We know you might have questions about Economic Impact Payments (EIP) and what they mean for you, and we want to share as much as we know about the program to help keep you informed.
We also encourage you to visit IRS.gov for the latest information about the payments, including answers to questions about eligibility, payment amounts, what to expect, when to expect it and more. We will also continue to monitor and update our resources.
In March 2021, Congress passed and the President signed legislation the American Rescue Plan Act of 2021 that authorizes the IRS to begin issuing additional Economic Impact Payments (EIP), (also known as "stimulus" funds), to eligible individuals.
The Internal Revenue Service (IRS) is responsible for issuing Economic Impact Payments. We encourage you to visit IRS.gov/coronavirus for the latest information on eligibility and individual benefit payments.
We encourage you to visit IRS.gov/coronavirus for eligibility details.
According to the IRS, there is no action required by eligible individuals to receive this Economic Impact Payment. Some may see the direct deposit payments as pending or as provisional payments in their accounts before their official payment date.
The IRS has a Get My Payment application on IRS.gov/coronavirus to check your payment status.
According to the IRS, they will use the data already in their systems from your previous tax returns and the previous rounds of Economic Impact Payments to send the new stimulus. Taxpayers with direct deposit information on file will receive the payment that way. For those without current direct deposit information on file, they will receive the payment as a check or debit card in the mail. We encourage you to visit the Get My Payment application on IRS.gov/GetMyPayment to check the status of your Economic Impact Payment.
Funds from Economic Impact Payments made through direct deposit will be available for customers to access on the effective date, as long as the account is open and there are no restrictions on the account.
We encourage you to visit the Get My Payment application on IRS.gov/GetMyPayment to check the status of your Economic Impact Payment.
We know the Economic Impact Payment can be a lifeline for many during these unprecedented times, and we want to ensure that our customers have full access to this money. Customers whose accounts are overdrawn at the time of their Economic Impact Payment deposit will receive a temporary credit equal to that of their overdrawn balance. This measure will help to ensure that those most in need can access the full benefit of these payments.
For Capital One checking account customers, if you deposit your Economic Impact Payment (EIP) check into your account via branch, our mobile app (Mobile Remote Deposit Capture) or a Capital One ATM, it will typically take one business day for funds to be made available. In some scenarios, funds may take longer than one business day to be available.
Capital One customers have a few options on how to deposit a check while banking safely during the COVID-19 pandemic.
We encourage you to visit IRS.gov for more information about Economic Impact Payments sent via prepaid debit cards.
Start by downloading the Capital One Mobile app by texting MOBILE to 80101 and signing up for online banking. Set up automatic alerts to monitor activity on your account.
We are committed to making check deposits through the Capital One Mobile app as convenient as possible. We encourage customers who have reached their deposit limit, or are looking to deposit a check beyond the mobile deposit limit, to reach out so we can find a solution. Please visit our Contact page to get in touch with us.
We encourage you to visit IRS.gov for the latest information on program eligibility and individual benefit payments.
We encourage you to use Capital One online or mobile banking to check your transaction history. The payment will appear as “IRS TREAS 310” or something similar in your transaction history. You can visit the Get My Payment application on IRS.gov/GetMyPayment to check the status of your Economic Impact Payment.
Once your Economic Impact Payment is deposited in your account, you can use it however you like. If you have a 360 Checking account, you can use your debit card for purchases and at 70,000+ fee-free Capital One and partner ATMs nationwide. You can also use your funds to set up online bill payments, or send money to enrolled family and friends using Zelle® in the Capital One Mobile app.
These emails and phone calls are not from Capital One and customers should be mindful of phishing emails and calls concerning or taking advantage of the Coronavirus (COVID-19) situation.
Phishing is an attempt to acquire personal information, sometimes to compromise online banking accounts, by posing as a legitimate company via email or phone.
If you believe a phone call could be phishing, hang up and, if you are concerned about your account, contact us directly.
If you believe you have received a fraudulent email that claims to be from Capital One:
Last Updated 3/14/2021