News What if I qualify for the $ 1,200 check...

What if I qualify for the $ 1,200 check and do not have a bank account?

The Department of Finance is prioritizing direct deposit to disburse the federal incentive of $ 1,200 to citizens, but What about those who do not have a bank account?

According to the agency, in this case Individuals should wait for the direct deposit phases to complete and the check would be mailed to the address they report to the government.

Currently, the Treasury is in part two of phase 1 of the disbursement of the money that corresponds to the taxpayers who filed the 2019 return, but who did not include their bank information. For that, the agency enabled the portal pagodeimpactoeconó, in which citizens can place their data to receive the money.

Phase two, which is expected to start in mid-May, will correspond to the taxpayers who filed the 2018 return, while phase 3 that would start at the end of this month, includes people who are not required to file a return.

This phase also includes the beneficiaries of the Nutritional Assistance Program (PAN), those who do not generate any type of income, as well as those who receive Social Security, unemployment, retirement and disability benefits, or veterans benefits, among others. All these citizens, whether they have a bank account or not, will have to put their information on an electronic link that the agency has not yet enabled.

After this, the Treasury would send the money by post, but the disbursement date is uncertain.

If a person decides to create a bank account, what should they do?

In the event that a person decides to create a bank account to receive the money in a faster way and is not obliged to file a return, they must wait for the Treasury to open a portal in which people will place their personal and bank information.

Meanwhile, if it is a taxpayer who filed the 2018 or 2019 return, you must enter the link pagoimpactoeconó to report your data.

What information does the Treasury require for direct deposit?

In order to make direct deposit of the federal incentive, the Treasury requires the taxpayer’s routing number, account number and account type.

This information can be obtained at the bottom by checks, account statements or with the same financial institution.

On the other hand, it is important to note that if the bank information is incorrect, the Treasury may decide to send the check by postal mail to the address registered with the agency when the direct deposit phases end.



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