If you’re one of the millions of Americans who still haven’t received your first stimulus check, there’s no need to worry. The first round of payments began going out in mid-April and took over two months to reach most Americans. In order to receive the payment, eligible Americans needed to be sure they had their direct deposit information on file with the IRS by May 13.
On June 1st, the IRS made more than 4 million first payments to Social Security beneficiaries, who did not need to take any action to receive the money. People living outside of the United States can also get an Economic Impact Payment (EIP) if certain conditions are met. In total, roughly 159 million payments have been made so far by either direct deposit or a paper check for a total value of about $267 billion.”
If you still haven’t received your first stimulus check, you may want to mark a date on your calendar.
Stimulus Check Coming Up
The first round of stimulus checks began going out in mid-April and it took over two months to reach most Americans. The second round of checks is expected sometime this summer, according to the U.S. Department of Treasury.
If you’re one of the more than 90 million Americans who will be receiving a stimulus check, it’s important to make sure your bank account information is up-to-date.
You can change this info on the IRS website at any time before the end of this month (the date when direct deposit information had to be entered). After that date, however, you won’t be able to change anything—not your address or phone number and certainly not your bank account information.
However, if you don’t want to receive money via direct deposit, there are other options available: You can have it sent by check or have it deposited into another account at a different financial institution.
If you are a Social Security beneficiary, there’s no need for you to do anything. The check will arrive automatically.
