[ad_1]
Banking giants Wells Fargo and Chase have said they will not process recently issued stimulus payments of $ 1,400 until Wednesday, causing an uproar from their customers.
The HuffPost notes that banks said in individual statements last week that they would not process and publish payments until March 17.
“We anticipate that most electronic payments will be available as of Wednesday, March 17, 2021,” Chase said on his website
“Wells Fargo will process all direct deposits according to the effective date provided by the US Treasury,” Wells Fargo said.
The ads drew criticism on Twitter.
Wells Fargo will therefore be holding government stimulus checks for 2 days before allowing people to access the funds. This allows Wells to earn interest on the ppl money.
67% of Wells political donations went to Dems in 2020, including Dem PACs like Ameripac. Pretty. pic.twitter.com/QT1EfTb9b7
– Prof Zenkus (@anthonyzenkus) March 13, 2021
It’s your money. Stimulus checks come directly from the US Treasury. So why @Hunting and @Wells Fargo keep your money until March 17th? https://t.co/pNDYXYMeHy
– Keith Boykin (@keithboykin) March 13, 2021
HuffPost added that other banking institutions like Chime are making payments immediately available to its customers. Chime claims to have already made around $ 600 million in stimulus payments.
“We have already made approximately $ 600 million available to 250,000 members. These payments will be available at traditional banks on 3/17, but Chime members already have access and more are on the way, ”Chime wrote on Twitter.
Stimmy alert! We have already made approximately $ 600 million available to 250,000 members. These payments will be available at traditional banks on 3/17, but Chime members already have access and more are on the way. No reason to wait for St. Patrick’s Day at Chime you’re always in luck
– Chime (@Chime) March 12, 2021
Stimulus payments were first sent this weekend shortly after the $ 1.9 trillion stimulus bill was passed along party lines.
When the first two stimulus payments were sent out, many people reported having difficulty getting their payments. Those who used tax preparation services like H&R Block and TurboTax reported having difficulty getting their payments because the checks were sent to other bank accounts.
Individuals can re-check the status of their dunning checks through the Internal Revenue Service (IRS) “Get My Payment” website.
[ad_2]
Source link