All FAQs

General Questions

If the payee’s bank account is in a closed status when the stimulus payment arrives, the payment will be returned. 

If the payee’s account is in a charged-off status with a balance due, the payment will be accepted into the account. However, the bank will not apply the stimulus funds to cover the negative, charged-off balance.

The bank will cash stimulus checks only for existing account holders. 

If you are not currently an account holder at the bank, you may open a new account with us. Please note that your new account must be titled to match the payee name on the stimulus check. 

  1.  Account holders may deposit a stimulus check through mobile deposit in our mobile banking app.

    Mobile deposits made Monday through Saturday, 7 AM to 7 PM (Central) will be posted to the account in less than 1 hour. We will not delay availability of funds for stimulus checks deposit through mobile deposit. 
  2. Account holders with a debit card may deposit a stimulus check at one of our many deposit-taking ATMs. 

    For stimulus checks deposited at an ATM, $100 will post to the account immediately and the remainder of the stimulus check deposit will be available on the next business day. 

If the payee’s account is in a charged-off status with a balance due, the payment will be deposited into the account. However, the bank will not apply the stimulus funds to cover the negative, charged-off balance. 

As the coronavirus (COVID-19) continues to grip the United States, politicians are working to offset the economic impact with a $2 trillion stimulus package. You may be wondering about the government coronavirus stimulus check you’ve been hearing about in the news.

This economic stimulus bill – the largest in U.S history – provides assistance to Americans affected by the coronavirus pandemic, which includes nearly everyone, from individuals to businesses. 

The stimulus package includes the following:

  • Checks for individuals and families
  • Expansion of unemployment benefits
  • Money for hospitals and health care providers
  • Financial assistance for small businesses
  • $500 billion in loans for distressed companies

The first bullet point likely caught your attention. Americans are receiving checks, but how much? When will you get it? And through what means?

Here’s the information you need about your federal government coronavirus stimulus check.

Your Coronavirus Stimulus Check

The amount of money you’ll receive from the government depends on your income.

An individual who earns $75,000 or less in adjusted gross income will receive the full amount of $1,200. Married couples earning $150,000 or less will receive a check for $2,400. For each child under 18, you’ll receive an additional $500.

As income increases, the payment amount decreases. Individuals earning more than $99,000 or couples earning more than $198,000 would not be eligible for government assistance under this stimulus package.

There’s no need to “sign up” to receive your check. The payments will be automatic for people who have filed a tax return since 2018. Your income information will come from your latest tax return. If you haven’t filed for 2019 yet, the government will use the information from your 2018 return. Remember that the IRS has granted an extension on filing 2019 taxes until July 15, 2020

Those on social security will also be eligible for the government relief check, as long as they’ve filed a Form SSA-1099. While some details are still being worked out, disabled veterans will be eligible as well, even those who don’t pay taxes.

According to Treasury Secretary Steven Mnuchin, the government is working to issue the relief checks before mid-April, although more information about the payout timeline is likely to emerge in the coming days.

After receiving your money, there are several options available for deposit.

Direct Deposit

If you’ve provided your direct deposit information to the IRS in the past when applying for a tax refund, you’re all set. Your federal assistance check will be deposited directly into your bank account with no additional work on your part.

If you filed your 2018 or 2019 federal income taxes but did not provide direct deposit information, the IRS has created a new online portal so you can provide them with your direct deposit information. You'll get your funds more quickly than a paper check. You can access the portal by clicking here.

According to the bill, Americans will receive a paper notice in the mail outlining information about the amount distributed and the bank account to which it was directed. If you don’t see the money reflected in your account or you have an issue with the payment, you could then contact the IRS.

Mobile Deposit

If you’ve previously chosen to receive a check in the mail for your tax refunds, you’ll get your federal assistance check in the mail as well.

In a time of social distancing and staying home whenever possible, it’s best to deposit your check without leaving the house. Many banks, including Armed Forces Bank, offer a “mobile deposit” option with online banking. If you have a smartphone with your bank’s app, you can take a picture of your check – both sides, including the endorsement on the back – which will then be deposited into your bank account.

Be mindful that the funds from your mobile deposit may not be immediately available for use. The funds ability schedule provided to you by your bank when you opened your account will generally apply to mobile deposit as well.

Learn more about Armed Forces Bank's Mobile Deposit feature.

Please note that mobile deposits made through Armed Forces Bank must be endorsed with the following information:

  • "For Armed Forces Bank Mobile Deposit"
  • Account Number
  • Name

Smart ATMs

If mobile deposit isn’t an option for you, many ATMs have the capacity to accept check deposits. Before leaving the house for the ATM, check online to make sure that it takes deposits.

With Armed Forces Bank, many of our locations feature high-tech, touch-screen ATMs so you can easily get cash, make deposits, transfer funds and more. Our Smart ATMs are available 24 hours a day, 7 days a week.

Find a Smart ATM near you.

In-Person Banking

Due to social distancing and stay-at-home orders, some banks may be operating in different capacities for the safety of their customers and staff. However, banks are generally considered an “essential service,” so most banks will be open.

Just be sure to check your bank’s hours in advance, as their hours may have changed.

You can find Armed Forces Bank's current, updated hours by location.

Your Coronavirus Stimulus Check Made Easy

During these uncertain times, it feels good to have someone to lean on. Armed Forces Bank is working hard around the clock to be your go-to bank for your financial needs during this time. 

We offer several convenient, easy-access options so that you can bank from the safety of your home, phone, or car.

We’re here whenever – and wherever – you need us.

Need a Bank to Deposit or Cash Coronavirus Stimulus Check?

Don’t have a bank account to cash or deposit your relief check? We make it easy to open an account online.

Member FDIC