The Internal Revenue Service told financial institutions to expect roughly 90 million direct deposits amounting to $242.2 billion on March 17 in the initial distribution of the American Rescue Plan stimulus payments, according to a banking industry group.

Following the deposits, the IRS mailed an additional 150,000 checks amounting to $442 million, with a pay date of March 19, according to the Independent Community Bankers of America, based on a briefing from the IRS.

“Additional batches of payments will be sent in the coming weeks with the vast majority sent by direct deposit,” the group said in an online update to banking members. “Payments will also be sent through the mail as a check or debit card.”

Economic stimulus or economic relief: Here’s what we know about who might qualify for the next round of coronavirus checks and how much they’ll get. (Monica Rodman, Sarah Hashemi, Monica Akhtar/The Washington Post)

The American Rescue Plan provides a third round of direct stimulus payments, up to $1,400 for individuals, $2,800 for couples, and an additional $1,400 for each dependent regardless of age.

If you haven’t received your deposit, here’s some information that may help you figure out when your money will arrive and what to do if you get your funds on a prepaid debit card.\

What to know

  • Why could some people get access to their money earlier than March 17?
  • How can I track my stimulus payment?
  • Why does the ‘Get My Payment’ tool say ‘Payment Status Not Available?’
  • Why does the ‘Get My Payment’ tool give me a message that says ‘Need More Information?’
  • I was eligible for the full $1,400 based on my 2020 return, but I only received a partial direct deposit payment. What should I do?
  • What should I do if I didn’t get a direct deposit?