Here's When You Can Expect Your $1,400 Stimulus Check

Illustration for article titled Here's When You Can Expect Your $1,400 Stimulus Check
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If stimulus checks have already been issued, where’s yours?

The IRS announced Friday that as part of the American Rescue Plan Act, the first round of $1,400 stimulus checks would make their way to eligible taxpayer bank accounts through direct deposit, noting that “some recipients will start receiving as early as this weekend, and with more receiving this coming week.” Current, for example, made stimulus checks immediately available, noting at the time that its customers “can again expect to receive their payments five days faster than with a traditional bank.”


For customers of Chase Bank, they can expect their checks to arrive March 17, which might have been frustrating for people or families who desperately needed their payments as quickly as possible, particularly since others were getting theirs immediately. But to be clear, the IRS stated last week that some folks “may see the direct deposit payments as pending or as provisional payments in their accounts before the official payment date of March 17.”

“The IRS sent the information about the stimulus payments Friday (March 12), but won’t be sending the money until tomorrow,” a spokesperson for Chase Bank told Gizmodo in a statement by email. “When we receive the money from the IRS on Wednesday, we’ll immediately deposit it in our customers’ accounts.”

Tens of millions of stimulus checks will be distributed March 17, according to Nacha. Nacha oversees the ACH Network, a payment network for transactions like direct deposit.

“This is the date on which the IRS will provide the funds to the banks and credit unions to further make available to recipients,” the organization said in a statement on Monday. “The Nacha Rules require the banks and credit unions to make the funds available to the account holders by 9:00 a.m. local time on the settlement date; again, in this case, March 17.”

As for why Current customers were able to get their checks early, a spokesperson for the company told Gizmodo that for one, it uses its own proprietary banking tech, “which puts us closer to the money than other fintechs.” But it also used its own balance sheet to make the funds immediately available.

“We received the ACH files on Friday, which notify us of the payments coming for each of our members, and we used our balance sheet to credit all member accounts for those amounts until the funds actually arrive, which is what we have now done for each round of stimulus,” the spokesperson said. “It is the same process of what we do on a day-to-day basis of crediting paychecks for our members up to two days faster as part of our commitment to getting money back in our members’ pockets as quickly as possible. We credit the money before the funds settle, which is how we get them to our members early.”


Like Chase, Wells Fargo too confirmed that it would make the funds available as soon as it receives them.

“We know the importance of the stimulus funds to our customers, and Wells Fargo is making the stimulus funds available immediately when they are made available to us,” a spokesperson for the company told Gizmodo in a statement by email. The spokesperson pointed customers to the IRS’s economic impact page for additional information about their payments.



Short answer - never.  Didn’t get any of the last two either.