A picture of a Wells Fargo bank next to a tweet venting about the slowness of the bank processing coronavirus stimulus checks.

Mike Mozart/Flickr (CC-BY) @UptownDCRich/Twitter

Wells Fargo raked for dragging its feet on depositing people’s stimulus checks

Wells Fargo and Chase said eligible Americans can expect seeing the checks on Wednesday.

Mar 15, 2021, 10:30 am*

Tech

 

Andrew Wyrich

People online are venting their frustration at Wells Fargo and other banks for saying they will not receive direct deposits of their coronavirus stimulus checks until later this week.

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Last week, President Joe Biden signed a coronavirus relief bill that will send $1,400 stimulus checks to eligible Americans.

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The White House said that people would begin getting their checks as soon as the weekend—and it looks like many people did receive the payment. The Wall Street Journal also reported late last week that some citizens have begun getting the stimulus payments.

But many Wells Fargo and JP Morgan Chase customers have noticed they are not among those who have seen the money hit their bank accounts. Given the hardships many Americans have felt during the pandemic, it’s not shocking people are hoping for the payments to reach them as soon as possible.

Both Wells Fargo and JP Morgan Chase say on their websites that eligible customers will begin getting the payments in the middle of this week.

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“We expect most of the electronic payments to be available as soon as Wednesday, March 17, 2021,” Chase’s website reads.

“Wells Fargo will process all of the direct deposits according to the effective date provided by the U.S. Treasury,” Wells Fargo’s website says.

The IRS says the official payment date is March 17, according to USA Today.

Both of the major banks tried to communicate to customers about the March 17 date on Twitter over the weekend, but people were quick to vent about the perceived slowness of getting their $1,400 checks.

“Not like I’m waiting for this to pay my bills,” one Twitter user replied to Wells Fargo.

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“Thank goodness I closed my WF bank account and switched to a new bank. I have access to my stimulus funds as soon as they hit my bank. WF keeps and uses the funds until the 17th. Shame on them for exploiting their customers at a time like this,” another user replied to the bank.

Chase wasn’t immune from the venting either.

“bro????? tf some people got their money last night and the SOONEST I get mine is next week,” a user tweeted at Chase.

“Ugh, explains why it’s not in my bank yet. You would think these stimulus payments would be given unique priority considering their importance but apparently nah,” another person wrote.

In the meantime, the IRS has launched a “Get My Payment” feature on its website where eligible Americans can check on the status of their stimulus check.

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*First Published: Mar 15, 2021, 10:07 am