Consumer Economic Impact Payments – Round Two

On December 28, 2020, President Trump signed a $900 billion coronavirus relief package to aid American consumers and businesses struggling as a result of the coronavirus pandemic. A provision of the law includes a second round of Economic Impact Payments (EIPs) to be sent to eligible Americans. Below is helpful information regarding EIPs.

Frequently Asked Questions:

HOW MUCH WILL MY PAYMENT BE?
The Internal Revenue Service is the agency responsible for determining eligibility. Single adults with an adjusted gross income of $75,000 or less will get $600. The $600 limit will also apply to dependents. So, married couples earning a combined adjusted gross income of $150,000 or less with two kids, will receive a total of $2,400. Individual and married taxpayers earning over $75,000 and $150,000 respectively will get reduced payments with full phase-outs at $99,000 and $198,000.

For complete eligibility information please visit the IRS website.

WHEN WILL I RECEIVE MY PAYMENT?
Payments are expected to be made via ACH between now and the end of January.

If you filed taxes in 2019 and included your bank routing and account number for payments or refunds, and this information has not changed, the IRS has the information it needs to send your payment electronically. For Social Security recipients, the IRS will use direct deposit by the Social Security Administration to facilitate payments. If the direct deposit information you have provided in the past is for a bank-issued prepaid debit card, you will receive your funds on that card account.

The IRS has updated its Get My Payment tool for the second round of payments. You should be able to check the status of your payment soon by visiting the IRS’ Get My Payment web tool. Recipients will be mailed a check if the IRS does not have your information on file. Check payments will follow weeks or possibly months after the direct deposits are sent.

HOW CAN I DEPOSIT MY EIP CHECK?
Deposits can be made in person, through our drive-thru, or night deposit. You can also deposit your check electronically using the River City Bank Mobile app.

WHEN WILL MY DEPOSIT BE AVAILABLE FOR WITHDRAWAL?
Deposits are generally available for withdrawal within 1-2 business days following the date of deposit.

CAN I OPEN A BANK ACCOUNT WITH MY EIP?
River City Bank offers online account opening for consumers at https://rivercity.bank/personal/personal-checking/, or you may contact one of our account specialists at (706)236-2123.

BEWARE OF SCAMS.
Look out for suspicious email, text messages, phone calls, and fraudulent websites that may impersonate a company, charity, or government agency. Remember:

  • NEVER share sensitive information such as your online and mobile banking password or social security number.
  • ALWAYS access digital banking by using our secure mobile app or visiting rivercity.bank.
  • If you receive a suspicious email or text message, NEVER respond, click on any links, or open attachments.
  • We transitioned to .BANK for security purposes. Please look for the .BANK when visiting our website and in all River City Bank emails to know you’re communicating with us.

 

Watch for updates. We’ll update this page with more information about additional relief measures.