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Understanding the Second Round of Stimulus Checks

The IRS and US Treasury have begun sending out the second round of stimulus checks to those who qualify — first through direct deposit, followed by paper checks and EIP cards. Here’s when to start looking for a second stimulus check, and what you can do to check on the status of your payment.

Direct deposit payments began arriving December 29

Yesterday the IRS said that the initial direct deposit payments may begin arriving as early as December 29 for some and will continue into next week. Those who have direct deposit set up with the IRS can start looking for their second stimulus payments. Eligible individuals do not need to take any action to receive this second payment, and the IRS will use the direct deposit information it has on file to make the payment. The IRS cautioned that some “may see the direct deposit payments as pending or as provisional payments in their accounts before the official payment date of January 4, 2021.

Stimulus checks in the mail starting December 30

For those without current direct deposit information on file with the government, the IRS will send the payment as a check or EIP debit card in the mail. People who will receive their second stimulus check in the mail — either as a paper check or a prepaid debit card — should look for a payment in the first three weeks of January.

If you receive a paper stimulus check, there are a few ways to securely deposit your check:

  • Though our branches are currently by appointment only, all five of our neighborhood Salal branches have outdoor deposit-taking ATMs. Learn how to do a simple check deposit transaction in this video. To find a surcharge-free ATM closest to you, visit our Locations & Hours page.
  • For the convenience of depositing a check anytime and anywhere, you can use our check deposit feature in our Mobile Banking app. Make sure to endorse the check with “for mobile deposit only at Salal Credit Union”. Learn how to deposit your check via your smartphone in this easy to follow tutorial.

How to check the status of your stimulus payment

The IRS said it is updating its Get My Payment tool for the second round of payments and anticipates those receiving checks will be able to check the status of both the first and second payments in a few days.

Why is January 15, 2021, an important date to know?

January 15 is the cutoff date by which time the IRS and US Treasury must stop sending checks as part of this round of delivery. If you don’t receive your full second stimulus check money by January 15, you will need to claim all or part of the missing amount when you file your federal tax returns in 2021 through the Recovery Rebate Credit. You’ll also be able to claim any money the IRS still owes you from the first round of payments.

Beware of scams

The federal government will not ask to confirm your personal or banking details by email, phone or text message, or demand a “processing fee” to obtain or expedite your stimulus payment. Do not click on links in email or text messages relating to the stimulus checks and do not provide your personal information.