Economic Impact Payments
What you need to know
The recently signed American Rescue Plan Act of 2021 provides another round of 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 are preparing to deliver the 2021 Economic Impact Payments to qualifying individuals. While most people won’t need to do anything to receive their payment, having direct deposit set up with the IRS will receive their funds faster than those waiting on a paper check.
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 2019 or 2020, 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
You may use the IRS and Treasury Department Get My Payment tool that allows you to set up direct deposit. 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. Visit the IRS website for more information.
Non-tax filers
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.
Understanding the 2021 Economic Impact Payments
You may be entitled to a new round of Economic Impact Payment as part of the recent American Rescue Plan Act of 2021.
Where can I go for additional information?
To learn more, including who's eligible, how payments will be received, payment amounts, and other information, you should visit the IRS directly. If eligible, you may check the status of your payment at IRS.gov/GetMyPayment. For more information about Economic Impact Payments, please visit IRS.gov/EIP.
What if I'm receiving a direct deposit into my Bank of Hawaii account?
If the IRS has your Bank of Hawaii account information from your 2019 or 2020 tax filing and/or the account number used in the previous stimulus payment program, then you should receive your payment by direct deposit. To see if you have received a payment, the easiest way to confirm if your Economic Impact Payment was deposited is to check your balance using e-Bankoh Online Banking or the Bank of Hawaii Mobile App. The payment will appear in your recent transactions. You can also set up Account Alerts to be notified when your stimulus payment is deposited.
What if I’m getting a paper check?
If you receive a paper check, you need to sign the back of the check. Then you can:
- Use Mobile Check Deposit in the Bank of Hawaii Mobile App
- Deposit the check at a local branch or at a Bank of Hawaii ATM that accepts deposits.
What if I'm getting a debit card?
Some payments will be mailed as an Economic Impact Payment card. If you qualify for this payment type, the card will be sent in a white envelope that prominently displays the U.S. Department of the Treasury seal. It has the Visa name on the front of the Card and the issuing bank, MetaBank®, N.A. on the back of the card. Information included with the card will explain that this is your Economic Impact Payment. More information about these cards is available at EIPcard.com.
Where can I go for additional information?
To learn more, including who's eligible, how payments will be received, payment amounts, and other information, you should visit the IRS directly. If eligible, you may check the status of your payment at IRS.gov/GetMyPayment. For more information about Economic Impact Payments, please visit IRS.gov/EIP.
What if I'm receiving a direct deposit into my Bank of Hawaii account?
If the IRS has your Bank of Hawaii account information from your 2019 or 2020 tax filing and/or the account number used in the previous stimulus payment program, then you should receive your payment by direct deposit. To see if you have received a payment, the easiest way to confirm if your Economic Impact Payment was deposited is to check your balance using e-Bankoh Online Banking or the Bank of Hawaii Mobile App. The payment will appear in your recent transactions. You can also set up Account Alerts to be notified when your stimulus payment is deposited.
What if I’m getting a paper check?
If you receive a paper check, you need to sign the back of the check. Then you can:
- Use Mobile Check Deposit in the Bank of Hawaii Mobile App
- Deposit the check at a local branch or at a Bank of Hawaii ATM that accepts deposits.
What if I'm getting a debit card?
Some payments will be mailed as an Economic Impact Payment card. If you qualify for this payment type, the card will be sent in a white envelope that prominently displays the U.S. Department of the Treasury seal. It has the Visa name on the front of the Card and the issuing bank, MetaBank®, N.A. on the back of the card. Information included with the card will explain that this is your Economic Impact Payment. More information about these cards is available at EIPcard.com.
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.
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