As the Coronavirus takes a growing toll on people’s pocketbooks, there are reports that the government will soon be sending money by check or direct deposit to each of us. The details are still being worked out, but there are a few really important things to know, no matter what this looks like.
1. The government will not ask you to pay anything up front to get this money. No fees. No charges. No nothing.
2. The government will not call to ask for your Social Security number, bank account, or credit card number. Anyone who does is a scammer.
3. These reports of checks aren’t yet a reality. Anyone who tells you they can get you the money now is a scammer.
Look, normally we’d wait to know what the payment plan looks like before we put out a message like this. But these aren’t normal times. And we predict that the scammers are gearing up to take advantage of this.
So, remember: no matter what this payment winds up being, only scammers will ask you to pay to get it. If you spot one of these scams, please tell the Federal Trade Commission: www.ftc.gov/complaint. We’re doing our best to stop these scammers in their tracks, and your report will help.
Keep up to date with the latest Coronavirus-related scams at www.ftc.gov/coronavirus or by signing up to get these consumer alerts.
Watch these videos for more tips on how to avoid ecomonic impact payment scams:
Updated link added on April 21, 2020.
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The purpose of this blog and its comments section is to inform readers about Federal Trade Commission activity, and share information to help them avoid, report, and recover from fraud, scams, and bad business practices. Your thoughts, ideas, and concerns are welcome, and we encourage comments. But keep in mind, this is a moderated blog. We review all comments before they are posted, and we won’t post comments that don’t comply with our commenting policy. We expect commenters to treat each other and the blog writers with respect.
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In reply to I agree! The personal touch by DonSeptember
In reply to I agree! The personal touch by DonSeptember
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On April 15, the Social Security Administration updated its website to say that people who get Social Security retirement, survivors, or disability beneficiaries and Supplemental Security Income (SSI) recipients, and who do not have qualifying children under age 17 do not need to take any action with the IRS. You will automatically receive your $1,200 economic impact payment directly from the IRS. You should receive the automatic payments by direct deposit, Direct Express debit card, or by paper check, just as you would normally receive your Social Security benefits.
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As of today, there are no confirmed details about any stimulus money. Watch for updates from trusted news sources to find the latest.
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Pagination