List of Banks and Credit Unions Offering COVID-19 Relief

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Updated on Wednesday, August 12, 2020

Millions of Americans are struggling with changes to their work hours and incomes. In response, many banks and credit unions are offering relief packages, often waiving certain fees or granting expedited services. Although not listed below, community banks may offer an even stronger support system to those financially impacted.

We will continue to update this page regularly.

List of banks and credit unions offering relief to customers affected by COVID-19

Alliant Credit Union

  • Waives ATM fees
  • Waives overdraft/NSF fees
  • Waives excessive transaction fees
  • Waives early CD withdrawal penalty

Alliant Credit Union does not currently have a COVID-related information page available on its website. However, according to an Alliant representative, the credit union is working with members on a case-by-case basis to remove deposit-related account fees.

Ally Bank

  • Waives ATM fees
  • Waives overdraft/NSF fees
  • Waives excessive transaction fees
  • Waives early CD withdrawal penalty

Online-only Ally Bank has scaled back its COVID-19 relief plan. Ally Bank deposits customers can benefit from refunded excessive transaction fees on savings or money market accounts.

Transfers and online payments remain uninterrupted. Plus, Ally Bank has made it faster to deposit checks of $50,000 or less online with Ally eCheck deposit. You can still use mobile deposit via the Ally Mobile app.

American Express

  • Waives ATM fees
  • Waives overdraft/NSF fees
  • Waives excessive transaction fees
  • Waives early CD withdrawal penalty

American Express has not released any specific COVID-19 relief plans to help its Personal Savings banking customers at this time.

Customers of the online-only bank can continue to access their accounts online. They can also call customer service at 1-800-446-6307 — just beware that wait times may be longer than usual.

Bank of America

  • Waives ATM fees
  • Waives overdraft/NSF fees
  • Waives excessive transaction fees
  • Waives early CD withdrawal penalty

Bank of America’s COVID-19 response is to urge customers who are facing financial hardship to contact a representative to request refunds for fees on overdrafts, non-sufficient funds and monthly maintenance. Customers may also use the bank’s virtual assistant, Erica, to get answers to any questions, including those that are coronavirus-related.

Bank of America also encourages its customers to turn to mobile and online banking first, both of which allow you to check your account status, pay bills and deposit checks.

Many Bank of America financial centers are temporarily closed, while others operate at reduced hours or alternate days of operation. Those that remain open may have longer reported wait times. It helps to check a Bank of America financial center’s hours or confirm which branches offer drive-thru ATMs or tellers or video conferencing. Branches have “enhanced, daily cleanings” and “other measures to limit the risk of exposure, based on guidelines from the Centers for Disease Control and Prevention (CDC).”

BBVA

  • Waives ATM fees
  • Waives overdraft/NSF fees
  • Waives excessive transaction fees
  • Waives early CD withdrawal penalty

BBVA has dialed back its relief offerings related to COVID-19 hardship. Banking customers can request overdraft fee refunds by calling 1-844-228-1872.

Select BBVA locations are reopening lobbies with provided hand sanitizer, signage and floor markers for social distancing, plexiglass shields and enhanced cleaning. No more than five customers at a time are allowed inside a branch, and BBVA bankers will wear masks and gloves. The bank asks that customers wear masks, and use the drive-thru if experiencing symptoms or believe they have been exposed to the coronavirus.

Banking center lobbies that have not fully reopened may still be accessed via appointment by calling your banker or banking center. BBVA Online Banking and the BBVA Mobile Banking App are also available to you 24/7.

BMO Harris

  • Waives ATM fees
  • Waives overdraft/NSF fees
  • Waives excessive transaction fees
  • Waives early CD withdrawal penalty

Under its financial relief program, BMO Harris asks deposit account customers with questions about account fees to send them a message. Customers can expect a response within 2 business days.

You can also call the bank’s Customer Contact Center at 1-888-340-2265. If you need assistance with your credit card account — whether to report a lost or stolen debit card, activate a debit card or reset your BMO Digital Banking password — bankers are available 24/7.

Select BMO branches are reopening by appointment only, while drive-up service remains available at most branches.

Capital One

  • Waives ATM fees
  • Waives overdraft/NSF fees
  • Waives excessive transaction fees
  • Waives early CD withdrawal penalty

In response to the coronavirus pandemic, Capital One is waiving its out-of-network ATM fee. It won’t reimburse you for a third-party surcharge, though.

