Coronavirus Stimulus Checks 2020 – Deposits & Guidance | Wells Fargo

Covid-19 Stimulus Payment

Answers to your questions about government stimulus payments

May 13, 2020

These are challenging times. Undoubtedly, you’re feeling it in your communities and at home. We realize the government stimulus payments are critical to many of our customers, and we want to share what we’ve learned so far.

For other information, visit our COVID-19 resources and support page.

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Frequently asked questions

As part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the federal government is providing stimulus payments — also known as Economic Impact Payments, coronavirus tax relief, and government relief checks — to eligible recipients.

Wells Fargo does not have the ability to determine whether you qualify. Your eligibility is determined by the government. To learn more about eligibility and payment amounts, visit IRS.gov/coronavirus.

If you’re eligible to receive a payment, you may receive the funds in one of these ways:

  • By automatic deposit into the bank account reflected or reported on your 2019 or 2018 tax return. The deposit will appear in your account summary as “tax refund,” “tax ref,” or something similar.

    You may consider setting up a direct deposit alert1 through Wells Fargo Online®. This way you’ll receive an alert by text, email, or push notification when you receive a direct deposit in your account. Learn more.
  • By paper check. If you did not file a tax return or have not given the IRS your direct deposit account information in the last two years, you’ll receive a US Treasury check.
  • Note: If you used a tax preparer and your tax refund was directed to them, it is possible your paper check relief payment also went there. You will need to contact your tax preparer for more information.

You can check on the status of your Economic Impact Payment and update your direct deposit information for a pending payment using the IRS’s Get My Payment tool.

Please note: The deadline for submitting or updating your direct deposit information online to the IRS is Wednesday, May 13 at 12:00 ET. After that time, the IRS will prepare to send the remaining stimulus payments as paper checks, which are expected to arrive starting in late May and continuing into June. Direct deposit cannot be provided once the process of sending a paper check has started.

For more information on the IRS’s tools for tracking your payment status, go here.

Payments to eligible recipients are expected to begin on April 15 for those receiving direct deposit, and later in April for those receiving paper checks. Payments will go out in batches for many weeks.

You can check on the status of your Economic Impact Payment using the IRS’s Get My Payment tool .

Please note that Wells Fargo branch and call center staff do not have access to any additional information regarding if customers will receive a check or when electronic payments will post.

Visit irs.gov/coronavirus for the latest information.

If you’re eligible for a payment, and the account the U.S. Treasury directed your payment to was closed on the date the funds were received, Wells Fargo has returned the funds to the U.S. Treasury and they will redirect funds to you via check to the address they have on file for you.

According to the IRS, the Get My Payment tool will be updated to reflect the date your payment will be mailed. Once a payment is mailed, the IRS reports it may take up to 14 days for you to receive it.

Visit irs.gov/coronavirus for the latest information.

Our focus is to help those receiving a federal government stimulus payment (both direct deposit or deposited check) to have access to their funds as quickly as possible.

To that end, if your Wells Fargo consumer checking or savings account has an outstanding negative balance on the day before your stimulus payment deposit, Wells Fargo will make every effort to ensure that a temporary credit will automatically post to the account within 2-3 business days of the stimulus payment deposit. You will receive an email or mail notification with additional details.

If you choose to deposit your stimulus check into your business deposit account rather than your consumer deposit account, and you have a negative balance in that business account at the time of deposit, there will be no temporary credit.

If you used a tax preparer and your tax refund was directed to them, it is possible your relief payment also went there. You will need to contact your tax preparer for more information.

Wells Fargo customers can make a mobile deposit2 using the Wells Fargo Mobile® app or make a deposit at an ATM. Keep in mind, mobile deposits are subject to daily and 30-day rolling mobile deposit limits.

Download our app and enroll on your mobile device to access the mobile deposit feature and see your daily and rolling 30-day mobile deposit limits. Learn more about mobile deposit.

To check your daily and 30-day rolling mobile deposit limits for each eligible personal and business account:

  1. Sign onto the Wells Fargo Mobile® app
  2. Select Deposit Checks from the top right menu
  3. See your mobile deposit limits in two places: When you select a Deposit To account and on the Enter Amount screen

In most cases, deposited stimulus funds are available right away, up to $2500. Immediate availability of funds is subject to change at any time, without advance notice. Check your ATM receipt or mobile deposit confirmation screen to see when you will have access to your deposit.

Watch the video below to learn how to deposit a check with the Wells Fargo Mobile app.


Mobile Deposit

Want to save yourself a trip to the bank?

Mobile deposits are fast and easy.

And the best part? It’s already built into the Wells Fargo Mobile® app.

To get started, download the app and sign on.

Select “Deposit Checks” from the menu.

Choose the desired account

and enter the amount.

Before moving on, make sure to sign the back of the check

and write: “For Mobile Deposit at Wells Fargo Bank Only”

or, if available you can mark the box CHECK HERE IF MOBILE DEPOSIT.

Now, take a picture of the front and back of your endorsed check.

Submit your deposit, and you’re done.

You’ll get an on-screen confirmation as well as an email to let you know your deposit has been received.

Write, “mobile deposit” and the date on the front of the check.

You should keep the check secure for 5 days before tearing it up.

It’s that simple!

Deposit your next check with mobile deposit.

Available in the Wells Fargo Mobile® app.

Some accounts are not eligible for mobile deposit. Availability may be affected by your mobile carrier’s coverage area. Your mobile carrier’s message and data rates may apply.

Copyright 2019 Wells Fargo Bank, N.A. All rights reserved. Member FDIC.

If you receive a suspicious email or text message, don't respond, click on links, or open attachments. Please know that we won't ask for confidential information — such as your card PIN, access code or online banking password — if we reach out to you.

This IRS April 2, 2020, news release offers more details about scams related to government relief checks.

No, Wells Fargo did not provide your account information to the IRS. If eligible, the IRS uses the bank account reflected or reported on your 2019 or 2018 tax return.

For many of your banking needs, the mobile app and online banking are the fastest and most convenient way to bank, 24/7. Enroll today with an eligible account and you can:

  • Check your account balances and transaction history.
  • Set up direct deposit alerts.1
  • Deposit endorsed checks with our app.2
  • Check your daily and 30-day rolling mobile deposit account limits.

Our bankers in the branches and call centers will not have access to your individual status of whether you will receive a check, or where your payment is in process.

IRS tool guidance: If you have more questions about your stimulus payment status, visit the IRS tool guidance page.

Learn more

COVID-19 support

Learn more about how we are working to support customers during this time.

Get tips

Mobile banking tips

Get tips on how to get your banking done from home.

Get info

Stimulus payment updates

Visit irs.gov/coronavirus for the latest information .

Disclosures

  1. Sign up may be required. Availability may be affected by your mobile carrier’s coverage area. Your mobile carrier’s message and data rates may apply.
  2. Some accounts are not eligible for mobile deposit. Availability may be affected by your mobile carrier’s coverage area. Your mobile carrier’s message and data rates may apply.

Wells Fargo Bank, N.A. Member FDIC.

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