Banking giants Wells Fargo and Chase have said they will not process stimulus payments of $ 1,400 until Wednesday, prompting calls from their customers.
HuffPost notes that banks said last week in individual statements that they would not process and release payments until March 17.
“We expect most electronic payments to be available immediately on Wednesday, March 17, 2021,” Chase said. website
“Wells Fargo will process all direct deposits according to the effective date provided by the US Treasury,” Wells Fargo said.
The ads drew criticism on Twitter.
Therefore, Wells Fargo will hold government incentive checks for 2 days before allowing people to access the funds. This allows Wells to earn ppl money.
67% of Wells’ political donations went to Dems in 2020, including PAC Dem, such as Ameripac. That’s great. pic.twitter.com/QT1EfTb9b7
– Prof Zenkus (@anthonyzenkus) March 13, 2021
It’s your money. Incentive checks come directly from the United States Treasury. So why are they @Following and @ Fargo wells keeping your money until March 17? https://t.co/pNDYXYMeHy
– Keith Boykin (@keithboykin) March 13, 2021
HuffPost added that other banking institutions such as Chime made payments immediately available to its customers. Chime claims that it has already offered incentive payments worth about $ 600 million.
“We have already made ~ 600 million USD available to 250,000 members. These payments will be available at traditional banks on 3/17, but Chime members already have access and are still on their way, ”Chime wrote on Twitter.
Stimmy Alert! We have already made available 250,000 members ~ 600 million USD. These payments will be available at traditional banks on 3/17, but Chime members already have access and are in progress. There is no reason to wait until St. Pattys, at Chime you are always lucky
– Chime (@Chime) March 12, 2021
Stimulus payments were sent for the first time this weekend shortly after the $ 1.9 trillion stimulus bill was adopted along party lines.
When the first two incentive payments were sent, many people reported having trouble getting payments. Those who used tax preparation services such as H&R Block and TurboTax reported that they were struggling to receive their payments because the checks were sent to other bank accounts.
Individuals can re-check the status of incentive checks through the Internal Revenue Service (IRS) website.