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Helping Families Receive Their Economic Impact Payment

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DISCLAIMER: As the COVID-19 public health situation evolves, new regulations are being continually issued. This page/story/information may not include the most recent information.

CFA’s goal is to provide as many tools and other partner offerings to you the consumers as much as possible to provide assistance during this difficult time. An additional option for many people right now is debt guidance. CFA is here if you want to review what options are available for you and your family, such as the FDIC options. We have other options as well but taking time out and setting up a budget and managing other financial areas is what we do. Ultimately by partnering with a credit counselor they will provide other areas for you, just like the one from FDIC.

The Federal Deposit Insurance Corporation (FDIC) is committed to supporting Americans during the coronavirus (COVID-19) health crisis. Since the start of the COVID-19 pandemic, the FDIC has been working to develop resources that will make it easier for consumers without a bank account to find a bank that can open an account online without going into a branch.  They have developed a new webpage which they launched last week dedicated to helping consumers get the information they need to receive economic impact payment (AKA stimulus check) electronically.

Based on what FDIC has available, Credit Advisors Foundation (CFA) wanted to highlight two resources on their new website: First, the webpage links directly to the Bank On Coalition’s list of banks that offer remote account opening with a $0 balance.  Second, the webpage also links to the American Banker Association’s list of banks that offer remote account opening all across the country (developed in response to the COVID-19 situation), along with additional resources for consumers.  If you decided to open an account with FDIC, they can then provide the information to the IRS to receive the payments electronically through the IRS portal.

Useful Links and Resources

Credit Advisors Foundation Counseling Home Page: http://www.creditadvisors.org

FDIC’s Receiving Economic Impact Payment Page: https://www.fdic.gov/coronavirus/economic-impact-payments/index.html

YouTube: https://www.youtube.com/watch?v=XdaKTinf0zY

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