In response to the COVID-19 pandemic, the United States Government has distributed stimulus funds to residents to help ease the negative financial impact from lost economic activity. Most American taxpayers will receive their funds via direct deposit into the bank account listed on their most recent tax return, but some will receive their Economic Impact Payment (EIP) in the form of a prepaid VISA® debit card. CTFCU has compiled the following information to help our members use their EIP Cards with efficiency and security in mind:
- EIP cards will be mailed by the Money Network Cardholder Service. Please note that this is the only communication you will receive regarding this card. Any phone calls, texts, or emails in regards to your payment should be disregarded.
- It is recommended to activate the card as soon as it is received. Activation instructions will be available inside of the mailer or can be retrieved by calling 1-800-240-8100. The PIN number will also be set up during this call.
- After activating, the EIP Card can be used as a regular debit/credit card for purchases and bill pay. It can also be used to withdraw funds with no fees from any in-network ATM. Click here to find an in-network ATM near you. It is important to note that these cards have an ATM Withdrawal Limit of $1,000 per day.
- To transfer the funds from the EIP Card to your personal bank account, download the Money Network Mobile App. Follow the instructions to register and create your User ID and Password. While in the app, select “Move Money Out” to set up an ACH transfer in which you will need your full routing and account number. Transfers will post to the designated account in 1-2 business days.
ACH Transfer for Domestic Bank Limits Apply: $2,500 per transaction | $2,500 per day | $5,000 per month.
For more information regarding your EIP Card visit eipcard.com or call 1-800-240-8100.
Other resources to help you understand more about EIP: