Economic Impact Payments

We're here to help answer your questions about Economic Impact Payments. 

On December 21, 2020, Congress passed a $900 billion economic relief package that will provide assistance to American consumers and businesses struggling as a result of the coronavirus pandemic. A key provision of the law includes a second round of government payments called Economic Impact Payments (EIPs), for those who meet certain eligibility criteria.



Latest Information from the IRS

Who is eligible to receive the Economic Impact Payments, or EIPs?

According to the IRS, U.S. citizens and resident aliens who are not eligible to be claimed as a dependent on someone else’s income tax return are eligible for this second payment.  Eligible individuals will automatically receive an Economic Impact Payment of up to $600 for individuals or $1,200 for married couples and up to $600 for each qualifying child.  Generally, if you have adjusted gross income for 2019 up to $75,000 for individuals and up to $150,000 for married couples filing joint returns and surviving spouses, you will receive the full amount of the second payment. For filers with income above those amounts, the payment amount is reduced. 

How and when will the stimulus payments be made by the IRS?

Based on the most current information the IRS has on file for those eligible to receive the federal stimulus:

  • For those receiving a direct deposit into their Liberty Bank account: The IRS has begun processing the direct deposit files.  You can expect this deposit to be posted to your account on Monday, January 4, 2021.
  • For those receiving a check in the mail: Checks started to be printed and mailed by the IRS on Wednesday, December 30, 2020.  The check you receive from the IRS will be dated January 6, 2021.
  • For those receiving a prepaid debit card in the mail: Prepaid debit cards are scheduled to be mailed by the IRS beginning on Monday, January 4, 2021.

To get more of your questions answered from the IRS, visit their website at irs.gov. You can also visit the U.S. Bureau of Financial Service.


Payment Information for Liberty Customers 

If I am eligible to receive an EIP and the IRS will deliver it to my account via direct deposit, when will I see it in my account?

Liberty customers who receive the stimulus payment will see it posted in their account by end of day on Monday, January 4, 2021.

If I receive a paper check from the IRS, how can I deposit my check?

To deposit the check you have multiple convenient options. Save yourself time and skip the line by utilizing our remote check deposit feature on our mobile app. Additionally, you can visit a Liberty Bank ATM to complete your deposit or utilize one of our branch locations and conduct your transaction via drive through banking.

Who can I call if I have additional questions?

Please visit irs.gov. It provides you all the information you need to know about the second round of stimulus. Our website will also be frequently updated with any additional information we receive from the IRS regarding the EIP payments.

Protect Yourself Against Scammers

Unfortunately, there are scammers who will prey on unsuspecting customers, particularly at times like these. Liberty Bank wants to provide you the information you need to always protect yourself against scammers. Learn more.


Convenient Banking Options

Convenient Banking Options

In lieu of visiting a branch, we encourage you to use our other convenient banking options available to you 24/7:

  • Utilize Liberty's Online Banking system. Enroll here.
  • Use or download the Liberty Bank Mobile App
  • Visit one of our conveniently-located ATMs.
  • Call LibertyLine Automated Telephone Banking at (800) 622-6732
  • Contact our Customer Service Center at (888) 570-0773 weekdays from 8:00 a.m. to 7:00 p.m. and Saturdays from 8:00 a.m. to 3:00 p.m.
 

Download the Mobile App

 

Apple

Google Play

Amazon Kindle

With Liberty Bank, you're going places. In this case, to a different website.

cancel continue

Disclaimer: Links to third party sites are provided for your convenience. These sites are not within the control of Liberty Bank and may not follow the same privacy, security, or accessibility standards as Liberty Bank. Liberty Bank does not warrant any offerings from the third party providers, nor is Liberty Bank responsible for the security, content or availability of any third party sites, or their partners.

Disclaimer: Links to third party sites are provided for your convenience. These sites are not within the control of Liberty Bank and may not follow the same privacy, security, or accessibility standards as Liberty Bank. By accessing the SmartLenders Program via the provided link, you acknowledge the SmartLenders Program is not under the control of Liberty Bank. Liberty Bank does not warrant or endorse any offerings from third party providers, nor is Liberty Bank responsible for the security, content or availability of any third party sites or their partners including SmartLenders or the lenders that may be accessed by you through your use of the SmartLenders Program (the “Lenders”). Under no circumstances will Liberty Bank be responsible for any damages arising from the transactions between you and any Lenders or for any information appearing on SmartLenders’ site. SmartLenders will provide Liberty Bank with the following information about your application: applicant name; type of company; email address; loan amount requested; and progress status toward approval and funding. Liberty Bank may use this information to monitor your experience with SmartLenders and market Liberty’s services to you.