Stimulus check going to my closed bank account?

The place my last stimulus check was sent is a bank that was over-drafted a few dollars for over 30 days, so they closed out my account.
I called the bank and they said that it’s in a sort of Limbo and that I should still receive the funds (Minus the small overdraft I had) to the account, but I’ll have to manually remove the funds as cash and I can then open a new account with them immediately, if I wish to do so.
I wasn’t sure if this were true or not though. Does this sound right to anyone? I’ve kind of been stressing about losing out on this, as I’ve also moved and I don’t remember if that was listed on my return last year or not, so I don’t know if a check would be sent to the wrong address.

 

ANSWER 1

This process varies from bank to bank. If your bank said this, then that’s the best info you have. Everyone here can only answer based on their own institutions’ policies and that won’t really help you.

https://www.irs.gov/coronavirus/get-my-payment

This is the IRS website to update bank account information. It’s currently offline, but should come back up once the payment legislation is finalized. You can change the account to your new account and bank.

Bank auditor here – if the account is open, the deposit with hit and you’ll be left with an amount minus the fees you owe to them.

If it’s closed they’ll return the deposit to the government and the government sends you a check. It will not come from the bank.

Your mail will be forwarded if you’ve done that with the post office.

That’s what confuses me.
She said she wasn’t sure, so she had to ask her collections department.
They said that it would hit the “closed” account and then it’ll let me withdraw the remaining balance.

The account is closed, but she can still see the balance and everything.

I’m on the same boat. Closed out an account I no longer use which my previous stimulus check went. I’m wondering what happens or where you can request to update that info. If the account is fully closed, IRS will attempt to deposit, it will get rejected and then you will receive a paper check, likely much later since that process from the bank and then the IRS dealing with the upcoming tax season rush they deal with.

 

ANSWER 2

I am guessing that is possible, but it would really depend on each individual bank’s policies on how they are handling this situation. I know that at our bank, before stimulus checks, any funds that the bank received via ACH that tried to be applied to a closed/block account would either be returned back to the sender (when account was closed), or would end up in a sub-ledger under the branch where the account was located (when account was blocked). However, in a post-COVID, post-stimulus check world, I could see banks changing their policies on how they handle situations like this to try and avoid having to return the funds back to the source, at least for stimulus checks specifically.

 

If your account was recently closed the process at the bank I work at would include sending in maintenance paperwork to the deposit operations department and they would’ve able to reopen the original account with a cash deposit. There would be no need to open another new account unless there was some sort of fraud and the old account was compromised. If your account is overdrafted or charged off we would accept the ACH and subtract out the fees owed. Depending on your relationship with the bank you would still be able to keep your account open. If you’re someone who doesn’t communicate with us or at least try to keep your account in good standing then we would more than likely let you take the remaining funds and close the account.

 

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