Many Americans are expecting to receive a third stimulus check as part of a $1.9 trillion COVID-19 relief package in 2021. Some details may change before the bill actually passes, such as who qualifies, how large are the payments, and when will stimulus checks arrive. However, as soon as the bill passes the payment process will begin right away.
Let’s review some helpful tips and information you can use to monitor the arrival of your stimulus payment. We’ll also address a common account question you may have.
Where is my stimulus check?
To learn the status of your stimulus payment, you can visit the Get My Payment portal at IRS.gov to:
- Learn about eligibility to receive a payment.
- Learn the status of your stimulus payment.
- Find out if the payment will be made via direct deposit to your bank account or by check via the postal mail. If the payment will be made via direct deposit, the IRS website will list the last four numbers of the bank account that will receive the deposit.
- Learn what to do if you did not receive an Economic Impact Payment for which you qualified.
When will the next wave of stimulus checks arrive in my account?
As always, you can use Online Banking or the Academy Bank mobile app to monitor your account balance and transactions as often as you need to. We recommend setting up a transaction alert so you can be notified by text message* or email that your direct deposit has arrived.
How will we ensure that you get full access to your stimulus payment when it arrives?
We understand that these are unusual times and that many families are struggling. In preparation for the next stimulus payment, we want to be sure that our clients have access to the full amount of their stimulus payment regardless of their account balance. For instance, if you have a negative balance at the time the stimulus payment is deposited, we may apply a temporary credit to cover the negative balance so that you may have full access to your stimulus payment. As an example:
Account balance before stimulus payment: -$150
Stimulus payment deposit: +$600
Temporary credit applied by Academy Bank to cover overdraft: +$150
Account balance after stimulus payment and temporary credit: +$600
Sign up for alerts today
By following the steps referenced above, you’ll have what you need to monitor the status of your payment.
Take a few moments to set up alerts today. It’s the best way to be notified as soon as your funds have arrived.
* Wireless carrier fees may apply.