money Gateway: Visa Cards
- Managed by: Money Network Financial LLC
- Issued by: MetaBank – Treasury Financial Agent
- Approved by: IRS department
- Call us: 1800 240 8100
Is Eip Card genuine?
Now we have enough information about the Card to learn whether Eip card Scam or not. As issued by IRS for people of the United-States, this Card helps the needy. Earlier, the government was paying by bank transfer and paycheck; however, it will likely be sent to 4 million people across the nation with the help of MetaBank.
Considering all the facts and figures, it is not a scam. It is available to people to overcome the financial crisis they are facing due to the Corona Virus pandemic.
Things to know about it:
- Not everyone will get this Card: In case you are waiting for it, that does not mean you will get your economic Card. It will be available to the ones who do not have bank account information available with the IRS. Sending money via Card is more comfortable than a physical check, which requires some time to get it to deliver.
- A cost may be applicable: It has no maintenance fee associated, but a specific fee will be applicable. For instance, if you do out-of-network ATM withdrawals to withdraw cash, your first transaction will be free, but later you will be charged with $2. Moreover, you may get charged for balance inquiries, out of network ATM withdrawals, and while requesting a replacement card.
- Online registration for easy access: You can register for your EIP card online and makes it easier to access information such as balance, online shopping without spending money charge on ATM withdrawals or checking balance at ATM. All you need to do is register yourself as a new user, and applicable is also available for both iOS and Android.
- Unlike direct express cards, if you are already receiving benefits from the government, such as social security on direct express Cards, do not get confused. EIP cards are different; you can expect the payment on direct express cards and federal benefits.
- Take care of Scams: The pandemic of COVID-19 has put millions into vulnerable positions – EIP Scams are likely to happen and capitalize on it. The FTC – Federal Trade Commission has a website to warn customers about potential scams and how they can protect themselves.
How to use an EIP card with no fee?
There are several ways you can use the Card without incurring any fee.
- Make sure to signature or pin purchases where VISA debit cards machines.
- Get cashback with PIN purchases, wherever available.
- You can transfer funds to the personal account.
As of now, over 140 million stimulus payments delivered so far, and more are on the way. This week IRS is sending Eipcards to 4 million people to help them feed during this pandemic. People need to understand there is some fee to pay when using out-of-network-ATMs or while withdrawing. They can register themselves online and shop for free using the card number and pin.