Stimulus checks have been used for a considerable time in our country. In 2008, during the Great Recession, Stimulus checks played a very important role in boosting the economy; the Obama administration saw an advantage to use them as a tool to prevent unemployment rates from rising sharply.
Currently, we have other examples of this. As part of a federal stimulus package, the U.S government has decided to promote the Coronavirus Aid, Relief and Economic Security (CARES) Act and American Rescue Plan 2021.
Now, what do you have to do to receive your Stimulus checks on your Emerald Card? Keep reading to find out!
What are Stimulus checks?
We consider it appropriate to first review the basic concepts on this subject before knowing if you can receive the funds from a Stimulus check on your Emerald Card.
Stimulus checks are part of the economic measures dictated by the government of our country. When there is a decline in the nation’s economy, the government decides to send checks to citizens to stimulate or boost finances.
Taxpayers who meet eligibility requirements receive these checks via mail, direct deposit, or even as a tax credit equivalent to their tax return.
Once the taxpayers receive this money, they use it to purchase products from retailers, companies, or manufacturers, and consequently, there is a continuous flow in the economy. And this is precisely what the government aspires to when they issue Stimulus checks. Thus, these checks are money given to taxpayers for them to cover their daily expenses and in turn, contribute to the promotion or improvement of the market.
Understanding Emerald Cards
H&R Block Inc. is an American company dedicated to tax preparation services. Since 1955 they have offered assistance to taxpayers and their services include Emerald Cards.
An Emerald is a reloadable prepaid debit card that is mainly used to receive money from your tax refund by direct deposit. But it is not only used for tax purposes, you can deposit money in your card account by loading a check, transferring money from another linked account, or even through the recharge points located at participating retailers.
You can also use it to receive government funds such as unemployment benefits and other government benefits such as stimulus checks.
READ MORE: How to use a Visa gift card online
Get your Stimulus Checks on your Emerald Card
As we mentioned previously, there are several ways to receive funds from Stimulus checks, but if you have an Emerald Card, this may be the best and most comfortable option for depositing these funds.
For your Stimulus check to be deposited in your Emerald Card you must comply with a few simple steps:
As you may know, H&R Block, Inc is the provider of this type of prepaid debit card, that’s why for you to receive your funds from a Stimulus check you have to:
- Log into MyBlock and select the option for a Stimulus check.
- Or call 1-866-353-1266 and dial your Emerald Card account’s last four digits. If you don’t have an account, you can create one on the same page.
You can also check your deposit status through the MyBlock platform, but you can only see when the Stimulus check has been deposited.
Now, you may know that if in the previous tax season your refunds were deposited on your Emerald Card Account, the same should happen with your Stimulus check; it is supposed to be deposited on your same Emerald Card.
But, what if you have a new Emerald Card? Don’t alarm, if you’ve already received previous Stimulus checks or refunds on your account and you activated a new Emerald Card, you should receive and have access to those funds without any inconvenience.
Even if you have made changes to your bank, there should be no problem with receiving the funds. The only thing you should do is change your Emerald Card and once you receive the new card, you may activate it so you are prepared by the time your deposit comes in. If you have made this change and wish to purchase a new card, dial 1-866-353-1266 and ask for information.
H&R Block, Inc announced that they have waived the fees for receiving your funds from Stimulus checks through March 21st, 2021. The funds you receive may not be reduced for past-due federal taxes or child support. You may use this calculator to estimate how much you could receive on your Stimulus checks.