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Prepaid cards as stimulus funds
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Posted on Aug 06 2021
The CNMI Department of Finance will soon disburse the long-awaited CNMI local stimulus but not the way previous stimulus funds were distributed in the past. This time, local taxpayers can expect to receive their stimulus funds through a prepaid card that will be issued by the department.
According to an announcement on the DOF website, each taxpayer will receive a prepaid card in the mail in place of the regular paper checks and bank deposits. These cards will be issued with instructions on how to activate these cards.
To ensure that the money is circulated within the CNMI economy and is not used elsewhere, these cards are geo-restricted so they can’t be used outside of the CNMI.
“We are excited about the CNMI local stimulus. We view this as a special opportunity to help our islands during these difficult times. This money is to be spent within the CNMI for the purpose of helping our local economy. Each taxpayer will receive a prepaid card in the mail. Instructions with how to activate the card will be included in the envelope. The prepaid card has geo-restrictions in place so it won’t be able to be used outside of the CNMI. ATM cash withdrawal won’t work either. You are welcome to use the card at any of the local business on island that accept Visa card payments,” the announcement states.
The DOF website does not state when these cards will be issued. However, DOF said in a previous statement that they will issue stimulus payments before Aug. 15.
The prepaid cards are similar to prepaid cards issued by the American Red Cross-NMI Chapter, which only allowed the purchase of necessary goods like food and clothing.
The funds in these prepaid cards cannot be withdrawn and are restricted to be spent at local businesses that accept Visa cards.
Eligible individuals include anyone who filed their 2020 tax returns in the CNMI and dependents listed on those tax returns.
Eligible individuals will receive $500 and $500 for each dependent.
For those who do not receive a prepaid debit card, did not receive the full amount, or lose their prepaid cards, they may email stimulus@dof.gov.mp and provide the personal information that appears on their 2020 tax filing.
