Economic Impact Payments
Second Stimulus Payments Begin
December 31, 2020
The IRS began the process of making stimulus payments on December 29, 2020. The first batch of electronic payments included over 113 million payments to citizens. Additionally, the IRS is preparing to mail over 34 million checks and prepaid debit cards. Electronic payments and checks/prepaid cards should be arriving to eligible citizens the week of January 4, 2021.
For eligible citizens who filed a tax return in 2018 or 2019, stimulus payments in the amount of $600 per qualified individual are deposited directly into the bank account you had on file with the IRS for tax purposes.
Receiving Your Payment
You will receive your stimulus payments by either direct deposit into your account or by paper check in the mail. HomeTrust Bank has no insight into the dates which individual payments will be disbursed. You can check the status of your payments on the IRS Website.
To receive your payment quickly and securely, the IRS will deposit your payment into the same account you used to file your 2019 tax return or the account number used in the first stimulus payment program.
If you prefer to receive a check in the mail, your check will be mailed to the address the IRS has on file for you based on your most recent tax filing.
When you receive your check, we encourage you to use our Mobile Banking app to deposit your check. If you do not have the mobile app, please download it from your smart phone’s app store. You must enroll in online banking to use our mobile app and the mobile deposit feature.
Another alternative is to deposit your check at any HomeTrust ATM or drive thru convenient to your location.
- Checks deposited by 7:00 P.M. on a business day are considered received that business day.
- Checks deposited after 7:00 P.M. or on a non-business day are considered received the next business day.
- The first $225 of deposited checks is available the business day on which the check is received. Remaining funds are available the next business day.