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Posted on by Dale Roe

Here’s new information on Federal stimulus payments

Here’s new information on Federal stimulus payments

Looking for the status of your stimulus payment? Check the IRS Get My Payment site.

 

As you might have heard, the Federal government recently authorized the IRS to release additional stimulus payments to Americans. As in earlier rounds, the funds are expected to be distributed in waves.

Velocity does not know:

  • exactly who will qualify for the payments
  • when individual members will receive payment
  • or through what method an individual’s funds will arrive

Funds could arrive via electronic direct deposit, paper check, or another method. We will apply all electronic funds as usual as we receive payment files from the IRS (Mon.-Fri. mornings).

We will not call or email you to alert you of any stimulus payment deposits to your Velocity accounts. Please check your balances via online banking or through the Velocity Mobile App to verify that your funds were received.

If you do not see a deposit or receive payment via another method in the coming days/weeks, please visit the IRS website for answers to your questions. Some good information about the upcoming payments can be found here.

Finally, during times of uncertainty – and the pandemic certainly qualifies – scammers will try to take advantage. Please be wary of any unofficial and unsolicited contact regarding your upcoming payments and fraudulent attempts to help you increase the amount or borrow against the funds. Velocity has information about protecting yourself from financial fraudsters here.