Bank Of America Stimulus Checks

With the second stimulus check, your payment is protected from bank garnishment and from private creditors and debt collectors, according to the text of the law. However, there’s one major caveat here: Individual banks can decide whether they want to use your stimulus direct deposit to cover overdraft fees, according to a New York Times report. A new wave of stimulus payments is hitting people’s mailboxes. But they’re NOT coming in the form of checks. Instead, millions of Americans are now receiving pre-paid debit cards.

1. When Can I Expect My Stimulus Check
2. Bank Of America Stimulus Checks Late
3. Bank Of America Stimulus Check R
4. Bank Of America Stimulus Check December

Qualifying Americans began to see a $600 stimulus check deposit in their bank accounts last week. But some haven't gotten theirs yet.

The window for qualifying Americans to start receiving payment opened Dec. 29, according to the U.S. Department of the Treasury. These funds will continue to come in via direct deposit or mail. Paper checks started to be mailed out Dec. 30.

However, as the IRS continues to process the $600 stimulus checks, some Americans have reported issues regarding their stimulus checks, including funds being deposited into the wrong bank account or not being deposited at all.

“Treasury and the IRS are working with unprecedented speed to issue a second round of Economic Impact Payments to eligible Americans and their families,” U.S. Secretary of the Treasury Steven Mnuchin said. “These payments are an integral part of our commitment to providing vital additional economic relief to the American people during this unprecedented time.”

A push for an increased payment of $2,000 made it through the House, but its future the Senate is unclear after Senate Majority Leader Mitch McConnell blocked Senate Minority Leader Chuck Schumer's unanimous consent request on the afternoon of Dec. 29. Therefore, the payment amount will remain at $600 as laid out in the COVID-19 relief bill President Donald Trump signed into law Sunday, or until further legislation is passed.

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Should the amount be increased, the difference will be deposited 'as quickly as possible,' according to the U.S. Department of the Treasury.

Here's how to make sure you get your $600 stimulus check via direct deposit or direct mail. Additionally, here are some tips on what to do if you haven't gotten your payment yet.

Check your IRS Get My Payment portal

The IRS Get My Payment portal is up and running for Americans to check the status of their stimulus checks.

Once you are logged in and your bank account information is added to your account, Get My Payment will provide you with a payment date, which is the date payment will be expected in your account.

The portal will show three options in regards to getting your stimulus check deposit:

• Payment status: This means your payment has been processed, a payment date is available and you're set to get your deposit via direct deposit or mail.
• Need more information: This means you're eligible, but there's information missing from your account like your bank's routing or account number. It could also mean your payment was returned as undeliverable.
• Payment status not available: This means the IRS could not determine your eligibility for payment.

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For more information about the Get My Payment portal, visit the IRS website for updates.

How banks are processing stimulus check payments

Major U.S. banks like Chase, Wells Fargo and Bank of America recommend their customers to set up direct deposit alerts on their accounts to be notified when payment goes through.

Banks said to keep an eye out for payment with a description that will include the word 'IRS.' Wells Fargo said the description will be 'IRS TREAS 310 XXTAXEIP2,' or something similar.

Payments will be distributed automatically, according to the U.S. Department of the Treasury. There is no action required for those eligible.

Banks do not have the ability to determine whether you qualify for a stimulus check or not. They also do not have access to information about tracking your payment.

What happens if your stimulus check was sent to the wrong account

The IRS does not allow people to change direct deposit information that's already on file. If a direct deposit is made with invalid bank information or the account was closed, the bank will reject the deposit and the IRS will mail payment as soon as possible. These changes will be reflected on the Get My Payment portal.

When Can I Expect My Stimulus Check

For those without direct deposit information on file, payment will arrive in the form of a check or debit card in the mail, according to the IRS.

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Looking for IRS phone number to ask about your stimulus check?

The IRS says not to call them with issues about incoming stimulus check payments.

'A new round of Economic Impact Payment is already on its way,' the IRS tweeted Monday. 'There's no need for taxpayers to call or take any action.'

Taxpayers' best bet is to monitor the IRS Get My Payment portal for updates.

The IRS said: 'IRS phone assisters do not have additional information beyond what’s available on IRS.gov.'

Haven't received your stimulus yet?: The IRS says not to call them

#IRS is delivering a second round of Economic Impact Payments to millions of Americans. There’s no need for taxpayers to take any action, call the IRS or their financial institution. See https://t.co/VY0F1xzGPl#COVIDreliefIRSpic.twitter.com/ZE3TWzL52H

Eligible but didn't receive payment?

If you are eligible but haven't received your $600 stimulus check payment, it can be claimed as the Recovery Rebate Credit by filing a 2020 tax return in 2021.

'The IRS urges taxpayers who didn’t receive a payment this year to review the eligibility criteria when they file their 2020 taxes; many people, including recent college graduates, may be eligible to claim it,' according to the IRS website.

Bank Of America Stimulus Checks Late

Don't spend it yet: Here's what to consider before you get your $600 check

Will you get a direct deposit or mailed check?

If you haven't gotten your direct deposit yet, keep an eye out for incoming mail. It could be delivered as a paper check or a debit card.

The Treasury Department's Bureau of Fiscal Service will be sending a limited number of payments by debit card to 'speed delivery of the payments to reach as many people as soon as possible.'

The IRS said the second form of stimulus check payment might be different than the first. For example, it's possible for those who received a check in the mail to get a debit card this time, and vice versa.

Bank Of America Stimulus Check R

The debit card will be sent in a white envelope that displays the U.S. Department of the Treasury seal. It will be a Visa card with the issuing bank listed as MetaBank.

Daniella Medina is a digital producer for the USA TODAY Network. Follow her on Twitter @danimedinanews.

Bank Of America Stimulus Check December

This article originally appeared on Montgomery Advertiser: How to track your $600 stimulus check deposit and what to do if you didn't get one yet