Third Stimulus Check Update: A New Batch of $1,400 Payments Hits Bank Accounts Today
If you're one of the millions of Americans who haven't yet received a third stimulus check, your wait may be almost over. According to the IRS, the next set of payments is dropping Wednesday.
The government has been distributing $1,400-per-person Economic Impact Payments in batches ever since President Joe Biden signed the American Rescue Plan into law earlier this month. The first went out on March 12; it had an official payment date of March 17 and included some 90 million payments. This is the second batch.
The latest wave of payments started processing last week for consumers who use direct deposit. The formal pay date is March 24, though the IRS noted in a news release that some people may see provisional or pending stimulus funds in their accounts earlier. (Money didn't get an answer from the IRS on how many payments it's planning to issue in this, and future, batches.)
Assuming they're eligible, most people don't need to take any action in order to receive the third stimulus check. But the process might be slightly more involved than clicking the bank app on your iPhone while lying on the couch. You may have to — gasp — get up and fetch the mail.
"A large number of this latest batch of payments will also be mailed, so taxpayers who do not receive a direct deposit by March 24 should watch the mail carefully in the coming weeks for a paper check or a prepaid debit card," the release read.
You'll know the check is legit if it comes in a white envelope from the U.S. Department of the Treasury.
Stimulus check debit cards, called EIP Cards, will also arrive in a white envelope with a Treasury seal and a note in red that declares it "not a bill or an advertisement." The card itself will include Visa, MetaBank and Money Network insignia. Read more about how to use your EIP Card here.
When's the next batch of stimulus checks? From Wednesday on, the IRS says it will be distributing payments "on a weekly basis." As always, you can check the status of your third stimulus check and see when your payment is scheduled to arrive by using the Get My Payment tool.
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