Interest Checks

Consumers credit union ccu offers several rate levels in the rewards checking account.

Interest checks. The interest refund checks aren t necessarily a big windfall of money in your pocket but you can still make the most of the extra cash. The more hurdles you clear the higher your rate. The irs is set to send out interest checks as well as stimulus checks to some 2020 taxpayers. Interest bearing checking accounts give you a small return every month for the balance in your account.

Find out if you ll get one. The direct deposits will be made in the same account as the person s refund while the checks will be marked with int amount to identify them as interest payments according to the release. Angela lang cnet if you filed your taxes after april 15 there might be extra money coming your way from the irs in the form of an interest check. Some accounts pay a flat interest rate regardless of your balance while others pay more on.

The irs is sending out more checks this year. Taxpayers shouldn t make big spending plans for the interest checks as they will only average about 18 according to the irs. However ccu caps the high interest balance limit at a relatively low 10 000. Interest checking accounts available from banks and credit unions incorporate key features from both of these account types.

The irs announced it would send interest payments this week to about 13 9 million taxpayers who filed. Depending on when you filed your taxes some more money could be coming your way. The irs might send you an interest check in 2020. The interest payments will be deposited to taxpayers who filed their tax return by this year s july 15 deadline and either received a refund in the past three months or will receive a refund.