March 12, 2021

Third Round of Economic Impact Payments Expected March 17

The federal government is expected to send a third round of economic impact payments to more than 100 million eligible Americans in the coming weeks. The banking industry is working closely with the Treasury Department to help eligible Americans receive those payments quickly, securely, and safely during this challenging time.

Recipients don’t need to take any action to receive their economic impact payment. According to the government, the IRS will calculate and automatically send economic impact payments via direct deposit, paper check, or prepaid card. The IRS already has direct deposit information for millions of Americans from the first and second round of EIPs.

You may see your direct deposit payment as pending or as a provisional payment in your account prior to the scheduled payment date of March 17, 2021.

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