Economic Impact Payments
What you need to know
The recently signed relief bill provides some much needed assistance for qualifying individuals through Economic Impact Payments. The payments are automatic, and there is no need to contact Bank of Hawaii or the IRS with payment timing questions.
The IRS and Treasury Department have already begun delivering the second round of Economic Impact Payments to qualifying individuals. While most people won’t need to do anything to receive their payment, those with direct deposit set up will receive their funds faster than those waiting on a paper check.
Based on the latest information we have, some qualifying individuals may see the direct deposit payments as pending or as provisional payments, which can viewed as recent transactions on the Bank of Hawaii mobile app and e-Bankoh on boh.com, in their accounts before the official payment date of January 4, 2021. The Internal Revenue Service (IRS) will begin mailing check payments starting December 30, 2020. All payments will be in waves and continue over several weeks.
How to check for your payment
Electronic debit or credit with the IRS
If you are eligible for the payment and have filed your taxes for either 2018 or 2019, you don’t need to do anything right now. However, the IRS and Treasury Department will be updating the IRS’s Get My Payment tool, which allows you to track your payment, confirm your payment type (direct deposit or check), and set up direct deposit soon. For the latest information, please visit the IRS website. To receive your funds quickly, we highly recommend setting up direct deposit when it becomes available.
Without electronic payments
The IRS and Treasury Department will be updating the IRS’s Get My Payment tool that allows you to set up direct deposit soon. You can also track your payment, and confirm your payment type (direct deposit or paper check). To receive your funds quickly, we highly recommend setting up direct deposit when it becomes available. Visit the IRS website for more information.
The Treasury Department and the IRS launched a web tool to allow quick registration for Economic Impact Payments (EIP) for those who do not normally file a tax return in order to set up direct deposit.
For a list of the information you will need to provide and the latest information, please visit the IRS website.
Customers can prepare to receive payments by:
- Signing up for eBankoh to check your bank balance, transfer money between accounts, pay bills, update your customer contact information and more.
- Downloading the Bank of Hawaii mobile app so you can check your transactions and see your Economic Impact Payment from the IRS.
- Learning how to use Mobile Deposit so you can deposit checks with your mobile phone or tablet from the Bank of Hawaii Mobile app.
- Finding your nearest Bank of Hawaii ATM to get your cash without waiting in line at the teller or use our Cardless Cash feature to withdraw cash using your mobile device.
Bank of Hawaii Routing Number
Guam, Saipan & Palau: 121405018
International SWIFT: BOHIUS77
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