U.S. consumers have been eager to receive their $1,400 payment after President Joe Biden signed into law a third round of direct stimulus transfers in less than a year. The Internal Revenue Service has said while the official payment date is Wednesday March 17, it’s begun sending the payments, with many consumers receiving them via direct deposit in their bank account.
“We expect that electronic stimulus payments will be available in eligible Chase accounts as soon as Wednesday,” the bank said on its website. “We recommend that you set up an account alert to tell you when deposits post to your account.”
Wells Fargo said it’s processing all of the direct deposits according to the effective date provided by Treasury. The lender warned customers that branch and call-center workers wouldn’t have additional information about how consumers can expect to receive their stimulus payments.