WASHINGTON—The Treasury Department plans to get some people their coronavirus relief payments by sending them prepaid debit cards in an effort to get those payments out faster, Treasury Secretary Steven Mnuchin said.
During a White House press briefing, Mnuchin said Treasury is "going to be supplementing our capability and sending prepaid debit cards so we can get money out quickly to people."
The Hill noted Mnuchin's comments come as the IRS has started to issue the one-time direct payments created under legislation President Trump signed late last month. Most Americans are entitled to receive payments of up to $1,200 per adult and $500 per child.
Reaching the Underbanked
Treasury has said payments have already been sent to more than 80-million Americans via direct deposit and that paper checks started to be issued this week.
"We're very pleased. The direct deposits have gone out. We've started sending out the checks," Mnuchin said.
The Hill noted earlier this month that Mnuchin indicated prepaid debit cards could help get the payments to people who are underbanked. A Republican Senate Finance Committee aide also told reporters last month that the IRS was looking to see if it could get the payments to people through prepaid debit cards, The Hill added.