Here's what seniors need to know about COVID-19 stimulus checks:
on April 1 doesn’t give specific guidance on if these debit cards will be utilized for stimulus payment. It reads, “Recipients will receive these payments as a direct deposit or by paper check, just as they would normally receive their benefits.”
“There’s been the big shift to electronic payments at Treasury for many years now, and the Direct Express cards have been an important tool for being able to shift away from paper checks,” Boyens says. “The statement that Treasury put out is ambiguous, but it also says beneficiaries will receive payments as they normally would receive their benefits. I would assume they’re using direct deposit as shorthand for electronic payments, but we don’t have specific information.
At a White House press briefing on Thursday, Secretary Mnuchin said the Trump Administration is working with digital companies and prepaid bank cards to make sure the underbanked get stimulus checks in a timely fashion.
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