OT: Economic stimulus debit cards

[yngpunk]

Originally Posted by donevwil

Also received debit cards when I recently ditched AT&T and Directv, so I now have three debit cards in my wallet and it appears most stores do not allow their use if the balance isn't equal to or exceeding the purchase total. Annoying!

Not sure what stores you are trying to use them at, but check the card balance before hand, and then ask the cashier to charge the balance to the debit card and then pay the balance via some other means (another card or cash). Alternatively, you can use the debit card to buy an Amazon gift card for your Amazon account.

[pasadena]

The debit cards are a huge moneymaker for the banks. Just another fleecing of American taxpayers.
Added to the junk mail effect, it is also difficult for people to track and use all of the money in their accounts- millions of accounts that the debit card owner did not sign up for btw.
That is 100s of millions collecting interest for the banks.

Originally Posted by rounder

I got a paper check for me and my wife. Not sure how/why the government started offering bank cards for the stimulus payments, but I read that some people have tossed their cards because they believed they were junk mail. I have not seen any instructions for reclaiming their lost stimulus funds.

[donevwil]

Originally Posted by yngpunk

Not sure what stores you are trying to use them at, but check the card balance before hand, and then ask the cashier to charge the balance to the debit card and then pay the balance via some other means (another card or cash). Alternatively, you can use the debit card to buy an Amazon gift card for your Amazon account.

I've tried, Trader Joes, Whole Foods, Raley's, local super market. All say they can't do it. Just annoying not insurmountable, find a store that accommodates and cash them out. Obviously someone is making money on this.

Gift cards are a good idea, nephew's b'day is coming.

[Johnnyg]

So is there money in the account when you receive the card?

[Davist]

Originally Posted by pasadena

The debit cards are a huge moneymaker for the banks. Just another fleecing of American taxpayers.
Added to the junk mail effect, it is also difficult for people to track and use all of the money in their accounts- millions of accounts that the debit card owner did not sign up for btw.
That is 100s of millions collecting interest for the banks.

uh, no, the fleecing was the trillions spent on ? not sure/CARES/covid.. this is part of it. $70k per household ($7T/100M households roughly) devaluing M2 (was $20T now it's nearly $30T) etc. The only bipartisan thing in the last decade, right? Using a 3rd party to manage debit cards seems like a smart move, efficiency wise. Agree they shoulda told us. I was surprised to receive one at all don't want it but anyway..

IF your tax return didn't have "up to date" (within last 2 years) direct deposit info they sent this, as I understand it.

[C40_guy]

Originally Posted by Davist

IF your tax return didn't have "up to date" (within last 2 years) direct deposit info they sent this, as I understand it.

I thought checks were sent out to those without DD info...maybe somebody wanted to direct some debit card business to a banking friend...or figured out that while a high percentage of checks would be deposited/cashed, a lower percentage of the money sent via debit cards would actually be used. And the money spent could be tracked...

[Davist]

Originally Posted by C40_guy

I thought checks were sent out to those without DD info...maybe somebody wanted to direct some debit card business to a banking friend...or figured out that while a high percentage of checks would be deposited/cashed, a lower percentage of the money sent via debit cards would actually be used. And the money spent could be tracked...

Could be, definitely debit/gift cards are a big money maker and you get tracking.. again, my DD info wasn't up to date (I write a check every year to taxes, no free loans to gov't)

[unterhausen]

I guess they didn't use last year's tax returns to calculate ours, I don't understand the amount at all

[bigbill]

It's probably in here somewhere, but tax prep software such as turbo tax didn't transfer DD information to the IRS data base for sending out checks. You have to go to IRS.gov to update your data. My son got his direct deposited into his account, my dad and his wife live on SS and their checks were DD as well. I don't get one.