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If you use one of these banks, your stimulus check may be delayed
After the last stimulus project was approved last week, Americans across the country were eager to receive the third round of stimulus checks, worth a $ 1,400 base standard. But while some people started receiving their direct deposit payments this weekend, others were waiting. Now, several banks are saying that it is not their fault. Some widely used banks recently announced that their customers will not have access to the new round of stimulus payments until March 17, claiming that this is beyond their control and, in fact, the result of the official IRS payment date is not until then. . Read on to find out which banks can delay your stimulus check and, for anyone waiting for payment, your stimulus check may never arrive if you don’t, says the IRS. 1 Chase Chase updated its website on March 12 to inform customers that they “expect” stimulus payments to be available to most Chase customers as early as March 17. “When we receive the money from the IRS on Wednesday, we will immediately deposit it into our clients’ accounts,” Amy Bonitatibus, director of communications for Chase, told Insider. And for more reasons that your payment may be delayed. If you did this the previous year, your stimulus check may have been postponed. 2 Wells Fargo Wells Fargo announced in a tweet on March 12 that customers eligible to receive a direct deposit from the stimulus check “can expect it as early as March 17, 2021.” The bank also told CBS MoneyWatch that it would waive any overdraft fees that occur as a result of waiting to clear those funds. “Our goal is to support our customers and we will proactively revert Wells Fargo’s outstanding fees, including overdraft fees, to those who have a qualified negative final daily balance when their stimulus payment is deposited,” said Wells Fargo in a statement by e -mail. And for more stimulus news, if you haven’t received your stimulus payment yet, you need to check that out. 3 Bank of America Bank of America has yet to issue a statement saying specifically that it is maintaining stimulus payments until March 17, but many Twitter users who do bank transactions with the company have expressed their frustration at the delay in stimulus checks. Some users reported that they spoke with Bank of America customer service representatives, who said that payments will not be available until March 17. The Bank of America website also says that “all direct deposit payments are posted to open accounts on the effective date set by the Treasury”, which for this round of stimulus payments is March 17. And for the most up-to-date information, sign up for our daily newsletter. 4 There may be other reasons why your stimulus check is delayed. If it’s not your bank delaying your stimulus check, it could be something else. For example, the IRS says the bank can reject your deposit, which can happen if your bank information is incorrect or your bank account has been closed. And if you changed last year and did not update the IRS with your new address, the post office will return your payment to the IRS. To remedy any of these situations, you will need to check the IRS “Get My Payment” tool, which will tell you where your payment is. If you see a notice that says “More information needed”, your payment is delayed because it was returned to the IRS and you will need to provide the agency with new information to receive your check. And for more financial guidance, if you are waiting for a stimulus check, read this before declaring your taxes.