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- President Joe Biden signed the $ 1.9 trillion stimulus package on Thursday.
- As of Friday, $ 1,400 in stimulus checks had already landed in people’s bank accounts.
- Further direct deposits, physical checks and prepaid debit cards will be sent in the coming weeks.
- See more stories on the Insider business page.
The latest round of stimulus checks have already landed in the bank accounts of thousands of people on Friday, according to the Wall Street Journal.
The $ 1,400 checks are the latest round of direct payments delivered to Americans since the coronavirus began about a year ago.
Treasury Department officials said earlier Friday that people should expect checks to start arriving this weekend after President Joe Biden signed the Democrats’ $ 1.9 trillion stimulus package on Thursday. of dollars.
Officials said payments would be made over the next few weeks, most by direct deposit, Politico reported.
The Current banking app told the Journal that it has already processed thousands of stimulus deposits. Chime, another banking app, said the Twitter he had already made $ 600 million in stimulus payments to 250,000 accounts.
Further rounds of direct deposits are expected to launch in the coming weeks, with the government saying the official payment date is March 17.
The IRS told Politico that paper checks and prepaid debit cards will also be sent by the end of the month to people whose banking information it does not have.
The latest round of checks is larger than the previous two and is worth a total of $ 411 billion, the Journal reported.
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