If you are facing financial difficulties, you can contact Capital One and a representative can help to find a solution for you. Note that customer service wait times are likely longer than usual right now.

Capital One has temporarily closed select branches that do not have drive-thru tellers or protective glass at teller counters. Branches that do have those features will remain open via those outlets and are being disinfected per CDC guidelines. Tellers may still assist customers in the lobby in special circumstances. Capital One ATMs remain open 24/7. Capital One also strongly encourages its customers to use the Capital One mobile app or online banking to make payments, check balances and deposit checks.

Charles Schwab

  • Waives ATM fees
  • Waives overdraft/NSF fees
  • Waives excessive transaction fees
  • Waives early CD withdrawal penalty

Charles Schwab has no specific measures in place to provide relief aid to its banking customers amid the coronavirus outbreak.

Schwab branches are temporarily closed and will remain so until local, state and federal government recommendations indicate it is safe to reopen. Still, you can contact a branch directly by phone to reach a representative. Schwab also encourages customers to go digital by completing tasks online or via its mobile app, which includes check-depositing capabilities.

Chase

  • Waives ATM fees
  • Waives overdraft/NSF fees
  • Waives excessive transaction fees
  • Waives early CD withdrawal penalty

In light of the pandemic, Chase Bank customers are encouraged to use the Chase Mobile app and online banking to complete their account-related tasks. Chase asks that those who need help because of COVID-19 reach out to a representative, though you may experience wait times that are longer than usual.

Most Chase branches are now open during normal business hours although you may want to check a branch’s status online or on the Chase Mobile app. Chase branches and ATMs are being cleaned with EPA-approved disinfectants and branches now include plexiglass dividers and hand sanitizer. Chase asks customers to wear masks, maintain six feet of distance and stay home if you’ve been in contact with someone with COVID-19 or are feeling sick.

On a wider scale, JPMorgan Chase pledged $50 million to nonprofit organizations to help support “healthcare, food and other humanitarian relief” efforts globally; community partners; and small businesses in the U.S., China and Europe.

Citibank

  • Waives ATM fees
  • Waives overdraft/NSF fees
  • Waives excessive transaction fees
  • Waives early CD withdrawal penalty

Citibank is waiving fees for monthly account service, safe deposit boxes and non-Citi ATM usage, as well as CD early withdrawal penalties.

Citibank also asks that those affected by COVID-19 contact the bank for assistance, although wait times may be longer than usual. If you already work with a personal banker or financial advisor through Citibank, you can contact them directly during their regular business hours. You can also text “App” to 692-484 to avoid call wait times and Citi will direct you to its digital tools or automated response system or send you a link to message a representative in the Citi Mobile App.

Select Citibank branches are closed and those that are open are operating under temporarily limited hours and undergoing “daily cleaning procedures … on high-touch surfaces,” providing hand sanitizer and practicing CDC recommendations like social distancing. You can also access your accounts and funds via the Citi Mobile app, the Citibank website and Citi ATMs on a 24/7 basis.

Citizens Access

  • Waives ATM fees
  • Waives overdraft/NSF fees
  • Waives excessive transaction fees
  • Waives early CD withdrawal penalty

Citizens Accessis waiving its early withdrawal penalties on all CD products to provide more flexibility to CD customers. If you close a CD account online, Citizens Access will rebate the penalty that applies automatically.

Citizens Access encourages customers to contact its Customer Care team through a a secure message through your online account or by calling a representative at 1-888-201-6505, available Monday through Friday from 8 a.m. to 10 p.m.; Saturday from 9 a.m. to 3 p.m.; and Sunday from 10 a.m. to 3 p.m. EST. You can expect a secure message response within one to three days; wait times on the phone will also be longer.

As Citizens Access has no physical branches, you can always access your account online, both on desktop and your mobile browser. The bank does not have a mobile app.

Citizens Bank

  • Waives ATM fees
  • Waives overdraft/NSF fees
  • Waives excessive transaction fees
  • Waives early CD withdrawal penalty

Citizens Bank deposit account customers can expect overdraft fee waivers, service charge reversal and penalty-free early CD withdrawals, as part of the bank’s COVID-19 relief response. Customers with checking, savings and CD accounts can call customer service at 1-800-922-9999 Monday through Friday from 7:00 a.m. to 10:00 p.m. and Saturday and Sunday from 9:00 a.m. to 6:00 p.m. local time. If you want to open a new account over the phone, you can call 1-877-360-2472.

