Walmart Offers Stimulus Check Deposits Onto a MoneyCard for Customers Lacking a Bank Account
As the U.S. economy reels in the grip of COVID-19 and stimulus payments from the government are on their way to citizens, Walmart (NYSE: WMT) said yesterday that it's helping its customers get direct deposits of the funds via MoneyCard. In a press release by CCO Janey Whiteside, the company announced a straightforward method by which people who lack bank checking accounts or who prefer to use Walmart's financial services can receive their stimulus money much sooner than waiting for a paper check.
The Coronavirus Aid, Relief and Economic Security, or CARES, Act will see many individuals in the USA receive $1,200 and couples get $2,400. Direct deposits to those with bank routing information on file with the IRS have already begun. However, those without bank accounts or who decline to give the tax bureau their bank information will receive checks in the mail instead, which will be mailed out in waves over the next five months.
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Source Fool.com
