We hope that you remain healthy and safe as we endure this pandemic. COVID-19 has impacted everyone in our community in some way, but some financial relief is on the way. As individual economic impact payments from the CARES Act are distributed, we hope this serves as a helpful resource.
Electronic Deposit of Individual Economic Impact Payments
If you filed taxes in 2018 or 2019 and included your bank routing and account number for payments or refunds, and this information has not changed, the IRS has the information it needs to send your payment electronically.
If you file taxes, but the IRS does not have your direct deposit information, you can provide that online through the Get My Payment portal. This portal can also be utilized to check your payment status or confirm your payment type if you are unsure.
If you are not required to pay taxes, but want payment electronically deposited, you can sign up. The IRS and the U.S. Treasury launched this website where you can enter your information, including bank account details, to indicate where you would like your stimulus money deposited.
Paper Check Individual Economic Impact Payments
Social Security Recipients
The IRS will use direct deposit by the Social Security Administration to facilitate payments. If the direct deposit information you have provided in the past is for a bank-issued prepaid debit card, you will receive your funds on that card account.
As a reminder, the F&M Bank routing number is 051404419. To find your account number, please reference the bottom of your F&M Bank checks. It is the number listed directly beside the routing number we have included above.
Scams Related to Individual Economic Impact Payments
Although we are facing a pandemic, fraudsters are still at work. There will be a large amount of funds disbursed to qualifying individuals. Accordingly, there is a risk for fraud of various types. The IRS has announced various ways individuals can be on guard against these types of bad activities.
Do not provide any banking information to anyone claiming to be registering you for your relief payment. F&M Bank will never call, text or email you directly asking for personal information such as your account number. Even if your Caller ID indicates the call is from F&M Bank, it is better to be safe than sorry. Please, hang up immediately and call your local branch to inquire if the call was legitimate.