Citizens Bank branches remain open, but hours may vary by state and region. Branches now have enhanced maintenance and cleaning practices.

Digital Federal Credit Union (DCU)

  • Waives ATM fees
  • Waives overdraft/NSF fees
  • Waives excessive transaction fees
  • Waives early CD withdrawal penalty

Digital Federal Credit Union offers an extensive financial relief program, which is available to its members in any financial rut, not just during this pandemic. Until further notice, DCU is offering unlimited ATM fee reimbursements and forgoing all overdraft and nonsufficient funds fees. Those who need to borrow money during this time may take out a personal loan from DCU, which won’t require payments for 60 days on loans opened after March 25, 2020.

All DCU branch lobbies are open by appointment only, though some branches remain open through their drive-up teller windows, which can help you with normal transactions and are open at normal hours. You can check your branch status and hours here.

Otherwise, you can access your account 24/7 via online banking and the DCU mobile app. You can also send an email for non-urgent requests, which are typically answered in two business days, or you can call customer service, though it is currently experiencing extremely high call volumes that may result in much longer wait times.

Discover

  • Waives ATM fees
  • Waives overdraft/NSF fees
  • Waives excessive transaction fees
  • Waives early CD withdrawal penalty

Discover has “support in place for qualified Discover customers who experience hardship” due to the coronavirus pandemic. Although it is unclear what qualifies customers to receive this support, a Discover representative adds that “Discover customers may receive assistance related to payments, fees and interest.”

Discover Online Banking customers can call 1-800-347-7000 (TTY/TDD 1-800-347-7454) any time to reach a Discover representative for assistance. You also can continue to access your accounts online or via the Discover mobile app.

Fifth Third Bank

  • Waives ATM fees
  • Waives overdraft/NSF fees
  • Waives excessive transaction fees
  • Waives early CD withdrawal penalty

Fifth Third Bank deposit account customers can request hardship assistance through online banking or by calling 1-800-972-3030 during business hours.

Fifth Third branches are reopening; you can check your branch’s status here. Fifth Third will implement enhanced cleaning and safety measures including clear panels at teller lines, floor markers, fewer teller lines and masks on employees. Fifth Third also asks that you bring your government-issued photo ID when visiting a branch.

You can still schedule a phone or in-branch appointment or visit a branch’s drive-thru window for simple transactions. For most other services, like checking balances or ACH transfers, you can use the bank’s website or mobile app.

Marcus by Goldman Sachs

  • Waives ATM fees
  • Waives overdraft/NSF fees
  • Waives excessive transaction fees
  • Waives early CD withdrawal penalty

Customers of Marcus by Goldman Sachs can make penalty-free withdrawals from regular CDs at this time, as a direct response to COVID-19. You can do so by calling 1-855-730-7283. Marcus contact centers are operating virtually, with temporary hours of 9 a.m. to 6 p.m. ET Monday through Friday and 9 a.m. to 6 p.m. ET on Saturday and Sunday.

You can still access your Marcus accounts online. Apple device users can also benefit from the Marcus mobile app.

KeyBank

  • Waives ATM fees
  • Waives overdraft/NSF fees
  • Waives excessive transaction fees
  • Waives early CD withdrawal penalty

Select KeyBank customers “may be eligible for immediate help,”which can include “waiving certain service charges on KeyBank checking and savings accounts.”

Almost all KeyBank branches have reopened. Customers who are age 65 or older or have a health condition are asked to contact a branch to set up an appointment for in-branch banking. Branches will have hand sanitizer, plexiglass barriers at teller windows and desks, floor markers for social distancing and masks on team members. KeyBank also asks customers to wear masks as well.

You can always access your accounts online and through KeyBank’s mobile app, which KeyBank encourages you use if you are experiencing COVID-19 symptoms. You can also call KeyBank’s 24/7 customer service line at 1-800-539-2968, though be aware that there are currently longer hold times than usual.

The KeyBank Foundation has also made an initial $1 million commitment to “support vulnerable individuals, small businesses and neighborhoods.”

