Wednesday, March 3, 2021

Economic Impact Payment Card Scam

The world is facing the Corona Virus crisis. Some countries have come up with new schemes of payment. Since scams and frauds arise with every scheme or policy. A scam has evolved around the EIP card. We shall provide you exact info on the Economic Impact Payment Card Scam.

United States is the only country where EIP card is applicable. It has been initiated to help citizens with online transactions.

What is an EIP card?

US Department of the Treasury and IRS has issued an Economic Impact Payment card. The new scheme has been beneficial for the taxpayers. The Department has so far distributed about 8million Economic Impact Payment cards through the prepaid debit card, check, or direct deposition into the recipient’s bank account in Columbia and 50 states of the United States.

Economic Impact Payment (EIP) has been paid in two rounds by the IRS. The natives either receive a debit card in the first round and a paper check in the second or vice versa.

What is the Economic Impact Payment Card Scam?

The US government is trying to help the citizens in this time of crisis, but certain people can still create scams out of any situation. The senior residents can be the victim of such fraud.

The IRS and US Treasury Department have chosen secure ways to send EIP cards. They never ask for any detailed info about you on the phone. But the fraudsters find out different ways to get easy money. They have succeeded in making the Economic Impact Payment Card Scam possible. 

Scammers follow different means to earn money. They call you and ask questions to get important info of you regarding bank or other details. They can also send emails to get your personal information or provide you with a form to fill in your details.

Specification 

  • EIP card has been received like a debit card or paper check
  • The card is sponsored by the Treasury Department’s Bureau of the Fiscal Service
  • Advertisement
  • $270 have been paid to the taxpayers 
  • Email Address: EIPcard.com
  • Pros of Economic Impact Payment
  • Economic Impact Payment Card can be used for paying bills etc. through online transactions 
  • Can be converted into cash
  • Directly deposited into the bank 
  • Cons of Economic Impact Payment Scam
  • Senior Citizens can become the victim of a fraud
  • It may not be the safe mode to send money through the mail

Is it legit or a scam?

Economic Impact Payment Card Scam is not a scam. The Economic Impact Payment card is sent either as a visa card or paper check. Some people assume that they have received a scam paper check in their mailbox.

 But this genuine card provides $600 to those the having salary of more than $75,000. The couples with an income of $150,000 have received $1200 and $600 for their children. 

How to Activate an EIP Card? 

This card can be activated by calling on the toll-free number 800-240-8100. You will have to tell me your name and address. Then you are asked to create a four-digit PIN for ATM transactions.

Customer Views 

Some of the natives are unaware of this government policy, and it is possible that they can throw the white envelope containing the EIP card. The envelope contains the Treasury Department seal and “Economic Impact Payment Card” return address. 

Conclusion 

We can conclude that the Economic Impact Payment Card Scam is not a scam but a safe and secure mode of sending US residents money. This card has been approved by the American President Donald Trump. This card can be used as a debit card in retail shops and malls that accept Visa card or Master card. 

The viewers can send their feedback in the comments section.

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