OT: Economic stimulus debit cards

[el cheapo]

The pre-paid cards are legit. Wonder if the intention by the government was to confuse people into throwing them away? Excellent way to save on the payout program.

[soulspinner]

Just bought bike stuff with my prepayed card from uncle sam

[Spaghetti Legs]

Originally Posted by el cheapo

The pre-paid cards are legit. Wonder if the intention by the government was to confuse people into throwing them away? Excellent way to save on the payout program.

Except the card mentioned by the OP came from a 3rd party, so sounds like the government contracted out and someone else is making money on it.

[makoti]

Originally Posted by Clean39T

Those folks can still get replacement cards, right? But of course how many will......

Same scam, er...natural business decision, most retailers make when issuing gift-cards - not only is there a service fee, but a certain percentage simply disappear into the ether and the issuer gets to pocket the funds eventually.

Yes, for a price. The list of fees included "replacement card". I think it was $12

[Kyle h]

I would wager it’s a move to get people to spend their stimulus instead of save it. I would say if the people I’ve talked to about it, a lot are saving which kind of goes against the purpose of it.

[oldpotatoe]

Originally Posted by Plum Hill

One of he news programs had a feature about people that tossed or cut up the cards thinking they were pre-approved credit cards. One could blame them for not checking. OTOH a poor way of doing things from our government.

What a surprise..my sister in law got one of these..no requrest or anything else to get it in this form..PITA to get it into her bank account, particularly when she(older) doesn't want to sit inside a bank.

Wonder if the intention by the government was to confuse people into throwing them away? Excellent way to save on the payout program.

Or most won't use the entire amount if using as a card..A BIG selling point for those who sell these programs in retail places..

For right above...

I would wager it’s a move to get people to spend their stimulus instead of saving it

What happened: With spending falling faster than income, the savings rate shot up to 13.1% from 8% in February. That’s the highest rate in 39 years.

People aren't going out, aren't 'spending' but I think a LOT are saving rather than spending to prepare for the next crisis..what is going on right now in many cities..or the next one..I think an "iphone every year" times are over..they are for us...

[soulspinner]

Originally Posted by likebikes

i still think it's a scam

Just bought bike stuff with the card. Not a scam but a pain in the arse compared to direct deposit that we have. Also no place in the world does my professional wife use my last name but that's what the card says. Any thoughts how that happened?

[oldpotatoe]

Originally Posted by soulspinner

Just bought bike stuff with the card. Not a scam but a pain in the arse compared to direct deposit that we have. Also no place in the world does my professional wife use my last name but that's what the card says. Any thoughts how that happened?

HA...my wife got a check for her deceased mother..it even said her name, then DSC on it...The goats are loose.

[smontanaro]

Originally Posted by Spaghetti Legs

... someone else is making money on it.

That seems to always be the case. Witness the paycheck protection program administered through banks where the fees the bank received were proportional to the size of the loan. Why bother with a skimpy $500k loan when you can make 10x in fees for a $5M loan (doing essentially the same work)?

[JONATHANPATTIE]

STIMULUS : a thing that rouses activity or energy in someone or something; a spur or incentive. a plastic card.

[ultraman6970]

The gvmt has more control to know on what the money has been used, just ask the card company and they can tell them. Statistic purposes, that helps planing because they can reinforce the production or channel stuff to those areas the people is consuming the most, which IMO is not bad.

[soulspinner]

Originally Posted by oldpotatoe

HA...my wife got a check for her deceased mother..it even said her name, then DSC on it...The goats are loose.

[donevwil]

I volunteered the Federal Work Share program offered by my employer, work a 32 hr week and receive unemployment for the remaining 8 so they don't have to lay anyone off. The EDD sent me a debit card for the $$, reloaded bi-weekly.

Interesting idea, but would seem to make far more sense for a single stimulus payment than unemployment. 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!

[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.

[flying]

deleted...found answer in article linked