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Financial Health
April 16, 2020

Wells Fargo helps recipients access COVID-19 stimulus payments

The company shares how to deposit and access the money quickly as the U.S. begins making Economic Impact Payments under the CARES Act.

With millions of Americans out of work because of the COVID‑19 pandemic, Wells Fargo is helping stimulus payment recipients access the money as quickly as possible.

The company:

  • Created an online resource to help answer customer questions about the payments.
  • Deployed a team focused exclusively on processing stimulus payments.
  • Increased mobile deposit daily and rolling 30-day limits for most customers to provide more convenience to customers depositing paper checks.
  • Increased daily withdrawal limits at its ATMs.
  • Will pause for 30 days the collection of negative balances existing in a Wells Fargo deposit account at the time when a stimulus payment is deposited.
  • Will cash stimulus payment checks for non-customers in bank branches, with no fees charged.
  • Continues to accommodate all customers who request assistance with fees on their checking and savings accounts.
Wells Fargo CEO of Consumer & Small Business Banking and Interim CEO of Consumer Lending Mary Mack wears a blue jacket and white blouse, and smiles
Mary Mack
“As individuals and families face economic hardships due to the impact of COVID-19, Wells Fargo is committed to providing easy, safe, and secure access to the CARES Act stimulus relief.” — Mary Mack, CEO of Consumer and Small Business Banking and interim CEO of Consumer Lending

About 1 in 5 of those eligible to receive the new Economic Impact Payments, or EIPs, from the government under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) are Wells Fargo customers.

The Treasury Department will put the money into qualified recipients’ bank accounts or mail them a paper check (if they did not file taxes or give the IRS their direct deposit information in the last two years).

The first of several waves of relief payments began April 15, 2020, with direct deposits and paper check mailings continuing for several weeks.

For most customers, Wells Fargo has increased daily and rolling 30-day mobile deposit limits and ATM withdrawal limits. Customers will also have access to up to $2,500 immediately for deposited stimulus checks, including those submitted through mobile deposit (subject to a customer’s earlier account activity and the customer’s daily and 30-day mobile deposit limits). Also, most customers are able withdraw up to $710 from the ATM daily (subject to a customer’s earlier ATM withdrawal activity).

Taxpayers who did not include direct deposit information on their 2018 and 2019 returns can use the IRS's new Get My Payment portal to provide that information so the government can make more stimulus payments through direct deposit and avoid delays.

The actions are part of the comprehensive steps Wells Fargo has taken to help customers, employees, and communities dealing with the COVID‑19 pandemic and its effects.

“As individuals and families face economic hardships due to the impact of COVID‑19, Wells Fargo is committed to providing easy, safe, and secure access to the CARES Act stimulus relief,” said Mary Mack, CEO of Consumer and Small Business Banking and interim CEO of Consumer Lending.

“We’ll do our part to make sure everyone we serve who is receiving these payments can access them as soon as possible.”

It’s the fourth time since 2001 that the government has issued stimulus checks.

Key to-dos for CARES Act payments

Determine if you qualify. Check the EIP Information Center on IRS.gov to determine eligibility and payment amounts.

Learn how you’ll receive your payment. If you receive your tax refund through direct deposit, the IRS reports you will get your stimulus payment the same way. If you receive your tax refunds by check, or if you have not filed taxes, you’ll get the check in the mail.

Read the FAQ on wellsfargo.com. Get answers to common questions about the payments on Wells Fargo’s COVID‑19 resource center.

A man in the foreground holds a cup of coffee in one hand and looks at his smartphone in the other while a woman in the background looks at her laptop.

Set alerts for your EIP funds. Set a deposit alert1 on your checking or savings account through Wells Fargo Online® and learn by text message or email when the stimulus money is there.

Enroll in Wells Fargo Online® and download the Wells Fargo Mobile® app. Use the Wells Fargo Mobile®2 app’s built-in check deposit feature and access other digital banking options.

After you receive your money

Use the Wells Fargo Mobile® app mobile deposit feature. Built into the Wells Fargo Mobile appmobile deposit2 allows you to deposit your stimulus check, if you receive one by mail, from home at any time.

Check the branch locator. If you need to cash your government check, use the branch locator to find the nearest ATM and check the latest hours and services.

Pay digitally. Enter debit and credit cards into your digital wallet of choice so you can use your phone to pay, minimizing the touching of surfaces.

Move money. Send and receive money with friends and family with Zelle®3 without going to the bank, and use Wells Fargo Online to move money between accounts and pay bills.

Beware of scams. Don’t share passwords, account numbers, or personal financial information with anyone by phone, as coronavirus phishing scams are on the rise. You do not need to sign up to receive your stimulus check. Wells Fargo and the IRS will not contact you to confirm confidential personal or account details. Ignore any suspicious requests, and do not click on any links or open any attachments.

Visit wellsfargo.com/coronavirus for the latest Wells Fargo COVID‑19 updates, including customer service options and tips to begin using the company’s online banking and mobile banking features.


1Sign up may be required. Availability may be affected by your mobile carrier’s coverage area. Your mobile carrier’s message and data rates may apply.

2Some accounts are not eligible for mobile deposit. Availability may be affected by your mobile carrier’s coverage area. Your mobile carrier’s message and data rates may apply.

3Transactions typically occur in minutes when the recipient’s email address or U.S. mobile number is already enrolled with Zelle. Available to almost anyone with a U.S.-based bank account. For your protection, Zelle should only be used for sending money to friends, family, or others you know and trust. Sending money with Zelle is similar to making a payment in cash. Your mobile carrier’s message and data rates may apply.

Zelle and the Zelle related marks are wholly owned by Early Warning Services, LLC and are used herein under license.

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