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Here’s why your stimulus payment may still be pending

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If you’re included in this group, don’t worry – banks don’t engage in stimulus payments. It only takes a couple of days for the controls to be processed.

“Some people will see the money in their accounts as early as this weekend as a pending or interim payment until their financial institution authorizes them,” a Treasury official told reporters during a call Friday.

He stimulus payments, worth up to $ 1,400 per person (and more for married couples and those with children), were included in President Joe Biden’s magazine $ 1.9 trillion Covid-19 relief package which was signed on Wednesday.

“Customers who meet the requirements to receive a direct deposit of their stimulus payment can expect it as soon as March 17, 2021,” Wells Fargo posted on Twitter. And many Twitter users responded to the tweet, complaining about the timeline provided by the bank.

Wells Fargo replied On Saturday, in complaints from Twitter users, the bank “would process all direct deposits according to the effective date provided by the U.S. Treasury.” The tweet also highlighted that people can check the status of their payments through the Get the IRS My Payment tool.
Chase Bank has also tweeted, saying, “We’re making the funds available. Most eligible customers can expect to see incentive payments in their Chase account as soon as Wednesday, March 17.”

Some Americans have already seen how the latest round of stimulus payments has reached their bank accounts. On Saturday morning, several people had posted on social media about seeing their outstanding stimulus payments in their bank accounts. Although direct deposits have come out first, paper checks and prepaid debit cards will be mailed before the end of March.

The money is expected to reach 90% of households, according to an estimate from Penn Wharton’s budget model.

– Katie Lobosco and Veronica Stracqualursi of CNN contributed to this report.

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