Your Guide To The Third Stimulus Payment

image with a dark green background with a hand holding a federal treasury check and white text on the background that reads your guide to the third round of stimulus payments

With the recent news of President Joe Biden signing the $1.9 trillion COVID-19 Economic Relief Package into law on Thursday, March 11th, we know you may have some questions regarding if you’re eligible for the third round of stimulus payments and when you’ll receive it.

Below, you’ll find the information we know so far regarding stimulus payments, including when you can expect to see your funds deposited.

Frequently Asked Questions

The bill calls for $1,400 payments per individual, or $2,800 for married couples, provided they fall under certain income thresholds, which are outlined below in the following question. As for children, there will also be up to an additional $1,400 for each dependent in the household.

To be eligible for the full $1,400, individuals must have an adjusted gross income (AGI) below $75,000. Married couples filing jointly must have an adjusted gross income under $150,000 to receive the full $2,800.

The payments are based on either 2019 or 2020 income, depending on when a taxpayer files their 2020 tax return.

The biggest difference in the latest round of stimulus checks is the change in dependent eligibility. Under the law, dependents stand to receive $1,400 each, which is more than twice the amount they qualified for in previous rounds. That means an eligible family of four would receive $5,600.

Unlike the previous two rounds, dependents over age 16 would be eligible for aid. That means parents or caretakers who claim a dependent on their taxes who is older than 16 would receive a check for $1,400 per dependent.

During the White House Briefing on Thursday, March 11, 2021, it was announced that people with direct deposit information could start seeing the stimulus payments deposited into their accounts as early as the weekend of March 13th with additional waves of payments to proceed in the following weeks.

The first people to receive the checks are likely those who have gave direct deposit information when they filed taxes for 2019 or 2020. This is due to the government already having their account information on file and not needing to go through the process of printing, sorting and mailing physical checks or pre-paid debit cards.

Unfortunately, not all taxpayers have direct deposit information on file with the IRS. While we do not have an estimated arrival time for paper checks or pre-paid debit cards at this time, we do know that those Americans will have to wait a minimum of a few weeks to receive funds, possibly even longer. 

PLEASE NOTE: If you receive a call or email soliciting bank information for your stimulus check, it’s spam. The government will never ask you to provide or verify personal information over the phone, email or social media.

This is dependent upon a lot of different factors as mentioned in previous questions and there’s not a one-size-fits-all answer. On Monday, March 15th President Biden pledged that over 100 million stimulus checks will be in people’s pockets in the next 10 days, which means the majority of eligible Americans.

As with previous stimulus rounds, the IRS has set-up a “Get My Payment” tool where you can check the status for your payment at any given time. Keep in mind, this tool is updated once per day, typically overnight.

Use Get My Payment Tool >

Here’s how to see if your stimulus is pending in your Honor account:

  1. Login to online banking or the mobile app
  2. Click on “My Accounts” and then “ACH Transactions”

Here you will be able to review any ACH deposits or withdrawals that are currently pending on your account in the next few days.

Note: If you do not have any pending ACH transactions, “ACH Transactions” will not appear as a selection in your account.

Yes! Here’s how to set up ACH Transaction alerts:

  1. Log in to online banking on a desktop or mobile browser
  2. Navigate to the Info Center tab
  3. Select eAlert subscriptions and ACH Transactions
  4. Adjust the settings to your preference and select where to receive your eAlert
  5. Verify your email, and click Add.

* Please Note: You must be signed up for text banking to receive eAlerts on mobile devices. 

Yes. You’re in luck! Using our new Instant Deposit feature, you can have early access to these funds within minutes – just pay a small early access fee of $10* and funds will be made immediately available. 

Click Here To Request Instant Deposit >

*There is no fee for a normal ACH direct deposit

This IRS offers an online Get My Payment tool that will allow you to track the status of your payment, including when and where it was sent, if previously disbursed. 

Use Get My Payment Tool >

As mentioned previously, the IRS has released an online Get My Payment tool that allows consumers to:

  • Check your payment status
  • Confirm your payment type: direct deposit or check
  • Enter your bank account information for direct deposit if we don’t have your direct deposit information and we haven’t sent your payment yet

Use Get My Payment Tool >

The IRS is urging taxpayers to be on the lookout for scam artists trying to use the stimulus payments as cover for schemes to steal personal information and money. Remember, the IRS will not call, text, or email you and will not contact you on social media asking for personal or bank account information – even related to the stimulus payments.

Also, watch out for emails with attachments or links claiming to have special information about stimulus payments or refunds.

More Honor Fraud Protection Info >

How To Access Your Direct Deposit Funds Early

As soon as you see your direct deposit stimulus payment pending in your account, you can gain early access to your funds for a small $10 fee (There is no fee for a normal direct deposit). Here’s what you need to know:

  1. Log in to online banking
  2. In the My Accounts tab select ACH Transactions
  3. Select the ACH transaction you wish to instantly deposit and click Post Now

screenshot image of honor credit union online banking showing how to request an instant deposit of an ach transaction

     4. Confirm your instant deposit request and select an account to have the $10 fee drawn from

screenshot image of honor credit union online banking showing how to request an instant deposit of an ach transaction

  1. Log in to the Honor mobile app
  2. Tap Accounts on the bottom menu, and then tap My Accounts
  3. Tap ACH Transactions
  4. Select the ACH transaction you wish to instantly deposit and tap Post Now

screenshot of the honor mobile app showing how to request an instant deposit

     5. Confirm your instant deposit request and select an account to have the $10 fee drawn from

screenshot of the honor mobile app showing how to request an instant deposit


More Instant Deposit Info

³$10 fee per instant deposit to gain early access to funds. No checking account required. Direct Deposit and earlier availability of funds are subject to the timing of payer’s funding, and credit union approval. Honor Credit Union cannot guarantee a payer’s funds will be available for instant deposit. Requests per each Direct Deposit must be made within online banking or by contacting the credit union. Insured By NCUA.

How To Deposit Paper Stimulus Checks Using Your Phone

If you receive a paper stimulus check in the mail and can’t make it to an Honor member center during normal business hours, don’t worry! You can deposit your check at any time using the Mobile Check Deposit tool in the Honor app. Here’s how:

  1. Download and log in to Honor’s mobile app
  2. Tap Move Money on the bottom menu, and then tap Deposit Check
  3. Follow the simple on-screen instructions to snap a picture of the front and back of the check, and that’s it. You’re done!

*Endorsing Your Check: To avoid any delay, please be sure to include “For HCU Mobile Deposit Only” when endorsing the check.

*Please Note: If it’s your first time using Mobile Check Deposit, on-screen instructions will guide you through the free enrollment process.

It doesn’t matter what time of day it is, your money should be in your account and available to you instantly, or within minutes (a potential review of the transaction might cause a brief delay in the availability of the funds).

While mobile check deposit is a convenient and easy way to deposit a check, if you need help enrolling or setting up mobile check deposit simply give us a call at 800.442.2800. To view answers to frequently asked questions about remote deposit capture, click here.

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