The official release day for the stimulus checks is Wed, 3/17. Apparently the IRS has already sent money to some of the big banks for direct deposits. People are demanding to know why the banks haven't credited it to their accounts yet. I have no idea whether these comments are correct but they're interesting to read.

Anyone wondering why JPMorgan Chase and Wells Fargo are holding stimulus checks until March 17, look no further than this. Each bank makes around $5,000,000 per day on overdraft fees.

So Wells Fargo will be holding gov stimulus checks for 2 days before allowing people to access the funds. This let's Wells make interest off of ppl's cash. 67% of Wells' political donations went to Dems in 2020, including Dem PACs like Ameripac. Nice.

Stimmy Alert! We’ve already made ~$600M available to 250k members. These payments will be available at traditional banks on 3/17 but Chime members already have access and more is on the way. No reasons to wait till St. Pattys Day, at Chime you’re always lucky

So it's announced to be there on 3/17, government moved it to the banks so it's ready, and people are complaining that their free money isn't here early?

Banks have create a chance to "float money" more these digital days.

Used to be they made a fortune in holding checks and collecting $$ days before it was released.

Low interest rates and digital deposits have cut into them.

Could it be that .gov always pays on a Wednesday? Tax return always a Wednesday. Social Security always a Wednesday. Plus the fact that the sender can and does at times stipulate when the cash will be available. Nah, it’s a conspiracy.

The corruption feedback loop is not quite up to speed. They need to get Hunter on that ASAP.

Wish they'd never managed to pass the thing. Most of the money goes to democrat pet projects and favored people.

We don’t get stimulated, we get ejaculated, probably have to pay 7 or 8 large.

That was every year before I retired.

The Banks are probably afraid the checks will bounce!

Would you cash a check from an organization that was $28T in debt?



Jerry

I object to the premise of "somebody's holding MY money."

It ain't your money. People are getting damned entitled.

"Where's my check???" GMAFB.

Actually,it is your money.Do you think the Government has any money of it own?

First Horizon Bank in Tennessee has had the money deposited into their system, but the branch manager her in Chattanooga told me this morning, that they were not going to release the funds into individual accounts until the 17th. I said, so your bank is going to make money on my money for three days before giving it to me. He just said no "comment." So yes, they are using our money.

It's not my money. It's "our" money. And a lot of it is going to people who haven't been hurt by the shutdowns.

can ya wait til el banko buys/sells some crypto before they give ya the $$? LOL

Reminds me of the WV My Checks: My Check come in yet? That was before the EBT gold cards.

They're not holding your money. Their holding mine, and giving it to you.

biden is already talking tax increase to pay for it

My kids already have theirs.

Good month to buy stock in the makers of Narcan?

Desperate for that "free" money?

Well I won't get any, but it's all Monopoly money anyway. If a bank holds that free 'money' for awhile who gives a schit?

They are printing checks so fast that they can't print that monopoly money fast enough to keep up with demand. Gotta give 'em some time to play catch up before folks start cashing too many checks too soon.

Shocking that people would complain about that, isn't it?

Making money off flipping short term schit in the markets.

To think otherwise is naive ..........

The non citizen and other countries get it first

what a difference a day makes...financial institution stimulus

Let's see. People have been out of work for a year and $1400 is gonna make a difference?

Yep!

just give him the $$ and cut out the middleman...LOL

anyone on here bitching about .gov commie uncle sugar handouts hasn't worked long enough, hard enough, or smart enough!

Oh, I'd like to cut out the middleman alright.

I would be one of those along with millions of other retirees. Social Security has never quit, my pension has never failed to arrive, and my IRA is paying out just fine. Yet, come Wed, the stimulus should be in my account along with all of those who were laid off.

HOWEVER, the stimulus is intended to stimulate. We have some purchase we want to make which will dump the money back into the economy. I don't have to pay income tax on it, but those who I buy from will along with all of the workers to make and sell what we buy. Millions of us retirees will be buying stuff which puts someone to work up the line. The theory of the stimulus could be a good thing in getting people back to work if it wasn't mostly squandered on give-a-ways, handouts to foreigners, and congressional kickbacks. As it is, it's a terrible thing.

So in other words, you're in favor of government handouts. Got it.

An ACH (automated clearing house) transaction takes a couple of days to process, and in those days can be “called back”. This is how payroll direct deposits work and this is how these govt transactions work.

A bank can’t give access because the funds could still be pulled back by the originator until... you guessed it, the 17th.

All that being set aside, banks are overloaded with cash after all the money the govt printed over the past year and the state of the economy being such that not a ton of commercial lending is going on. My Bank doesn’t need money AT ALL to the extent we’re letting funds run off... if CDs come due and someone can get a better rate that’s fine we them go.

As much as I hate banks that are “too big to fail” this is, as per the usual, much ado about nothing.

nope...........

mine was deposited the 12th...........

Bob H in NH: I agree with your indignation at the gimmee, gimmee, gimmee attitude of many folks but I disagree with your contention that this money is FREE!
It ain't.
It's gonna be paid back plus the interest going to the chi-coms and the main beneficiaries of this gigantic fraud are the states of kalifornicationkopia, new york, and the other demonrat schithole illinois!
That is what burns me up.
This whole thing is sad.
America is spiraling downward faster and faster every year.
Hold into the wind
VarmintGuy

Once again Polesmoker, you swing and miss.

I disagree. The stimulus isn’t intended to stimulate, any more than the affordable care act was intended to make healthcare more affordable.

The COVID Relief Package was meant as camouflage for political kick-backs with just enough crumbs allowed to fall to the ground for the media to be able to keep low information idiots quiet.

Reading a bio of Calvin Coolidge, the last real Big-C Conservative in the White House who said, “It is much more important to kill bad bills than to pass good ones.”

So right!

The government stole the money from my check in the first place, now giving it back is a handout?

Bingo...

Couldn't have said it better.

Two things. First, how many people who didn't get it taken from their paycheck (like the OP) are getting a check? That's a handout.

Second, if you make more than an arbitrary amount of money you generally pay more in taxes but don't get a check. If you're in that category then yes, everyone else getting checks is a handout.

Edwards: swing this.

^^^^

This, exactly.

There is no such thing as "government money".

Wish people would stop believing that schit and putting that phrase in print. It's OUR money, passed to them.