Banks May Withhold Stimulus Checks To Cover Overdraft Fees. Posted on January 3, 2021. Bank of America, Citigroup, JPMorgan Chase and Wells Fargo, Truist, PNC. (Reuters) - The top U.S. Retail banks said on Wednesday they would provide relief to customers who had overdrawn checking accounts, so that they could reap the full benefits of the federal. Wells Fargo, BofA and JPMorgan grant overdraft relief as stimulus checks roll in. (Reuters) - The top U.S. Retail banks said on Wednesday they would provide relief to customers who had overdrawn. The big takeaway, if you're expecting your stimulus money, open your mail to check for the prepaid debit card, the envelope will state it came from Money Network Card Services. You also need to be. With the first stimulus check, private banks and creditors were able to seize a payment to cover an outstanding debt. However, some states, such as California, issued orders forbidding banks and creditors from garnishing your stimulus check.

After days of will-he-or-won’t-he turmoil, President Trump signed the $900 billion COVID-19 relief bill Sunday evening. Now, $600 stimulus checks will begin to be deposited into Americans’ bank accounts on Tuesday night, and physical checks will be mailed Wednesday, according to Treasury Secretary Steve Mnuchin.

The president previously said—after the relief bill had been passed—that he would veto any bill that did not include a $2,000 check for individual Americans. The resulting delay threatened a lapse in unemployment benefits, while endangering nearly $1 trillion in aid; it also put the government at risk of shutting down, since the relief was tied to a measure to fund the government through September.

Secretary Mnuchin, House Minority Leader Kevin McCarthy and Sen. Lindsey Graham worked together to get the president to acquiesce and sign the bill, according to Axios. Eventually, they convinced him that he would be able to play the bill as a win.

Mnuchin said on Twitter Tuesday evening that the Treasury had delivered a payment file to the Federal Reserve, and that payments would begin to arrive in some accounts by direct deposit as early as tonight and would continue into next week. Paper checks will be mailed starting tomorrow, Mnuchin added.

“Treasury and the IRS are working with unprecedented speed to issue a second round of Economic Impact Payments to eligible Americans and their families,” said Mnuchin in a separate statement. “These payments are an integral part of our commitment to providing vital additional economic relief to the American people during this unprecedented time.”

Individuals will receive an Economic Impact Payment of up to $600, or $1200 for married couples, and up to $600 for qualifying children. The payments will be sent automatically, and status updates will be available online.

The announcement comes as the Senate begins considering a separate measure to increase stimulus checks to $2,000. Trump and other GOP leaders have demanded that the Senate combine the increased-payment provision with legislation that would repeal Section 230 of the 1996 Communications Decency Act, which protects tech companies from being held liable for what users post on their platforms.

“The Senate will start the process for a vote that increases checks to $2,000, repeals Section 230, and starts an investigation into voter fraud,” the president said in an official statement Sunday.

More politics coverage from Fortune:

• Why a key Georgia county flipped from red to blue—and what it means for Democrats
• Pfizer, Trump, and Biden: A twisted triangle that’s complicating COVID-19 relief
• Biden’s first 100 days: Student loan debt won’t go anywhere
• Congress COVID-19 relief bill includes $15 billion for Broadway, small music venues, movie theaters
• PPP borrowers get the tax break the IRS tried to cancel

This story was originally featured on Fortune.com

Qualifying Americans began to see a $600 stimulus check deposit in their bank accounts last week. But some haven't gotten theirs yet.

The window for qualifying Americans to start receiving payment opened Dec. 29, according to the U.S. Department of the Treasury. These funds will continue to come in via direct deposit or mail. Paper checks started to be mailed out Dec. 30.

However, as the IRS continues to process the $600 stimulus checks, some Americans have reported issues regarding their stimulus checks, including funds being deposited into the wrong bank account or not being deposited at all.

“Treasury and the IRS are working with unprecedented speed to issue a second round of Economic Impact Payments to eligible Americans and their families,” U.S. Secretary of the Treasury Steven Mnuchin said. “These payments are an integral part of our commitment to providing vital additional economic relief to the American people during this unprecedented time.”

Bank Of America Stimulus Check R

A push for an increased payment of $2,000 made it through the House, but its future the Senate is unclear after Senate Majority Leader Mitch McConnell blocked Senate Minority Leader Chuck Schumer's unanimous consent request on the afternoon of Dec. 29. Therefore, the payment amount will remain at $600 as laid out in the COVID-19 relief bill President Donald Trump signed into law Sunday, or until further legislation is passed.