Navy Federal Credit Union

  • Waives ATM fees
  • Waives overdraft/NSF fees
  • Waives excessive transaction fees
  • Waives early CD withdrawal penalty

During this time, Navy Federal Credit Union members can withdraw from certificates before maturity without penalty; deposit up to $50,000 per day via mobile deposit; and withdraw up to $1,000 per day from non-Navy Federal ATMs (the $1,000 daily limit on Navy Federal ATMs remains).

Members can also take advantage of the credit union’s OOPS overdraft protection for all checking accounts, which offers no fee on overdraft transactions of less than $5 and caps overdraft charges at three per day. Members with OOPS can request a refund for the $20 overdraft fee charged and for non-sufficient fund (NSF) fees by sending a secure message through your account.

Most Navy Federal branches have reopened, and select branches open an hour early every Wednesday for high-risk and senior customers. All Navy Federal members are required to wear a face covering inside a branch. Branches have increased disinfectant and social distancing practices in place. You can check the status of your local branch here or on the Navy Federal Mobile app, where you can also find accessible ATMs.

PenFed Credit Union

  • Waives ATM fees
  • Waives overdraft/NSF fees
  • Waives excessive transaction fees
  • Waives early CD withdrawal penalty

PenFed Credit Union is not offering specific relief measures for its deposit account members in response to the COVID-19 crisis.

Select PenFed financial centers are temporarily closed, while others are operating on adjusted hours. Saturday drive-thru service at open financial centers only includes everyday financial transactions like cash withdrawals and loan payments.

PenFed encourages customers to contact their local branch for information about updated hours and services, which you can also check online on the bank’s locations page and COVID-19 information page. You also can access your accounts for several services online and on the PenFed mobile app.

PNC Bank

  • Waives ATM fees
  • Waives overdraft/NSF fees
  • Waives excessive transaction fees
  • Waives early CD withdrawal penalty

PNC Bankcustomers who are experiencing financial hardship as a result of COVID-19 should call 1-888-762-2265, which is available 7 a.m. to 5 p.m. ET Monday through Friday and 8 a.m. to 5 p.m. ET on Saturday and Sunday. Virtual Wallet customers may call 1-800-352-2255, available during the same hours.

If you are eligible for assistance, a PNC representative will discuss your options with you, which include waiving or refunding fees on deposit accounts (and other products). Qualified customers can also take out an emergency hardship loan “at a low rate.” PNC did not make it clear how it determines eligibility for assistance, but it stressed that customers should call for help.

Select PNC branches remain open with limited hours and access, while others are open by appointment only. Drive-up window services are also in service where available. Open branches will have clear panels at teller lines and in offices, floor markers and heightened cleaning processes. Customers are required to wear a face covering when visiting a PNC branch.

You can use PNC’s branch locator to check the status of a branch and to find a branch that offers essential appointments, made available for safe deposit box access, loan closings or other banking services that you cannot make otherwise. PNC is also still widely accessible via online, mobile and voice banking.

State Employees’ Credit Union

  • Waives ATM fees
  • Waives overdraft/NSF fees
  • Waives excessive transaction fees
  • Waives early CD withdrawal penalty

State Employees’ Credit Uniondoes not have specific relief plans in place for its deposit account customers, although its loan customers can seek assistance in light of the coronavirus pandemic. Members can contact a representative through a secure message when logged into their account, by calling your local branch or by calling 24/7 Member Services at 888-732-8562 to “discuss how they can help.” Note that Member Services is experiencing high call volumes between 10 a.m. and 8 p.m. every day.

SECU branches are back open for in-person service, although the credit union encourages members to continue to use drive-thru, online, mobile and telephone services when possible. SECU will limit the number of individuals allowed in a branch at one time and will require both employees and members wear a face covering while in a branch. Branches also have floor markings for social distancing, acrylic shields, sanitizer, gloves and regularly scheduled cleaning.

TD Bank

  • Waives ATM fees
  • Waives overdraft/NSF fees
  • Waives excessive transaction fees
  • Waives early CD withdrawal penalty

TD Bank encourages customers affected by COVID-19 to call 1-888-751-9000 to see how the bank can support you as it says it “may be able to provide some financial relief.” Of course, wait times are uncharacteristically long at this time.

Assistance options offered by TD Bank will depend on your situation and request but may include fee refunds, early, penalty-free access to CDs and payment extensions. The bank’s customer assistance offers continue to evolve as well, according to a bank representative.

