Stimulus Check Bank Debt
About 4 million americans received debit.
Stimulus check bank debt. If your stimulus check is deposited into a banking account at an institution that you owe money the bank can keep funds to offset what you owe. It has to be private debt. What is the stimulus check debit card.
Bank of america citibank and u s. The coronavirus aid relief and economic security cares act does not expressly prevent private debt collectors like commercial banks from using stimulus payments to settle outstanding balances. A bank can t take a person s stimulus payment over just any kind of debt.
Formally called eip economic impact payment cards the debit cards are an alternative to receiving a paper check. If a person has debt with a.