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Economic Stimulus Payments: What You Need to Know

On March 10, 2021, Congress passed the COVID-19 American Rescue Plan, which contains a stimulus package to provide economic impact payments for many Americans.  Here are some of the answers to the most frequently asked questions we hear regarding payments:

Will I receive a third stimulus check?

There are several factors that determine your eligibility for a stimulus check. The stimulus payment amount varies by income level and is generally based on the adjusted gross income (AGI) from your most recent tax return. To learn more about all of the eligibility guidelines, visit the IRS Economic Impact Payment Center.

When will I get my stimulus check?

Based on the distribution of previous payments, it is expected that payments will begin to be issued in the next few weeks. Once the IRS begins issuing payments, you can find out when your payment was issued using the IRS Get My Payment tool.

How will I get my stimulus check?

There are three ways that the IRS distributes payments to eligible individuals:

  • Direct deposit payments using the account information the IRS already has on file for you.
  • A paper check mailed to the address the IRS has on file for you.
  • A debit card mailed to the address the IRS has on file for you.

Will Landmark let me know when my payment is received?

If you will be receiving your third stimulus check by direct deposit, we have an updated alert system that you can use to set up a notification alert when a deposit is received. This alert can be sent to you via email, text, a push notification through your phone app, or a secure message to your online banking mailbox. 

How to Set Up Your Stimulus Check Alert

Set up your stimulus check alert in three easy steps:

  1. Log in to online banking or mobile banking
  2. Choose “Manage Alerts”
  3. Under the ‘Transaction’ category, add the alert for ACH Deposit (credit) transaction.

Having trouble setting up your alert?

If you’re having trouble setting up your alert for the third stimulus check, please fill out our contact submission form today. If you’d like to learn more about the COVID-19 American Rescue Plan, we encourage you to find updated information on corresponding government agency websites.