Updated March 15, 2021
On March 11, 2021, President Biden signed into law the American Rescue Plan Act of 2021 that includes a third round of stimulus payments (also known as Economic Impact Payments) to eligible U.S. residents. The IRS is in the process of disbursing the payments over the next few weeks. Please note that the eligibility criteria for the stimulus payments in the American Rescue Plan Act of 2021 is different from prior rounds of stimulus payments. Eligibility is solely determined by the government.
Learn more about eligibility and check your payment status.
Direct Deposit of Stimulus Payments
Mechanics Bank will process stimulus payments as they are received from the government, and we have no control over when they are issued. We do not place holds on these deposits.
If the IRS has your bank account information and you are eligible for a stimulus payment, you don’t need to take any action. The payment will be deposited directly into the same bank account you used when you filed your Federal tax return.
If the IRS does NOT have your bank account information and you are eligible for a stimulus payment, you should expect a check or debit card from the IRS in the mail in the coming weeks.