Answers to Your COVID-19 Stimulus Check Questions


As part of the third coronavirus stimulus recently passed by Congress, you may receive an Economic Impact Payment (also known as a stimulus check) in the coming weeks.

While the Treasury Department and the Internal Revenue Service began distributing Economic Impact Payments to eligible individuals and households as early as March 13, PlainsCapital Bank does not have specific information as to when your payment may arrive.

For answers to your COVID-19 stimulus check questions, including where to go to find out if you qualify, read the Frequently Asked Questions below.

Who’s eligible for a third Economic Impact Payment?

Visit the Economic Impact Payments page at IRS.gov for information about eligibility.

When and how will I get my stimulus payment?

Direct deposit payments are being made by the IRS first, with paper checks and prepaid cards to follow. Estimated dates for delivery aren’t yet available, but since the IRS is already busy processing 2020 tax returns, a somewhat slower rollout than with the second stimulus check is possible.

If you’ve supplied direct deposit information to the IRS, your Economic Impact Payment will be deposited directly into your bank account on file with the IRS. If you haven’t supplied direct deposit info to the IRS, a paper stimulus check or prepaid EIP card will be mailed to you.

How can I check the status of my payment?

Visit the Get My Payment application on IRS.gov to check the status of your stimulus check.

What if I receive a paper stimulus check?

If you receive an Economic Impact Payment in the form of a paper check through the mail, a fast and safe way to deposit your money is with mobile check deposit. We encourage you to download the top-rated PlainsCapital Mobile App and use this free service.

How soon will my funds be available after I deposit my check?

If you deposit your Economic Impact Payment check in your PlainsCapital checking account at a branch, via our mobile app, or at a PlainsCapital Personal Teller Machine, it will typically take one business day for funds to be available, but in some scenarios, it may take longer.

How will I know when my stimulus payment has been deposited?

As always, you can use online banking or the top-rated PlainsCapital Mobile App to monitor your account balance and transactions as often as you wish.

To be notified in real time, we recommend setting up a transaction alert (in either online banking or the app). You can choose to be notified by text or email whenever a deposit or withdrawal is made on your account.

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