Most TD Bank branchesare expanding their hours, as well as services at drive-thrus. Branches will have virtual check-in, which will require you to wait outside or in your car until it’s your turn. Branches will also allow fewer customers in the store at a time, social distancing stickers, plexiglass screens, hand sanitizer and required face coverings for both workers and customers.

TD Bank ATMs are still accessible, as is its website and banking app.

TIAA Bank

  • Waives ATM fees
  • Waives overdraft/NSF fees
  • Waives excessive transaction fees
  • Waives early CD withdrawal penalty

TIAA Bank has ended its coronavirus relief response for its deposit account customers.

TIAA Bank financial centers have all moved to drive-thru tellers only. Those that don’t have a drive-thru window will see clients through appointment only. You can set up an appointment by calling your local financial center.

You may also easily manage your TIAA Bank accounts online and through the TIAA mobile app. To speak with a representative, banking customers may call 1-888-882-3837 from 8 a.m. to 11 p.m. EST, although wait times are abnormally long.

Truist (formerly BB&T and SunTrust)

  • Waives ATM fees
  • Waives overdraft/NSF fees
  • Waives excessive transaction fees
  • Waives early CD withdrawal penalty

Truist, the result of a recent merger between BB&T and SunTrust, does not offer any relief related to its deposit accounts.

For further assistance, Truist encourages heritage BB&T clients to call 1-800-226-5228 and heritage SunTrust clients to call 1-877-820-2103. Watch out for long wait times, however, which customers have reported on social media.

Local BB&T and SunTrust branch hours and services are temporarily moving to drive-thru teller services only, appointment-only in-person visits and select branch closures. Customers still have 24/7 access to ATMs as well as online, mobile and telephone banking.

Truist has also established a $25 million Truist Cares initiative, which will provide funding to the CDC Foundation and Johns Hopkins Medicine; local United Way organizations; and grants to Truist’s community partners.

U.S. Bank

  • Waives ATM fees
  • Waives overdraft/NSF fees
  • Waives excessive transaction fees
  • Waives early CD withdrawal penalty

U.S. Bank has suspended fees related to excessive withdrawals. Deposits customers who have been financially affected by COVID-19 should call the bank at 1-888-287-7817 for assistance.

U.S. Bank branch operations are temporarily reduced, and the bank encourages customers to use drive-up windows instead of going inside a branch. If you do visit a U.S. Bank branch, which you should not do if you are experiencing COVID-19 symptoms, you must wear a mask and maintain social distancing. U.S. Bank is limiting the number of customers permitted in a branch at one time.

You can check your local branch’s hours and status online. Otherwise, you can still access your U.S. Bank accounts on the bank’s mobile app, by phone or on its website.

Wells Fargo

  • Waives ATM fees
  • Waives overdraft/NSF fees
  • Waives excessive transaction fees
  • Waives early CD withdrawal penalty

Wells Fargo has said it will offer fee waivers for customers who contact the company. On a larger scale, the Wells Fargo Foundation has pledged up to $6.25 million in donations “to support domestic and global response to the COVID-19 and to aid public health relief efforts.” This includes funding “at the local level,” as well as for the national CDC and the International Medical Corps.

Wells Fargo branches are cautiously reopening with adjusted hours and safety practices. The bank suggests you make an appointment if you want to see a banker to avoid longer wait times. Wells Fargo also requires customers to wear a face covering when visiting a branch and asks that customers do not visit a branch or office if you are sick or have been exposed to COVID-19. Wells Fargo call centers still remain open, though they are experiencing higher-than-normal call volume and longer wait times.

You can also access your accounts online and on the Wells Fargo Mobile app, where you can deposit checks, move money and more. Wells Fargo also reminds customers that they can use contactless cards or digital wallets for payments.

Additional bank and federal advisories for customers

The Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Association (NCUA) have temporarily extended unlimited insurance. Thanks to the CARES Act, your bank and credit union deposits are wholly insured through Dec. 31, 2020. Typically, an individual is covered up to $250,000 per account type, with increased FDIC insurance for joint ownership or beneficiaries. This temporary extension means you don’t have to worry about losing any of your money in a checking, savings, CD or money market account in the event of a bank or credit union failure.

The Federal Reserve has temporarily amended Regulation D to allow for more than six withdrawals from savings accounts. One way that Regulation D differentiates savings accounts from checking accounts is by limiting savings accounts to six “convenient” transfers per month. This includes pre-authorized and automatic transfers; telephone transfers; and withdrawals and transfers made by check, debit card or a similar method. For now, you don’t have to worry about this limitation.

