Video aims to show consumers they can receive economic impact payments via debit card

A video intended to illustrate to consumers how they can receive coronavirus-related economic impact payments (EIPs) on a prepaid debit card, beginning this week, was released Tuesday by the Consumer Financial Protection Bureau (CFPB).

The agency, in a press release, said approximately 4 million eligible EIP recipients will receive a prepaid debit card in the mail. The agency noted that it issued an interpretive rule last month making it easier for pandemic-relief payments to be made on a prepaid debit card.

The EIP prepaid debit card is a Treasury-sponsored, Visa-branded, prepaid debit card from MetaBank, CFPB said.