The anticipation for a possible third round of stimulus payments is growing by the day. With the ongoing COVID-19 pandemic causing financial hardships for many Americans, this relief money could be a saving grace for some. But the question remains: will my next stimulus payment be sent to my EIP Card if I received my last payment there 2?
For those who received their second stimulus payment on an EIP Card, it’s natural to wonder if that’s where the third payment will be going as well. The EIP Card proved to be a quick and convenient way to access stimulus funds without having to wait for a check to arrive in the mail. But will the government stick to this method for the upcoming round of payments?
It’s important to stay informed on the latest developments regarding stimulus payments to ensure you don’t miss out on any potential relief funds. Keep an eye out for news and updates on EIP Cards, direct deposit, and other ways the government may choose to distribute the next round of stimulus payments. Whether you’re a hopeful recipient or simply curious about the process, the question of where the next round of stimulus payments will go remains on everyone’s minds.
How to check the status of your stimulus payment
As the Coronavirus pandemic continues, many Americans eagerly await news of another stimulus payment. If you received your last stimulus payment on an EIP card and are wondering whether or not your next payment will be sent there, there are a few ways to check for updates.
- Use the IRS “Get My Payment” tool: This is the quickest and easiest way to check the status of your payment. Go to the IRS website and click on the “Get My Payment” tool. You’ll be prompted to enter your Social Security number, date of birth, and mailing address. The tool will then display the status of your payment, as well as the method by which it will be delivered.
- Call the IRS: If you prefer, you can also call the IRS to track the status of your stimulus payment. The toll-free number to call is 800-919-9835. The IRS has live phone assistance available Monday through Friday from 7 a.m. to 7 p.m. local time.
- Contact your bank or financial institution: If your payment is being deposited directly into your bank account, you can check with your bank or financial institution to see if the payment has been received. Note that some banks may hold the payment for a day or two before releasing it to your account.
It’s important to note that stimulus payments are typically sent out in batches, so it’s possible that you may receive yours before you’re able to check its status. However, if you’re experiencing financial hardship and need the money urgently, checking the status of your payment can provide some peace of mind.
If you received your previous stimulus payment on an EIP card, it’s likely that your next payment will also be sent there. However, it’s always a good idea to check the status of your payment to make sure it’s on its way.
What is an EIP Card and How Does it Work?
If you’re eligible to receive stimulus payments from the federal government, you may have received them through an Economic Impact Payment (EIP) card. This is a type of prepaid debit card that functions similarly to a standard bank debit card but is issued by the U.S. Treasury Department.
EIP cards are loaded with the amount of your stimulus payment and can be used for purchases at retailers that accept Visa debit cards, withdrawing cash from ATMs, and transferring funds to your bank account for no additional charge.
Benefits of Using an EIP Card
- EIP cards are a safe and secure way to receive your stimulus payment without having to wait for a paper check to arrive in the mail.
- The card can be used at millions of locations that accept Visa debit cards, making it easy to use for everyday purchases and bill payments.
- ATM cash withdrawals are free at in-network ATMs, and you can also transfer funds to your linked bank account without any fees.
- The card is FDIC-insured, so your funds are protected up to the maximum amount allowed by law.
Activating and Using Your EIP Card
If you received your first stimulus payment on an EIP card, chances are the card is still active and you can use it for any subsequent stimulus payments you receive. However, if you received your first payment by paper check, you will need to activate your EIP card before use.
To activate your card, call the activation number provided with the card and follow the prompts. Once activated, you can start using your card immediately for purchases and ATM withdrawals.
It’s important to keep track of your EIP card balance and any fees associated with using it. You can check your balance online or via a toll-free number, and you can also view transaction history and dispute errors.
EIP Card Fees and Limitations
While there aren’t any monthly maintenance fees for EIP cards, there are some fees to be aware of:
| Fee | Amount |
|---|---|
| International ATM withdrawal | $2.00 per transaction |
| ATM balance inquiry | $0.25 per inquiry |
| Customer service call | $0.25 per minute |
It’s also important to note that there are some limitations to using your EIP card:
- The maximum amount you can withdraw per day from an in-network ATM is $1,000.
- The maximum amount you can spend per day at retailers is $2,500.
- If your card is lost or stolen, you may be charged a replacement fee.
Overall, the EIP card provides a convenient and secure way to receive and use your stimulus payment without the need for a bank account or paper check. By understanding how it works and the associated fees and limitations, you can make the most of your payment and avoid any unexpected charges.
Will the amount of my next stimulus payment be the same as the last one?
In short, the answer is no. The amount of your next stimulus payment may not be the same as the last one you received. Although the eligibility criteria for the second and third stimulus payments were similar to those for the first, there were some differences that may impact the payment amount.
- The amount of your payment may be different if you experienced a change in income in 2020 or if you have new dependents.
