Some Americans eligible for the economic stimulus checks in the wake of the coronavirus have begun receiving their payments, according to a report from The Wall Street Journal.
Mobile banking startup Current told The Wall Street Journal that about 10,000 accounts received stimulus payments from the Internal Revenue Service starting Friday afternoon.
"We just saw a bunch of the first wave, lots of $1,200 deposits," Stuart Sopp, chief executive of the New York startup, told WSJ.
According to data from the startup, most people received $1,200. Others received payments of up to $4,700 based on qualifications such as having children or other household factors.
The report comes after the U.S. Department of the Treasury and IRS announced the launch of the "Get My Payment" web application at IRS.gov.
Next week, taxpayers who filed their tax return in 2018 or 2019 but did not provide their banking information on their return will be able to add that info to get their Economic Impact Payments in their bank accounts rather than wait for checks in the mail. Taxpayers will also be able to check the status of their payment.
Current said Friday that it had started receiving the first government stimulus payments and is crediting them over to its customers immediately.
"We will continue to credit all accounts with stimulus transactions immediately as soon as we receive them over the coming weeks and months, so please continue to check your account balance in the app and know if you have not yet been credited, it is because we have not yet received your payment from the federal government," the company said in a statement on its website.
The Treasury has not given a specific time for when people can expect to receive paper stimulus checks. According to a memo obtained by The Associated Press earlier this month, some may not get checks until mid-August.
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