Economic Impact Payment Stimulus Checks
The Internal Revenue Service and the Treasury Department began delivering a second round of Economic Impact Payments on December 29, 2020.
According to the IRS, the initial direct deposit payments may begin arriving as early as the 29th for some and will continue into next week. Paper checks will begin to be mailed on December 30.
"The IRS emphasizes that there is no action required by eligible individuals to receive this second payment. Some Americans may see the direct deposit payments as pending or as provisional payments in their accounts before the official payment date of January 4, 2021. The IRS reminds taxpayers that the payments are automatic, and they should not contact their financial institutions or the IRS with payment timing questions."
Wondering when your stimulus check will be deposited into your account? Here is some information you should know:
- BLC Community Bank receives deposits from the Federal Reserve once per day at 9 am. Please avoid repeated checking of online and mobile banking throughout the day as it can overwhelm the system and lead to downtimes (this goes for all banking institutions).
- Take advantage of BLC's SecureAlerts to be notified when the deposit is made into your account. To do this, login to Online Banking and click on Alerts. Select Alert Options > Transaction > ACH Deposit (credit) transaction and choose how you would like to be notified.
- Take a minute to also turn on Broadcast Alerts (under Other) so we can keep you posted about important holiday or weather related hours changes.
- You can also visit www.irs.gov/coronavirus/get-my-payment for information regarding the status of your stimulus payment.
* Information current as of December 31, 2020.