- President Joe Biden signed the $1.9 trillion stimulus package Thursday.
- By Friday, $1,400 stimulus checks had already landed 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.
The latest round of stimulus checks has already landed in thousands of people’s bank accounts as of Friday, according to The Wall Street Journal.
The $1,400 checks are the latest round of direct payments delivered to Americans since the coronavirus began about one year ago.
Treasury Department officials said earlier Friday that people should expect checks to start arriving this weekend after President Joe Biden signed the Democrats’ $1.9 trillion stimulus package on Thursday.
Officials said the payments would be delivered over the coming weeks, with most through direct deposit, Politico reported.
The banking app Current told The Journal it had already processed thousands of stimulus deposits. Chime, another banking app, said on Twitter it had 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, with the government saying the official payment date is March 17.
The IRS told Politico paper checks and prepaid debit cards will also be sent out by the end of the month to people whose banking information it does not have on file.
The latest round of checks is larger than the two previous rounds, and is worth a total of $411 billion, The Journal reported.