Around 127 million stimulus checks worth $ 1,400 were sent. What we know about these payments
RgStudio | E + | Getty Images
According to the Treasury Department, IRS, and Bureau of the Fiscal Service, a second batch of stimulus payments totaling $ 1,400 has been sent, bringing the total number of checks issued to date to approximately 127 million for a total of approximately $ 325 billion .
The agencies announced that further tranches will be issued in the coming weeks. These payments are mostly made by direct deposit.
This new batch included roughly 37 million direct payments totaling nearly $ 83 billion.
More from Personal Finance:
Using deferred tax savings can help you get that $ 1,400 stimulus check
This ensures you don’t miss any of the $ 1,400 worth of stimulus checks in the mail
For unpaid personal debt, economic checks of $ 1,400 could be garnished
About 17 million of these payments were made by direct deposit. These checks, valued at more than $ 38 billion, went into use as of Friday March 19.
In addition, the second batch sent 15 million paper checks valued at approximately $ 34 billion and 5 million prepaid debit cards valued at approximately $ 11 billion.
These checks and debit cards also ran out on March 19th and will continue to be sent out for the coming weeks.
Most people don’t need to take any action to receive an incentive payment, the agencies said.