Home Local News IOWA LOTTERY PLANS TO UPGRADE HOW WINNERS ARE PAID

IOWA LOTTERY PLANS TO UPGRADE HOW WINNERS ARE PAID

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THE IOWA LOTTERY PLANS TO MOVE TO SOME MORE MODERN METHODS OF PAYMENT FOR PRIZES IN THE NEW YEAR.

SPOKESPERSON, MARY NEUBAUER, SAYS PAPER CHECKS HAD BEEN THE STANDARD.

PAY3 OC……..:ONCE WAS” ;14

NEUBAUER SAYS CASH PAYMENTS WON’T GO AWAY, BUT THEY DO PLAN TO START USING PREPAID DEBIT CARDS THAT ALLOW RETAILERS OR LOTTERY OFFICES TO LOAD THE PRIZE MONEY ONTO THE CARD.

PAY4 OC……….YOUR PRIZE” :14

NEUBAUER SAYS RETAILERS COULD PAY PRIZES UP TO 600 DOLLARS ON THE CARDS — WHILE LOTTERY OFFICES COULD USE THE PREPAID DEBIT CARDS FOR PRIZES UP TO FIVE-THOUSAND DOLLARS.

THEY HOPE TO START A PILOT PROJECT WITH THE DEBIT CARDS IN SIX MONTHS.

THE OTHER CHANGE WOULD ALLOW PRIZES THAT HAVE TO BE REDEEMED AT IOWA LOTTERY OFFICES TO BE MADE THROUGH WHAT’S CALLED AN A-C-H PAYMENT THAT GOES DIRECTLY INTO A PERSON’S BANK ACCOUNT.

PAY5 OC………FISCAL YEAR 2023″ :22

THE A-C-H PRIZE PAYMENTS COULD GO UP TO FIVE MILLION DOLLARS.

NEUBAUER SAYS THE LARGE JACKPOTS FROM LOTTO GAMES WOULD STILL BE PAID OUT BY WIRE TRANSFER, AS THAT IS THE SAFEST METHOD.