Economic Impact Payments
Information about Economic Impact Payments (Stimulus Checks)
updated March 18, 2021
On March 10, 2021, the U.S. Congress passed the American Rescue Plan, which President Biden signed into law on March 11. It includes a third round of economic impact payments. The first batch of payments were 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 fastest way to learn if your payment has been deposited into your Chambers account is to register for account alerts via Chambers Online Banking. You can choose email or text alerts (or both). Please view our step-by-step instructions for more information.
Due to anticipated call volume, we encourage you to log onto Online Banking, utilize your Mobile App, or use Telephone Banking to verify that the Economic Income Payment has been deposited into your Chambers Bank account. If you call your local branch or our Customer Care team to inquire about this deposit, please be aware that your wait time may be longer than usual.
What do we know about these payments?
This third round of payments tops out at $1,400 per person with that same amount for dependents — including, for the first time, dependents over the age of 17. What a person receives, however, depends on income.
People who have a Social Security number are eligible for stimulus checks, including taxpayers and dependents. If you don't normally file taxes, the IRS has additional information on their website about how to claim your money.
How much will you get?
Here are the basics outlined by the White House:
Individuals who have an adjusted gross income of $75,000 or less will receive the full $1,400. Those making more than $80,000 (adjusted gross income) are not eligible for payment, and those making between $75,000 - $80,000 will receive less than the full $1,400.
Individuals who receive $1,400 will get an additional $1,400 for each dependent, including adult dependents.
Heads of households who make $112,500 or below will get the full payment. Those who make more than $120,000 do not qualify.
Married couples who collectively make $150,000 or below can each get $1,400. Those who make more than $160,000 do not qualify.
**Unlike the Economic Impact Payments of 2020, the third payment is NOT exempt from garnishments.
Where can you get more information?
More information about Economic Impact Payments will be posted on IRS.gov/eip. Later, you may check the status of your payment at IRS.gov/GetMyPayment. For other COVID-19-related tax relief, visit IRS.gov/Coronavirus.