The IRS has already begun sending out $1,400 stimulus payments, and these banks will hold onto your payment until March 17.
Stimulus payments are rolling out to many Americans, but these banks are holding onto the $1,400 payments for a few more days.
The Wall Street Journal reported that millions of dollars in stimulus payments have already arrived in countless bank accounts by Friday of last week. However, the official payment date for the “Economic Impact Payment” is March 17.
The Internal Revenue Service has said that some “Americans may see the direct deposit payments as pending or as provisional payments in their accounts before the official payment date of March 17.”
However, some banks have already made the Economic Impact Payment available. An example of this is Chime, who took to Twitter to say that they have already made $600 million available to 250,000 of its members.
Other banks such as Chase and Wells Fargo have said that even if the stimulus payments arrive in its account, it won’t be making them available to its members until the official release date of the payment, March 17. To track the status of your stimulus payment, check out this tool here.