![]() Two free ATM withdrawals per benefit deposit at non-Bank of America ATMs (though the other Bank may charge a transaction or service fee).ATM withdrawals at domestic Bank of America ATMs.Cash-back with purchases at grocery stores, drug stores, and U.S.Fees can be avoided by following the tips provided in the welcome packet. When you receive your debit card and welcome packet, thoroughly read your debit card deposit agreement and refer to the Schedule of Bank Fees section to make sure you understand any transaction and service fees that may apply to your card. Direct deposit transfers may also be referred to as a funds transfer.įees can be avoided with careful use of your card.You may begin, modify, or stop your direct deposit transfer at any time.If immediate access to your funds is critical, you may choose to only have a portion of your benefits transferred to your personal bank account and keep the remainder on your card so those funds are immediately available.Do not contact the EDD to set up a direct deposit transfer. This option can be set up by contacting Bank of America either online or by phone, 1-86 (voice) or 1-86 (TTY).Delays may occur until the next business day if you bank at a smaller institution or if the transfer happens over a weekend when banks are closed.Direct deposit transfers can be set up as a one-time transfer or as an automatic recurring transfer.You do not need a checking or savings account with Bank of America to set up a direct deposit transfer to your own bank account with another banking institution.Direct deposit transfers cannot be performed until you receive and activate the debit card.Important Information about direct deposit transfers: After you receive and activate your card, contact Bank of America either online or by phone, 1-86 (voice), or TTY 1-86, to set up your direct deposit transfer. The card will be deactivated to prevent anyone from using it, and a new replacement card will be sent to you.A direct deposit transfer is done electronically and transfers the money available on your debit card account to your personal checking or savings account. For help, you can call customer service at 1-80. The good news is if you did discard or lose yours, the government says it can be replaced. So look for the envelope that comes in the mail from “Money Network Cardholder Services.” There has been very little publicity about these cards, but they were mailed out last month and arrived all over town. So most would think as I did that mail sent by a largely unknown cardholder services is junk mail. Many people would expect such a payment to arrive as a government check or sent by direct deposit into their bank account. It turns out that some four million Americans will receive a COVID 19 stimulus check in the form of a prepaid debit card or a check. When I registered online, I learned the card contained several hundred dollars – found money, which I almost had thrown away! I was told I can use my EIP card to buy groceries at stores, make purchases online, get cash from an ATM, or simply transfer the funds to my bank account. I quickly rescued the debit card from the scrap heap, and read the instructions again. Then one day last week came another envelope, this from the US Treasury Department, and an enclosed letter with that scribbled signature that the man who sits in the White House uses, telling me he would send me a card with some money on it to help get through this current fiscal crisis. And there it sat, unattended but not thrown away, for about two weeks. Still skeptical, I left it in a pile of other “get around-to-it” mail and message items that relentlessly pile up on the dining room table. Now that you’ve received your Card, here’s how to activate and start using it.” The EIP Card is sponsored by the US Treasury Department’s Bureau of the Fiscal Service as part of the US Debit Card Program. The attached flyer said the card was my own personal “EIP” – my Economic Impact Payment Card – “containing the money you are receiving as a result of the coronavirus aid, relief, and economic security act (CARES Act). For one thing, most of the junk mailings involve credit cards, but this was a “debit” card, and “debit” in the name usually means there’s money sitting on the card. ![]() My first impulse was to throw it away, but something about it suggested that I should hang onto it and do some checking. On the back was the logo of something I did not recognize, the logo of “MetaBank” from the Money Network. I usually pitch ‘em, but this time I opened it and found inside a Visa debit card in my name and a 16-digit account number. It looked like one of the typical junk credit card offers that come in the mail with some frequency. A piece of mail addressed to me that arrived a couple of weeks ago bore a return address from something called the “Money Network Cardholder Services.”
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