The first round of $1,200 coronavirus stimulus checks have already started hitting Americans’ bank accounts

The first round of coronavirus stimulus checks started hitting people’s bank accounts Friday afternoon.

Some people have already received their coronavirus stimulus checks from the federal government, according to mobile banking startup Current.

The company told The Wall Street Journal that roughly 10,000 accounts received stimulus payments from the Internal Revenue Service starting Friday afternoon. The one-time payments are part of the government’s stimulus package meant to help Americans recover from the financial shock of coronavirus shutdowns.

Most people received $1,200 payments, the minimum amount, according to Current. Others, who qualified for more money because they have children or for other reasons, received payments of up to $4,700.

The IRS announced on Friday that people who already have direct deposit information on file from filing their taxes will receive payments in the coming week. Up to 70 million Americans will be paid by April 15, a Treasury spokesperson told The Washington Post.

For everyone else, paper checks will arrive by mail any time between now and early September.

New filers are urged to use a new IRS tool to submit their bank details in order to get their one-time payments as soon as possible.

Something is loading.

Read More