Some Americans have already received the third stimulus payment, according to the mobile banking service Current.
The first deposits come just a day after President Joe Biden signed the American Rescue Plan (ARP) Act. The bill includes a provision for a third stimulus check worth up to $ 1,400 per qualified person and for each of their dependents.
A Current spokesman told CNBC Make It that the bank began receiving the third round of payments just before noon on Friday. The bank began paying payments to customers ’accounts immediately, making the funds fully available, they said, and estimating that they have already credited about 25% of Current account holders eligible.
The average membership payment is around $ 2,000, they said, even though at least one member received more than $ 9,000.
Jacob Schwartz, 22, is banking with Current and received his payment on Friday. He says he will use it to pay rent, food and other bills.
“The money is very tight right now,” says Schwartz, who lives in Pennsylvania. “I am in charge of paying most of the bills and half of the rent, while my roommate uses it [stimulus payment] so we can get a car so we can look for more work. “
The Biden White House said Thursday that the funds would be available as early as this weekend. The current spokesman said the bank did not wait to liquidate the funds before making them available to customers.
For those awaiting payment, the IRS will soon have a tracking tool available on its website, just as it did for the first and second payments.
To see how much you can qualify for, use this calculator from the Grow Personal Finance website: