The Internal Revenue Service and the Treasury Department have begun delivering the third round of Economic Impact Payments (Coronavirus Stimulus Payments) as part of the 2021 America Rescue Plan to millions of Americans.
The IRS will be issuing funds automatically to people who have bank account information on file with the agency. For detailed updates on the payment program visit https://www.irs.gov/coronavirus/economic-impact-payments
Stimulus Payment FAQs
Q: Do I qualify for the third economic impact stimulus payment?
A: You may be eligible to get a third Economic Impact Payment. In most cases, the IRS will automatically send you a payment. The Bank of Denver cannot determine if you are eligible for payment. Please visit https://www.irs.gov/coronavirus/economic-impact-payment-information-center for specific eligibility information.
Q: When will my payment arrive?
A: According to irs.gov, the impact payments will be distributed as early as March 13, 2021. We encourage customers to check their accounts via Digital Banking (Online or Mobile) or Telephone Banking (303-572-3434) to see if they have received their payment. Payments that show as “pending” will be available the next business day.
Q: Will I receive notice of my payment?
A: The Bank of Denver will not contact you regarding the deposit of your stimulus payment. We encourage you to check your account via Digital Banking (Online or Mobile) or Telephone Banking (303-572-3434). According to the IRS, after payment has been issued, the IRS will mail letters with information about the payment. Recipients should visit irs.gov for instructions on how to report any failure in receiving payment.
Q: How do I get my stimulus payment?
A: If you are eligible for a stimulus check, you will receive it by either direct deposit or paper check. The IRS will be issuing funds automatically to people who have bank account information on file with the agency.
Q: What is the best way to see if my stimulus check has been deposited into my account?
A: We encourage you to set up an Account Alert within Online Banking to help you keep track of your account balances. You can set an alert up by logging into Online Banking, then going to Options, then go to Configure Alerts for Your Account, then go Events. Under events, select the checkbox next to the email and/or login that is next to Receiving Incoming ACH Credits, then click Submit.
Q: Should I visit a branch or call for additional information?
A: Our employees in the branches and call centers will not have access to your individual status of whether you will receive a check, or where your payment is in the process.
Q: Did the Bank of Denver share my account number with the IRS?
A: No. The Bank of Denver did not provide your account information to the IRS. If eligible, the IRS uses the bank account reflected or reported on your 2020, 2019, or 2018 tax return.