Stimulus Payments FAQ
Update as of January 12, 2021:
We are receiving information for processing direct deposit stimulus payments from the U.S. Treasury in waves. This means that some customers have already seen a transaction from the U.S. Treasury in their account with a post date of January 4.
Just like the last round of payments, most people won’t need to sign up. We will closely monitor the IRS website for updates about the second round of payments and also post updates here that are important to you.
For information on the first round of stimulus payments, visit the IRS website.
Here's What You Can Do Now:
1. Make sure that you know your username and password for Online and Mobile Banking. If you are receiving your payment via direct deposit, Online and Mobile Banking will allow you to check your accounts 24/7 to know when your payment has been received. Log in or reset your password.
2. If you will receive a paper check, mobile deposit is a great way to deposit your check without making an appointment to deposit in person at one of our community offices. You can also deposit at a nearby First Commonwealth Bank ATM.
3. Educate yourself on potential stimulus payment fraud. We've gathered resources for you and will update them as needed. If you suspect fraudulent activity, visit our Fraud Center for ways to report fraud.
FAQs for Stimulus Payments
When will I get my stimulus payment?
According to the IRS, payments will be made in waves. This means that some customers will see a pending transaction from the U.S. Treasury in their account as early as January 2. Don’t worry if you don’t see your transaction yet on January 2 – we expect it to take several days for the U.S. Treasury to process all of the payments. You can keep an eye on your account with Online and Mobile Banking 24/7.
How will I get my stimulus payment?
Most stimulus payment will be deposited directly into the banking account reflected on the most recently filed tax return.
If you did not use direct deposit for your most recent tax return, visit the IRS website to review available options.
If you aren't set up for direct deposit but want to expedite your payment, you may be able to provide your banking information via the IRS website. You'll need to know your First Commonwealth Bank account number where you'd like to receive your money and our routing number, which is 043306826.
If you receive Social Security and don't file a tax return, you will receive your payment via direct deposit into the same account that you receive your Social Security.
In addition to paper checks, prepaid cards will be sent out to some of the recipients that aren’t enabled to receive ACH payments. These will be delivered via the U.S. Postal Service.
If you are not required to file tax returns, visit the official IRS website for instructions.
What if the bank account I used on my recent tax return is closed?
If the account is closed, we will return the deposit to the IRS and you will be issued a check that will be mailed to the address the IRS has on file for you.
Can I change the bank account for the direct deposit?
According to the IRS, you cannot change your bank account information with them.
Do you know how much money I should expect?
The bill includes direct stimulus payments of $600 to individuals, $1,200 per couple, and $600 per child if claimed as a dependent. To get the best information on your eligibility and the amount of your payment, we recommend you visit the official IRS website www.irs.gov.
Where can I find my routing number and account number?
The First Commonwealth Bank routing number is 043306826. You can locate your account number by looking for the 10-digit number at the bottom of your check. This will be next to the First Commonwealth routing number. You can also find your account number within Online Banking by selecting your account and then scrolling to "Details."
How will I know I got my stimulus payment?
Great news! We have several ways for you to watch for your stimulus payment. You can log in to your online or mobile banking or you can call our automated account service line at (888) 711-2265 (BANK) 24/7. We're also expecting the IRS to update the Get My Payment portal, which will allow you to see the latest payment information issued. We'll update this page when that becomes available.
What do I do if my stimulus payment doesn’t come?
The IRS set up the “Get My Payment” portal to provide the status of your stimulus payment. If you have not received your full payment by the time you file your 2020 tax return, you may claim the Recovery Rebate Credit on your tax return. If you only received a partial Economic Impact Payment, you can take the Recovery Rebate Credit for any remaining amount you're eligible for by completing line 30 of the 2020 Form 1040 or 1040-SR. For more information about Economic Impact Payments and the 2020 Recovery Rebate Credit, visit IRS.gov/eip.
I don't think I received the right amount. What should I do?
If you believe you received a partial Economic Impact Payment, you can take the Recovery Rebate Credit for any remaining amount you're eligible for by completing line 30 of the 2020 Form 1040 or 1040-SR. For more information about Economic Impact Payments and the 2020 Recovery Rebate Credit, visit IRS.gov/eip.
My stimulus payment was impacted by the IRS tax preparer service error. What do I need to do to get my payment?
On January 11, 2021 the IRS announced new guidance on the second-round stimulus payments impacted by the processing error for individuals who used certain tax preparer services to process their 2019 taxes. Instead of working through their tax preparer partners as they previously announced, the IRS plans to reissue these payments directly to the taxpayer through a paper checks or direct deposit. Our customers do not need to take any action in order to receive the payment. The IRS has opened its "Get My Payment" portal to allow individuals to view their payment status. Please visit the IRS website.
How can I protect my stimulus payment from fraudsters?
The IRS website has some great tips for making sure you keep your stimulus payment out of the hands of fraudsters. First and foremost, never provide your confidential account information such as your debit card PIN or online banking password with anyone. We will never call, text or email you to ask for that information and the IRS won’t either. Even if the caller ID or email address looks like it is coming from us, do not share the information. Instead, call the number on the back of your debit card or on your checks and let us know that someone tried to gain your confidential information. We've compiled a resource of most common scams.