Economic Impact Payments

What to Know About Your Stimulus Check

April 3, 2020
by Team SESLOC

Update 5/28/20 — Eligible taxpayers expecting a check in the mail will receive a prepaid debit card instead. These stimulus payments will arrive in a plain envelope from “Money Network Cardholder Services,” and the issuing financial institution is Meta Bank. Stimulus VISA Debit Cards can be used at ATMs, for purchases, and funds can be transferred to your bank account without any fees.

Update 5/12/20 — The deadline for taxpayers to input their direct deposit information to receive their stimulus checks is noon on Wednesday, May 13. Locate your SESLOC direct deposit information and update the IRS with the Get My Payment portal. Once the deadline passes, eligible taxpayers will be mailed a check.

Update 4/16/20 — Social Security recipients will automatically receive their payments via check later this month. Low-income individuals who do not normally file taxes must submit their information online through the IRS’s new non-filer’s tool.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on Friday, March 27. This act includes economic impact payments to individuals, also known as “stimulus checks.”

You can read more about the relief the act provides to individuals and businesses here, but this is what you need to know about claiming your check:

  • Stay up to date by checking the IRS Coronavirus Resource website.
  • To qualify, individuals generally must have a Social Security number and must not qualify as the dependent of another individual.
  • Payments will be based upon your 2019 tax return (or 2018 if you haven’t filed 2019 yet). Expect to receive $1,200 ($2,400 if married filing a joint return) plus $500 for each qualifying child under age 17.
  • Payments are phased out for those with adjusted gross income (AGI) exceeding $75,000 ($150,000 if married filing a joint return, $112,500 for those filing as head of household). See chart here.
  • Payment will be deposited into the bank account noted in your 2019 (or 2018) tax return. If you did not provide direct deposit information, note that the Treasury is planning to launch a web portal to provide that information. Need help finding your account information to register for direct deposit? Follow the instructions below* for Online Banking or call our Contact Center at (805) 543-1816.
  • Payments without direct deposit information will be mailed. Learn how to deposit your check with Mobile Banking and avoid a trip to the branch.
  • Retirees who do not file taxes will have their payments based off the information on the Form SSA-1099 or Form RRB-1099.

Want to know when your check is deposited? Create an Alert in Online Banking:

  1. Log into Online Banking.
  2. Select Services in the menu.
  3. Select Alerts.
  4. Create New Alert, History Alert.
  5. Select the account share set up for the direct deposit.
  6. Select Credit Transaction, enter your criteria.
  7. Select how you would like to receive the alert.

*Where to find your SESLOC account information in Online Banking for direct deposit:

  1. Log into Online Banking.
  2. On the Accounts home page, select the tile of your preferred share.Online Banking Account Tile
  3. Click Details. Your ACH/Direct Deposit information will be displayed.
  4. Direct Deposit Info ScreenshotEnter this as the Account Number on the direct deposit form. Provide the SESLOC Routing Number: 322282713(this number is displayed in the footer of Online Banking).


Learn strategies for getting the most out of your stimulus check.

Filed under Financial Health

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