Some Americans have already received the third stimulus payment, according to the mobile banking service Current.
The first deposits occur just a day after President Joe Biden signs the American Rescue Plan Act (ARP). The account includes a provision for a third stimulus check in the amount of up to $ 1,400 per qualified individual and each of their dependents.
A spokesman for Current told CNBC Make It that the bank started receiving the third round of payments just before noon on Friday. The bank began crediting payments to customers’ accounts immediately, making the funds fully available, they said, and estimating that they have already credited about 25% of Current’s eligible account holders.
The average payout for members is about $ 2,000, they said, although at least one member has received more than $ 9,000.
Jacob Schwartz, 22, works at Current and received his payment on Friday. He says he will use it to pay rent, food and other bills.
“Money is very tight now,” says Schwartz, who lives in Pennsylvania. “I am responsible for paying most of the bills and half the rent, while my roommate uses it [stimulus payment] to get a car to look for more jobs. “
The Biden White House said on Thursday that the funds would be available as early as this weekend. Current’s spokesman said the bank did not wait for the funds to be settled before making them available to customers.
For those who are awaiting payment, the IRS will soon have a tracking tool available on its website, as it did for the first and second payments.
To see how much you can qualify, use this calculator from the Grow personal finance website: