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If you get a Coronavirus Stimulus check, we suggest having your money deposited into a Chime Bank Account so you don't get hit with fees that you would get with other prepaid cards.
Chime is a new Visa card that is amazingly free (unless you use the card outside of their large ATM network). This is best alternative to a prepaid card that we've seen in 5+ years and offers all of the benefits of traditional bank account.
It's a real Visa card (not a prepaid debit card which usually have a lot more fees) and people with poor credit can apply too as there is no credit check. Chime can be managed entirely from your smartphone. No overdraft fees. No minimum balance. No monthly service fees. No transfer fees. No Chex Systems. Over 38,000 fee-free ATMs, plus 30,000+ cash-back locations.
And for a limited time, earn a Cash referral bonus of $50 when you tell your friends and family members about Chime and they sign up (and they'll earn $50 too)- details within the app after you apply! Click for more info.- you can apply online in just 2 mins with no obligation. Start by simply entering your email address and clicking “Get Started”– over 3 million customers couldn't be wrong. 🙂 (Referral Link)
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Can I get my Coronavirus Stimulus Money Deposited on a Prepaid Card?
If you do not have a bank account, then this is a way of getting your money without having to wait around for a check. The Consumer Financial Protection Bureau said it is taking regulatory action to pave the way to make it easier for consumers to receive pandemic-relief payments, including the economic impact payments authoriezed in the CARES Act, through prepaid accounts.
We would assume the same goes for all prepaid debit cards where you have received your 2018 & 2019 tax refunds. We know taxpayers who have received their tax returns on prepaid cards through TurboTax will get there Stimulus money on their TurboTax debit card. We would assume the same goes for the other Tax Prep services such as Jackson Hewitt, H & R Block.
We hope this article has helped answer your questions of: Can I get my Coronavirus Stimulus Money Deposited on a Prepaid Card?