Stimulus and election fights: Mitch McConnell shows he's the last adult in D.C.

Should the amount be increased, the difference will be deposited 'as quickly as possible,' according to the U.S. Department of the Treasury.

Here's how to make sure you get your $600 stimulus check via direct deposit or direct mail. Additionally, here are some tips on what to do if you haven't gotten your payment yet.

Check your IRS Get My Payment portal

The IRS Get My Payment portal is up and running for Americans to check the status of their stimulus checks.

Once you are logged in and your bank account information is added to your account, Get My Payment will provide you with a payment date, which is the date payment will be expected in your account.

The portal will show three options in regards to getting your stimulus check deposit:

• Payment status: This means your payment has been processed, a payment date is available and you're set to get your deposit via direct deposit or mail.
• Need more information: This means you're eligible, but there's information missing from your account like your bank's routing or account number. It could also mean your payment was returned as undeliverable.
• Payment status not available: This means the IRS could not determine your eligibility for payment.

When Can I Expect My Stimulus Check

Do you qualify?: Here’s who doesn't get the $600 stimulus check

For more information about the Get My Payment portal, visit the IRS website for updates.

How banks are processing stimulus check payments

Major U.S. banks like Chase, Wells Fargo and Bank of America recommend their customers to set up direct deposit alerts on their accounts to be notified when payment goes through.

Banks said to keep an eye out for payment with a description that will include the word 'IRS.' Wells Fargo said the description will be 'IRS TREAS 310 XXTAXEIP2,' or something similar.

Payments will be distributed automatically, according to the U.S. Department of the Treasury. There is no action required for those eligible.

Banks do not have the ability to determine whether you qualify for a stimulus check or not. They also do not have access to information about tracking your payment.

What happens if your stimulus check was sent to the wrong account

The IRS does not allow people to change direct deposit information that's already on file. If a direct deposit is made with invalid bank information or the account was closed, the bank will reject the deposit and the IRS will mail payment as soon as possible. These changes will be reflected on the Get My Payment portal.

For those without direct deposit information on file, payment will arrive in the form of a check or debit card in the mail, according to the IRS.

Comparing stimulus bills: New COVID-19 stimulus bill is half of March's. How else it differs.

Looking for IRS phone number to ask about your stimulus check?

The IRS says not to call them with issues about incoming stimulus check payments.

'A new round of Economic Impact Payment is already on its way,' the IRS tweeted Monday. 'There's no need for taxpayers to call or take any action.'

Taxpayers' best bet is to monitor the IRS Get My Payment portal for updates.

The IRS said: 'IRS phone assisters do not have additional information beyond what’s available on IRS.gov.'

Bank Of America Stimulus Checks Deposit

Haven't received your stimulus yet?: The IRS says not to call them

#IRS is delivering a second round of Economic Impact Payments to millions of Americans. There’s no need for taxpayers to take any action, call the IRS or their financial institution. See https://t.co/VY0F1xzGPl#COVIDreliefIRSpic.twitter.com/ZE3TWzL52H

Eligible but didn't receive payment?

If you are eligible but haven't received your $600 stimulus check payment, it can be claimed as the Recovery Rebate Credit by filing a 2020 tax return in 2021.

'The IRS urges taxpayers who didn’t receive a payment this year to review the eligibility criteria when they file their 2020 taxes; many people, including recent college graduates, may be eligible to claim it,' according to the IRS website.

Don't spend it yet: Here's what to consider before you get your $600 check

Will you get a direct deposit or mailed check?

If you haven't gotten your direct deposit yet, keep an eye out for incoming mail. It could be delivered as a paper check or a debit card.

The Treasury Department's Bureau of Fiscal Service will be sending a limited number of payments by debit card to 'speed delivery of the payments to reach as many people as soon as possible.'

The IRS said the second form of stimulus check payment might be different than the first. For example, it's possible for those who received a check in the mail to get a debit card this time, and vice versa.

The debit card will be sent in a white envelope that displays the U.S. Department of the Treasury seal. It will be a Visa card with the issuing bank listed as MetaBank.

Daniella Medina is a digital producer for the USA TODAY Network. Follow her on Twitter @danimedinanews.

This article originally appeared on Montgomery Advertiser: How to track your $600 stimulus check deposit and what to do if you didn't get one yet