Where Is My Stimulus Check Being Deposited and Where Can I Cash It?

At least 80 million eligible Americans should now have received their stimulus checks from the government, with tens of millions more still waiting to receive theirs.

There are two ways the check will be sent: Either by direct deposit into your bank account or sent by mail.

Many of those who have already received their money will have chosen the direct deposit option when they filed their tax returns for 2018 or 2019. The International Revenue Service will also use the information you provided on tax returns to work out how much money you will receive and what account to deposit the money into.

The IRS warned that if the listed account is closed or no longer active, the bank will reject the deposit and the check will be mailed to the address they have on file for you.

For many eligible Americans, such as those who did not file tax returns in either 2018 or 2019 or those who receive Social Security, the reason they have not yet received their check is because it is being sent by mail.

According to a IRS memo seen by The Washington Post, the paper checks will not be sent until at least April 24 and could take months to arrive. The IRS said they plan to send out at least five million checks a week, starting with those who earn less than $10,000 a year.

From May 1, checks will start sending to those earning $20,000 and less, then checks for those earning less than $30,000 will start sending on May 7. This weekly send outs of checks in income increments of $10,000 will continue until June 26, when those in the final bracket earning $100,000 or less will be sent theirs.

All single files who earn more than $100,000 are not eligible to receive a stimulus check.

Once you have received your paper check through the mail, the easiest way for many Americans to cash it is simply to take it to your bank, providing your nearest one is still operating.

Some banks allow people to cash checks if they are not a customer for free, although many charge a fee. It is advised to check beforehand precisely how much you will be charged if you are a non-customer.

The Federal Deposit Insurance Corporation FDIC is encouraging banks to ease restrictions on cashing non-customer checks to make it easier for people amid the coronavirus outbreak.

For the millions of Americans who do not currently have a bank account, their best option is to create one online and then deposit the paper check into it, or cash it.

You can cash it at a registered check cashers such as Walmart or Kruger. Your local grocery stores or supermarkets may provide cash checking service.

However, it is also advised to check before you cash a check at such a store, as many also charge a fee.

The charge can be a set figure or a percentage of on the check, and the amount differs from state to state.

States such as Texas do not regulate cash-checking services, meaning outlets that offer such a service can charge what they like. In other states such as Florida or Georgia, the charge for cashing a government check is either 3 percent of the amount of the check or $5, depending which is greater.

You can use the IRS Get My Payment app to check the status of your payment, including how the payment will be made.

A US one hundred dollar bill with Benjamin Franklin is seen amongst other bills in New York on Friday, February 19, 2016 Getty/Richard Levine/Corbis