The first round of stimulus checks are being mailed to bank accounts, and many people have questions about how these payments will work. Here’s everything you need to know about the stimulus checks, including when it’ll arrive in your account and how much you can expect to receive.
Some people will get more than others, depending on how much they made in 2018 and where they live. Payouts will range from $100 to $2,000 per person or dependent child—a total of $63 billion going out over three months starting this month (November).
Stimulus Check Finances Are Being Sent
- How long does it take to receive a check once it’s been processed?
It depends on how much money you’re owed, but most people should receive their funds within three weeks of receiving notification that they were approved as eligible for a payout.
- How do I track my status or find out if I’ve been paid yet?
If you applied online using [the Federal Reserve’s website](https://www.payments-flowchart.com), then your status should be shown in real-time on their site (though please note that there may be delays). If you applied through another method like snail mail or over the phone, try calling 1-866-729-1015 with any questions about your application status.* What should I do if my stimulus payment hasn’t arrived yet?
Although many Americans are expected to receive their first round by mid-to-late November, not everyone will get theirs until later in December—or even into January 2023—due to issues with processing times at the IRS and other factors such as mailing addresses changing during tax season (which means sending those checks via snail mail instead).
The stimulus checks aren’t a huge windfall of cash, but they’re not insignificant either. They’re another tool to help you get out of debt or invest in your retirement. With the right planning and budgeting, you can make sure these checks don’t go to waste!
