Economic Impact Payments

Frequently Asked Questions and Answers

The American Rescue Plan Act was signed into law last week. The plan includes a number of measures, including direct Economic Impact Payments to eligible individuals and families.

Navigator Members have questions about what this third round of payments means for them. Here are answers to some frequently asked questions, based on what we know right now.

Will I receive a third stimulus payment?
Navigator does not know in advance who will receive stimulus checks or when or how much a Member will receive. That information comes from the IRS. Please do not call the Credit Union for details about your payment.

Beginning March 15, individuals can check their payment status and confirm payment type by using the Get My Payment tool on the IRS website.

Can I find out when I receive a stimulus payment deposited to my Navigator account?
There’s no need to call Navigator to see if you have a pending Economic Impact Payment. Members can see pending deposits on our free mobile app and/or be notified through e-Alerts.

When using the app, the pending deposit displays on the specific account to which the deposit will be posted. Using the mobile app to see pending deposits eliminates the need to call the Credit Union and avoids long hold times waiting for information which is right at your fingertips. It also allows you to see your available balance and displays any pending debits.

For more information on Navigator’s free mobile app, click here. To learn about setting up e-Alerts, click here.

Why do I see a pending stimulus check deposit but the money is not in my account balance?
Some Navigator Members are already seeing pending deposits when using our mobile app. However, those pending funds come with a government specified release date. Currently pending deposits are set to be released to Member accounts Wednesday, March 17, the official start date of the payment program.

I don’t see a pending stimulus check deposit; does that mean I won’t receive the third check?
The first batch of payments was sent by direct deposit, which some recipients started receiving as early as March 12. Additional batches of payments will be sent in the coming weeks by direct deposit and through the mail as a check or debit card. The best way to know specifically about your eligibility and status is to use the Get My Payment tool on the IRS website.

What if my stimulus check is set to deposit to a closed account?
If a Member’s stimulus check is deposited into a charged off checking account or any closed account, it will be sent back to the U.S. Treasury with the notation: account closed.

What do I need to do to get an American Rescue Plan relief payment?
Most eligible people will get the third Economic Impact Payment automatically and won’t need to take additional action. Those eligible will automatically receive an Economic Impact Payment of up to $1,400 for individuals or $2,800 for married couples, plus $1,400 for each dependent. Unlike the first two rounds of relief payments, families will get a payment for all their dependents claimed on a tax return, not just their qualifying children under 17.

Normally, a taxpayer will qualify for the full amount if they have an adjusted gross income of up to $75,000 for singles and married persons filing a separate return, up to $112,500 for heads of household and up to $150,000 for married couples filing joint returns and surviving spouses. Payment amounts are reduced for filers with incomes above those levels.

Do I have to have direct deposit to receive a 2021 Economic Impact Payment?
The IRS will use data already in its systems to send the third stimulus payments. Taxpayers with direct deposit information on file will receive the payment that way. Those without current direct deposit information on file will receive the payment as a check or debit card in the mail.

How do I get more information?
There is a great deal of information available on the IRS.gov/coronavirus site, including an Individuals and Families page. There is also information for businesses and tax preparers.

Beware of fraud
Phishing scams and fraudsters will try to take advantage of this third round of stimulus payments. Remember, Navigator and the IRS will never call you and ask for personal information such as your social security or account numbers. For helpful tips on spotting and avoiding these scams, click here.