Treasury plans to use prepaid debit cards for coronavirus relief payments

The Treasury Department plans to get some people their coronavirus relief payments by sending them prepaid debit cards in an effort to get people their payments faster, Treasury Secretary Steven MnuchinSteven MnuchinThe Hill's Morning Report - Presented by Goldman Sachs - Biden rallies Senate Dems behind mammoth spending plan Mnuchin dodges CNBC questions on whether Trump lying over election Democrats justified in filibustering GOP, says Schumer MORE said Tuesday.

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."

Mnuchin's comments come as the IRS has started to issue the one-time direct payments created under legislation President TrumpDonald TrumpBiden administration to keep Trump-era rule of turning away migrants during pandemic On The Money: Biden, Pelosi struggle with end of eviction ban | Trump attorney says he will fight release of tax returns Lack of transatlantic cooperation on trade threatens global climate change goals MORE signed late last month. Most Americans are entitled to receive payments of up to $1,200 per adult and $500 per child.


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.

Earlier this month, Mnuchin indicated that 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.