- The income limits for the third stimulus payment were different from the first two, which may affect your eligibility and payment amount.
- If you owe child support payments or have other debts that are subject to federal offset or garnishment, your payment may be reduced or withheld.
It’s essential to keep in mind that eligibility rules, income limits, and dependencies can all vary from one stimulus payment to the next. If you’re unsure about your eligibility or payment amount, check with the IRS or a tax professional for assistance.
Here is a table outlining the payment amounts for the first, second, and third stimulus payments:
| Stimulus Payment | Maximum Payment Amount for Single Filers | Maximum Payment Amount for Joint Filers (Couple) | Maximum Payment Amount for Each Qualifying Dependent |
|---|---|---|---|
| First | $1,200 | $2,400 | $500 |
| Second | $600 | $1,200 | $600 |
| Third | $1,400 | $2,800 | $1,400 |
As seen in the table, the maximum payment amounts for each stimulus payment were different. Understanding these differences can help you estimate your payment amount for the next stimulus check.
Can I request to receive my stimulus payment via direct deposit instead of an EIP card?
Many individuals prefer to receive their stimulus payment via direct deposit rather than an EIP card, as it allows for faster and more convenient access to the funds. If you received your last payment via the EIP card, you may be wondering if there is an option to change this for the next payment.
- If you haven’t filed your 2020 taxes yet, you can provide your direct deposit information on your tax return. This will ensure that any future stimulus payments will be deposited directly into your bank account.
- If you have already filed your taxes, the IRS has a tool called “Get My Payment” on their website where you can update your direct deposit information.
- If you don’t have access to the internet or experience issues with the tool, you can call the IRS customer service line at 1-800-919-9835 to update your information over the phone.
It’s important to note that if the IRS has already scheduled your payment to be sent as an EIP card, you will not be able to change the method of payment for that payment. However, you can update your information for any future stimulus payments.
Overall, it is possible to request that your stimulus payment be sent via direct deposit instead of an EIP card, and there are several options available to update your information. Make sure to take advantage of these options to ensure that you receive your payment as quickly and conveniently as possible.
Here is a table summarizing the different options:
| Option | How to do it |
|---|---|
| File your 2020 taxes | Provide your direct deposit information on your tax return |
| Get My Payment tool | Update your direct deposit information on the IRS website |
| Call the IRS customer service line | Update your direct deposit information over the phone |
By taking advantage of these options, you can ensure that your stimulus payments are delivered in the way that is most convenient for you.
When can I expect to receive my next stimulus payment?
The IRS is still in the process of sending out the second round of stimulus payments. If you received your last payment via your Economic Impact Payment (EIP) card, then it’s highly likely that your next payment will also be loaded onto that same card.
- If you haven’t received your second stimulus payment yet, check the IRS’s “Get My Payment” tool to track your payment status.
- If you’re eligible for a payment but haven’t received it yet, the IRS will likely send your payment via direct deposit or by mail as a paper check or EIP card.
- The IRS has until January 15, 2021 to send out all second stimulus payments. If you haven’t received your payment by then, you may need to claim the Recovery Rebate Credit on your 2020 tax return.
It’s important to note that not everyone is eligible for a second stimulus payment. Eligibility is based on your adjusted gross income and other factors outlined by the IRS. If you’re unsure if you’re eligible, check the IRS’s website for more information.
Here is a table that shows the phase-out limits for the second stimulus payment:
| Filing Status | Adjusted Gross Income | Payment Amount |
|---|---|---|
| Single | Up to $75,000 | $600 |
| Single | $75,000-$87,000 | Phased out |
| Married filing jointly | Up to $150,000 | $1,200 |
| Married filing jointly | $150,000-$174,000 | Phased out |
| Head of household | Up to $112,500 | $600 |
| Head of household | $112,500-$124,500 | Phased out |
Overall, if you received your last stimulus payment via your EIP card, it’s likely that your next payment will also be loaded onto that same card. Make sure to check the IRS’s website for more information and to track your payment status.
How to Activate and Use Your EIP Card
When you receive your Economic Impact Payment (EIP) card, the first step is to activate it. The card will have a sticker on the front with instructions on how to activate it through the EIP card website or by calling the toll-free number provided.
Once your card is activated, you can start using it just like any other debit card. Here are some tips on how to make the most of your EIP card:
Using Your EIP Card
- Shop online or in-store: You can use your card anywhere that accepts Visa debit cards, whether you’re making purchases in-store or online. Remember to keep track of your balance so you don’t accidentally overspend.
- Get cash back: Some merchants offer cash back when you make a purchase with your EIP card. This is a good way to access cash without having to visit an ATM and pay additional fees.
