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Millions of Americans are looking for their second stimulus payment. Some may have to wait a little longer than others. Here are some frequently asked questions that may help ease your mind as you wait for your payment.

How much will I get?

Right now, your second stimulus check will be for $600, plus $600 for each child age 16 or younger. This means that a family of four could receive a payment of $2,400. If your 2019 adjusted gross income is $75,000 or less for single filers and $150,000 or less for married couples filing joint returns, you'll generally receive the full amount of your second stimulus check.

Those with incomes higher than $75,000 will receive a prorated amount until the cut-off income of $87,000, if they have no dependents. For couples, the full benefit will apply to those earning up to $150,000 and will taper off as their income approaches $174,000. 

When will I get it?

The Internal Revenue Service (IRS) announced on Tuesday, December 29, 2020 that a direct deposit payment could already be in your bank account. Electronic payments will then continue into next week. However, please note that you could see a direct deposit payment as pending or as a provisional payment in your account before the official payment date of January 4, 2021. 

As of January 5, 2021, the IRS has indicated that because of the speed at which it issued the second round of payments, some payments may have been sent to an account that may be closed or no longer active. By law, the financial institution must return the payment to the IRS; they cannot hold and issue the payment to an individual when the account is no longer active.

While the IRS is exploring options to correct these payments, the IRS advises those who have not received their full payment by the time they file their 2020 taxes that they may claim the Recovery Rebate Credit on their tax return. The credit is figured like the Economic Impact Payment, except that the credit eligibility and the credit amount are based on the 2020 tax year information, including income. More information can be found at

To check the status of your payment, visit the IRS's online tool, Get My Payment. This site should give your payment status and payment type. Note that the portal will not allow recipients to input any bank account information as it did during the first round of stimulus payments.

How will I receive my payment?

If you don't receive a direct deposit by early January, watch your mail for either a paper check or a debit card. The IRS started to mail paper checks on Wednesday, December 30, 2020. To speed up delivery, a limited number of people will receive their second stimulus payment by debit card.

But the form of payment for your second stimulus check may be different than your first payment. Some people who received a paper check last time might receive a debit card this time, and some people who received a debit card last time could receive a paper check.

The debit cards will be issued by MetaBank, and they will arrive in a white envelope that prominently displays the U.S. Treasury Department's seal. The Visa name will be on the front of the card, and it will say 'MetaBank' on the back. More information about these cards is available at


Can I get notified when my stimulus deposit has been made?

Yes! F&M Bank makes it easy for our clients to stay up to date on important financial transactions and personal events. To sign up for our email and text alerts so that you know immediately when your deposit has been made, simply log into Online Banking, select the “Options” tab and then “Alerts”. Next, choose the exact alerts you want to receive.

What if I closed the bank account I used for my last federal tax return?

If a direct deposit is rejected (e.g., if the bank account information is incorrect), the IRS will receive a rejection notice. At that point, the payment will be converted to a paper check and mailed to you.

When will the funds be available in my account if I am receiving a direct deposit?

As soon as we receive deposit transfers from the government, we will post them to your account immediately. We won’t hold back your stimulus deposit for any reason.

Where can I get more help?

To learn how to look at your account online or via the F&M Bank mobile app, check out our online and mobile banking resources.

If you’d rather check your account by phone with our Telebanking service, call 704-637-9922 for account history 24 hours a day, 7 days a week, toll-free.

To deposit your check from anywhere, anytime, learn more about F&M Bank's mobile deposit feature and apply today

If you still have additional questions, please feel free to contact your personal banker or your favorite branch.