Less “convenient” transfers which are not included in that otherwise limited category are those made in person at the bank, by mail, at an ATM or over the phone when you receive the withdrawal via a check in the mail.

Typically, going over the “convenient” transfers limit would result in an excessive transaction fee charged by the bank. With the Fed’s latest change, your bank may also waive their excessive transaction fees as further COVID-19 relief.

Many institutions are warning customers about keeping their information and money safe from fraudsters. Unfortunately, scams and phishing attempts are cropping up to take advantage of this crisis. Be wary of phone calls, emails and texts from suspicious senders who ask for personal or account information, and avoid clicking on links in emails and texts. When in doubt, head to your institution’s official website to verify your bank’s contact information, or log into your account to access its secure messaging system.

Government relief and the Coronavirus Aid, Relief, and Economic Security (CARES) Act

American taxpayers and business owners may also get some relief from the U.S. government’s $2 trillion financial relief package, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law in late March.
Find out how you can benefit from the relief package below.

One-time stimulus checks

Taxpayers’ long-awaited direct payments, or recovery rebates, will be determined by their most recent tax return. For many, this will be your 2019 tax return, since we have yet to file taxes for 2020. If you have not yet filed your 2019 tax return, the government will turn to your 2018 return instead.

How much you’ll get: For individuals, the plan will provide one-time direct payments of $1,200 ($2,400 for joint returns) to those with an annual income of $75,000 or less. Payments will decrease incrementally for those who made more than $75,000 and will stop altogether for individuals who earned more than $99,000. Individuals will also receive an additional $500 per child. You can use our stimulus check calculator to determine your payment amount.

What to do to get your stimulus check: For most taxpayers, there’s no need to sign up. All you need is a valid Social Security number to receive these relief rebates. Depending on what you requested on your tax return, the IRS will send the payment either via direct deposit or a paper check.

  • If you receive Social Security retirement, Social Security Disability Insurance or Railroad Retirement benefits, the IRS will use the information on your 1099 Social Security forms (Form SSA-1099 or Form RRB-1099) to determine your payments. Individuals who qualify with these forms will only receive additional payments for dependents at this time if they registered their dependents via the IRS’ Non-Filers: Enter Payment Info tool by April 22, 2020. Otherwise, the additional $500 payment per eligible dependent will be paid in association with your tax filing for tax year 2020.
  • Other eligible U.S. citizens or permanent residents may use the IRS’ Non-Filers: Enter Payment Info tool. You can use this tool to submit your most recent banking information to the IRS for faster payment. You are eligible to use this tool if you had a gross income of $12,200 or less ($24,400 for married couples) for 2019 and were not required to file, nor planned to file, a federal income tax return for 2019. You will have to submit your current mailing address, an email address and valid Social Security number, in addition to other personal and identifying information.
  • Supplemental Security Income (SSI) recipients and veterans who receive veterans disability compensation, pension or survivor benefits from the Department of Veterans Affairs, and who did not file a tax return for either 2018 or 2019, may also use the Non-Filers: Enter Payment Info tool, as these groups are not yet automatically eligible for economic impact payments.

When the stimulus checks will arrive: The IRS began sending out payments the week of April 13, 2020. You can expect your payment to come sooner if you have direct deposit set up on your tax return or submitted your bank account information via the Non-Filers: Enter Payment Info tool.

You can track your payment with the IRS Get My Payment tool. This tool indicates the status of your payment, including the date your payment is scheduled to be direct deposited or mailed. Get My Payment will also provide eligible individuals a chance to submit their bank account information for direct deposit. If your check has already been scheduled for delivery, this feature will not work, so it’s best to take advantage of it as soon as possible

Fastest ways to get your stimulus check: The fastest way to get your stimulus check is via direct deposit to your bank account from the IRS. If your address or bank account information has changed since 2018, file your 2019 tax return as soon as possible, if you haven’t already.

Taxpayers with prepaid accounts can also receive the government COVID-19 stimulus checks, thanks to the Consumer Financial Protection Bureau (CFPB) relaxing rules around the Electronic Fund Transfer Act (EFTA), which typically prohibits individuals from opening new accounts to receive government benefits. So if you have a prepaid account, you may want to provide the IRS with your account information via the Non-Filers: Enter Payment Info tool as soon as possible so you can receive your stimulus payment faster.