- Withdraw cash: You can withdraw cash from an ATM, but be aware that there may be fees associated with using out-of-network ATMs. There are several ways to find out where you can withdraw cash without paying additional fees.
Tips to Keep Your EIP Card Safe and Secure
To ensure the security of your EIP card, keep it in a safe place and follow these tips:
- Don’t share your card information: Never give out your EIP card number, expiration date, or security code to anyone over the phone, by email or text message, or on a website.
- Protect your PIN: Memorize your PIN and keep it confidential. Don’t write it down or share it with anyone.
- Monitor your transactions: Check your EIP card balance and transactions regularly to make sure there are no unauthorized charges or withdrawals. If you notice any suspicious activity, contact the EIP card customer service immediately.
EIP Card Fees and Charges
Before you start using your EIP card, it’s important to understand the fees and charges associated with it. Here is a table that outlines the fees and charges for the EIP card:
| Description | Fee |
|---|---|
| Activation | Free |
| Monthly maintenance | $4.95 (waived for the first 12 months) |
| ATM withdrawals | $2.00 per withdrawal (waived for in-network ATMs) |
| Balance inquiry | $0.25 (waived for in-network ATMs) |
| Inactivity fee | $2.00 per month (after 12 months of no activity) |
By understanding how to activate and use your EIP card, you can make the most of your stimulus payment and avoid unnecessary fees and charges. Keep your card safe and monitor your transactions regularly to ensure that your funds are secure.
Are there any fees associated with using an EIP card?
If you received a stimulus payment via an Economic Impact Payment (EIP) debit card last year, you may be wondering if there are any fees associated with using the card. The short answer is yes, there can be fees, but they can be avoided if you use the card correctly.
- ATM Withdrawal Fees: If you use the EIP card to withdraw cash at an ATM, the first withdrawal is free, but subsequent withdrawals will result in a fee ranging from $2-$5 for each transaction. To avoid these fees, use the card at places that offer cash back, rather than withdrawing cash from an ATM.
- Account Balance Check Fees: Checking your account balance on an ATM outside of the MoneyPass network can cost you a fee of up to $0.35. To avoid this fee, check your balance for free at a MoneyPass ATM or by calling the number on the back of the card.
- Replacement Card Fee: If your EIP card is lost, stolen, or damaged, you will need to pay a $7.50 fee to get a replacement card. To avoid this fee, keep track of your card and store it in a safe place.
- Foreign Transaction Fees: If you use the EIP card for transactions outside of the U.S., you may be charged a foreign transaction fee of up to 3% of the purchase amount. To avoid this fee, use the card for domestic transactions only.
In addition to these potential fees, it’s important to note that there are no fees for using the EIP card to make purchases directly with merchants. If you receive another stimulus payment via an EIP card, be sure to read the terms and conditions carefully and use the card wisely to avoid any unnecessary fees.
| Fee Type | Amount |
|---|---|
| ATM Withdrawal | $2-$5 |
| Account Balance Check | Up to $0.35 |
| Replacement Card | $7.50 |
| Foreign Transaction | Up to 3% of purchase amount |
Using an EIP card can be a convenient way to receive a stimulus payment, but it’s important to be aware of potential fees. By avoiding ATM withdrawals, checking balances at MoneyPass ATMs, keeping your card safe, and using the card for domestic transactions only, you can minimize any fees and make the most of your payment.
Will My Next Stimulus Payment Be Sent to My EIP Card If I Received My Last Payment There 2?
1. Can I expect my next stimulus payment to be sent to my EIP card?
Yes, if you received your first or second stimulus payments on your Economic Impact Payment (EIP) card, it is likely that your third stimulus payment will also be sent to the same card.
2. What is an EIP card?
An EIP card is a prepaid debit card that the IRS sent to some taxpayers who do not have a bank account on file or opted to receive their stimulus payment via debit card.
3. Do I need to activate my EIP card to receive my stimulus payment?
No, as long as you have not discarded your previous EIP card, your next stimulus payment will be automatically loaded onto the card.
4. How can I check the balance of my EIP card?
You can check your EIP card balance online at EIPCard.com or by calling the toll-free customer service number on the back of your card.
5. What if I lost my EIP card or my card expired?
If you lost your previous EIP card or it expired, the IRS will send your third stimulus payment via mail to the address they have on file for you.
6. When can I expect to receive my third stimulus payment on my EIP card?
The IRS has already started sending out the third round of stimulus payments. If you are eligible and have a valid EIP card, you should receive your payment in the coming weeks.
Closing Thoughts
Thanks for reading our article on whether your next stimulus payment will be sent to your EIP card if you received your last payment there. We hope these FAQs have answered your questions and provided you with the information you need to expect your upcoming stimulus payment. If you have any further questions, please visit the IRS website for more information. Don’t forget to check back with us for more updates on stimulus payments and other financial news.