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If you get a Coronavirus Stimulus check, we suggest having your money deposited into a Chime Bank Account so you don’t get hit with fees that you would get with other prepaid cards.
Chime is a new Visa card that is amazingly free (unless you use the card outside of their large ATM network). This is best alternative to a prepaid card that we’ve seen in 5+ years and offers all of the benefits of traditional bank account.
It’s a real Visa card (not a prepaid debit card which usually have a lot more fees) and people with poor credit can apply too as there is no credit check. Chime can be managed entirely from your smartphone. No overdraft fees. No minimum balance. No monthly service fees. No transfer fees. No Chex Systems. Over 38,000 fee-free ATMs, plus 30,000+ cash-back locations.
And for a limited time, earn a Cash referral bonus of $50 when you tell your friends and family members about Chime and they sign up (and they’ll earn $50 too)- details within the app after you apply! Click for more info.- you can apply online in just 2 mins with no obligation. Start by simply entering your email address and clicking “Get Started”– over 3 million customers couldn’t be wrong. 🙂 (Referral Link)
How Will I Know When to Expect My Coronavirus Money?
This will vary. The first round of stimulus money will be received by those who have given the IRS their bank account information for direct deposit of their tax returns in 2018 & 2019.
The first paper checks are expected to go out to those who have the lowest incomes, possibly those who make less than $10,000 a year, but who do not have direct deposit information on file with the IRS.
As early as Wednesday April 15th the IRS plans to have an online tool to be able to check the status of your payment, including the dates it is set to be deposited or mailed. You can go to: IRS.gov/eip
We hope this article has helped you in answering: How Will I Know When to Expect My Coronavirus Money?