What to know about taxes and stimulus checks: These recovery rebates are considered advanced tax credits for 2020 and should not be taxed for most. Since the payment amounts are determined based on your previous tax returns, however, the payments could be subject to adjustment if you earned more or less this year compared to prior years.

For example, if you received too large of a rebate proportionate to your most recent income, you could end up owing back the excess. However, it is so far expected that taxpayers will not have to return or pay tax on any portion of these rebates, regardless of income changes. If you receive a payment that is too low, you also may be able to receive a tax credit from your 2020 taxes to make up the difference.

Expanded unemployment benefits

For starters, individuals who have found themselves unable to work as a result of COVID-19, including those who are sick, quarantined or taking care of family members, will be able to collect unemployment, extending those benefits beyond those who were fired or laid off.

The CARES Act has also included self-employed individuals under this provision, meaning freelancers, gig workers and contractors may also collect unemployment during this time. Also included are people seeking part-time work; workers whose unemployment benefits have run out already; clergy and employees of religious organizations; and individuals whose work history would not typically be sufficient.

The stimulus bill will also add $600 on top of existing unemployment benefits (currently averaging about $300 a week) for four months and extend unemployment insurance by 13 weeks. The bill will also ensure that workers maintain their full salaries if they lose their job due to the coronavirus pandemic.

This additional funding will come from the federal government rather than from states and employers, who typically fund unemployment benefits. Unemployment benefits are still taxable under current law, which the stimulus bill does not account for. So if you are able, you may want to elect for tax withholding now, so you don’t get hit with a big bill at tax time.

How to file for unemployment: Unemployment insurance is done by state, so you will file for unemployment in the state where you last worked. If you worked in multiple states, you can apply in any one of those states. You can check your state’s benefits and eligibility requirements here.

The fastest and safest way to apply for unemployment at this time is via your state’s unemployment website or over the phone. However, given that millions of Americans have recently found themselves unemployed, you may face unusually long wait times when contacting unemployment offices. Perhaps visit your state’s website during off hours.

When you file for unemployment, you’ll have to provide your personal information, including your name, contact information, Social Security number and bank account information, if you have one, for direct deposits. You will also have to provide information about your last place of employment, including your past employer’s name and contact information, the last date you worked, the reason you’re not working anymore and your previous earnings.

Some states may require you to “certify for benefits” on a weekly or bi-weekly basis, which requires you to prove your continued eligibility for unemployment benefits. This often includes showing that you are willing and able to work and that you are actively looking for employment. Some states may waive this requirement during this time.

Eased penalties around retirement account withdrawals

The bill also allows those affected by COVID-19 to withdraw up to $100,000 from qualified retirement accounts, including your 401(k) and IRAs, without facing the 10% early withdrawal penalty that typically applies when you make withdrawals when you are under the age of 59 ½. You will still have to pay income taxes on your withdrawals, though these taxes will now be due over the course of three years instead of immediately. Additionally, the bill waives required minimum distributions (RMDs) for select retirement plans for this year.

Qualified individuals include those who are diagnosed with COVID-19 or have a spouse or dependent who has been diagnosed with COVID-19, as well as those who have been laid off, quarantined, furloughed or faced reduced hours due to the pandemic. This applies through Dec. 31, 2020.

Even though the bill allows it, withdrawing from your retirement accounts before you’ve actually hit retirement is generally not the best plan — especially if you’re already close to retiring. By doing so, you run the high risk of hurting the nest egg that you’ve worked hard to build for retirement. Still, this may be the only source of money available to many right now.

Small business relief

The stimulus plan includes $425 billion for the Federal Reserve to leverage for emergency loans to distressed companies and $75 billion for industry-specific loans. Despite previous claims from President Trump that he alone would choose which businesses received aid, this lending system will fall under oversight by an inspector general and a congressionally-appointed panel.

The spending package also provides $350 billion that will go toward lending programs for small businesses, but only those that keep their payrolls steady through the crisis. There is also a reward for small businesses that keep their workers in the form of federally-guaranteed loans that will be forgiven if the employer continues to pay its workers throughout this time of crisis.

Additionally, the plan allocates $130 billion for hospitals and $150 billion for state and local governments.

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