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Economic Impact Payment Update

On April 10-11, 2020, the Department of the Treasury’s Bureau of the Fiscal Service will transmit the initial batch of Economic Impact Payments to the Federal Reserve for ACH processing. The volume for economic impact payments transmitted this weekend is 81 million payments with an effective pay date of April 15, 2020. The Department of the Treasury's Bureau of the Fiscal Service anticipates continuing to transmit Economic Impact Payments every Friday, as payment information becomes available.

We are receiving an overwhelming number of calls regarding the status of economic relief payments. We anticipate the majority of the direct deposits to occur this week.

We are doing our best to support all customers in a timely manner; however, if you having issues with reaching a Customer Care Representative today, please private message our page with your phone number. A member of our team can call you directly. You will receive call backs as our team becomes available to initiate them.

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For more information please visit IRS.Gov.


 

The influx of calls to Customer Care is largely related to economic impact payments. In an effort to help all customers receive answers and avoid long wait times, we’ve compiled the most asked questions around these payments:

 

Where is my payment? Why haven't I received an economic impact payment yet?

Midland States Bank does not control when the US Department of Treasury sends Economic Impact Payments (stimulus payments), and we are unable to look it up for you. Payments are being posted to customer accounts automatically, as they are received. The US Department of Treasury will be sending these payments in waves over the next two weeks.

 

How can I look up information about my economic impact payment?

Visit IRS.gov/eip to see if you are eligible, enter non-filer information, and find answers to economic impact payment questions. Keep referring back to this site for updated information.

 

Why did I get an amount other than $1,200 or $2,400?

This question should be directed to the IRS. Midland does not determine the amount, but simply posts what the US Department of Treasury sends us. 

 

 

Note: If no bank account is listed on either your 2018 or 2019 return, the IRS will send a physical check to your most recent address on file. Payments made via check are expected to start going out the week of April 20. Checks can be verified at tcva.fiscal.treasury.gov.