- President Joe Biden on Thursday signed the $ 1.9 billion stimulus package.
- By Friday, there were already $ 1,400 stimulus checks in people’s bank accounts.
- More direct deposits, physical checks and prepaid debit cards will be sent out in the coming weeks.
- See more stories on Insider’s business page.
According to The Wall Street Journal, the last round of stimulus checks ended up in thousands of people’s bank accounts on Friday.
The $ 1,400 checks are the last round of direct payments made to Americans since the coronavirus began about a year ago.
Treasury officials said earlier Friday that people should expect checks to begin arriving this weekend after President Joe Biden signed the Democrats’ $ 1.9 billion stimulus package on Thursday.
Officials said the payments would be delivered over the coming weeks, with most by direct deposit, Politico reported.
The banking app Current told The Journal he has already processed thousands of stimulus deposits. Chime, another banking app, said Twitter it has already delivered $ 600 million in stimulus payments to 250,000 accounts.
More rounds of direct deposits are expected to go out in the coming weeks, and the government says the official payment date is March 17.
The IRS told Politico that checks and prepaid debit cards would also be sent to people whose bank information did not contain it by the end of the month.
The latest check rounds are larger than the previous two rounds and are worth a total of $ 411 billion, reports The Journal.