Where’s My Stimulus Money?

May 12, 2021 | MOVO Blog Contributor

While many of us have received our stimulus money, some of us haven’t. If you didn’t, you might have questions like, “Where’s my stimulus money?” Get your stimulus payment and get paid fast with MOVO.

MOVO is committed to helping you get your stimulus payment as quickly as possible. When depositing your stimulus check into a MOVO Account™, there are no delays or holds on your funds, especially if you need it ON-DEMAND. In fact, MOVO offers hassle free bill pay on-the-go with our eCheckbook. Imagine, no more buying stamps or checks. We even mail it to your debtors for you electronically without a fee. Now that is peace of mind. For those us that have not received their funds yet, here are four possible answers:

Your direct deposit stimulus payment is in the next round.
If you signed up for a direct deposit refund on your 2018 or 2019 tax return, then the IRS has all the information it needs to pay you electronically. When you transfer your stimulus money to MOVO, you will be able to deposit your check and have access to funds right away.

You changed banks.
Many banks are receiving “ACH Rejects” because consumers have closed their accounts since they received their last tax refund. Banks research their customer database to find a different account for the customer, like a savings account, to help them receive their funds immediately. However, if another account cannot be found, banks MUST return the deposit to the IRS. The IRS will then send you a paper check. You can update or confirm your payment type as a direct deposit into your MOVO Account™.

You used a tax preparation service.
Reports have circulated that many tax preparation services such as H&R Block and Citi Tax require you have the funds initially deposited into their account then have a final destination account which is your account. The IRS, which has both account numbers, may have sent your stimulus money to your tax preparer’s account. You may need to contact your tax preparer if this is the case. Provide your tax preparation service with your MOVO Account™ information for immediate access.

You have no bank account on file.
If you did not receive a tax refund through direct deposit, you may not have a bank account on file with the IRS. No bank account, no problem! Once you successfully register for a MOVO Account™, simply add your account information for direct deposit, and access to your funds the same day through the “Get My Payment” link.

Deposit Funds with MOVO® for Same Day Access
The IRS has an online “Get My Payment” tool where you can check your payment status, confirm your payment type (direct deposit or paper check), and enter your bank account information for direct deposit. In the MOVO App™, you can locate your account and routing information under Digital Banking > Direct Deposit and input this information into the IRS portal.

The IRS announced they anticipate payments will continue to be issued to Social Security recipients and other federal beneficiaries who do not normally file a tax return. So, if you still haven’t received your relief money. Use our tips and don’t let your money go to waste. Join Now. #LetsMOVO