Economic Impact Payments: FAQ

Due to questions regarding Economic Impact Payments, you may have difficulty connecting with WCCU, as we work through calls, emails and messages. Some FAQs and Answers can be found here.

When will my pending payment be deposited?

ACH Deposits are processed around 6:15AM each morning. If the deposit comes in with an error, we need to correct it and will post it later in the morning. ACH rules state that we cannot post the funds until the effective date, so a pending payment will not be available until the effective date.

Why isn't my payment showing yet?

The IRS is releasing payments in waves. We do not have access to their systems to predict when your payment will arrive. The IRS plans to relaunch a Get My Payment tool soon. You will be able to check the status of your payment, including the date of the payment and the method (direct deposit or mailed payment date). Mailed payments will require more processing and mailing time. The Get My Payment tool will be available herehttps://www.irs.gov/coronavirus/get-my-payment

How often are payments sent by the IRS?

During the initial payments in spring of 2020, the IRS released the payments in weekly batches. We received three large waves on Wednesdays with deposits being made the following Monday. We expect a similar pattern for January 2021.

My account information has changed or was incorrect. Can I update it using the Get My Payment tool?

According to the IRS, your payment information cannot be changed. If you don’t get a payment and you are eligible to receive one, it may be claimed on your 2020 tax return as the Recovery Rebate Credit.

The last four digits showing on the "Get My Payment" tool from the IRS don't match my WCCU Account number.
An announcement has been shared with us that there may be 15-20 million Economic Impact Payments sent to tax preparers instead of tax payers. (For example, if you processed your 2019 taxes through H&R Block and received your payment directly from them, your second stimulus check may have been sent to H&R Block instead of you.) A payment sent to H&R Block will show an account number ending with 6893.
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How can I tell where my payment was sent? Use the IRS’s “Get My Payment” tool: https://www.irs.gov/coronavirus/get-my-payment
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The best information available to us at this time suggests that the IRS did not apply, or did not correctly apply, a potential fix for payments in round 1 EIPs that were sent to tax preparers. WCCU has processed payments as instructed by the IRS. Please wait to contact your financial institution or tax preparer as they are not responsible for the error.
The IRS is showing the payment was issued, but I do not see it in my account.

In general, if your account information has changed at all since the last payment, here is the response from the IRS: Your payment information cannot be changed. If you don’t get a payment and you are eligible to receive one, it may be claimed on your 2020 tax return as the Recovery Rebate Credit.

I closed the checking account that the first payment was deposited into, but I still have a savings open. Where will my payment go?

If you still have an open savings account under that account number, the funds will be deposited into that savings instead of the closed checking.

More Information from the IRS:
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