Update March 12, 2021: The Internal Revenue Service (IRS) and Treasury Department will begin delivering a third round of stimulus payments in the coming days.
Many payments will be automatically deposited. Woodforest will notify you via email when a stimulus payment has been deposited to your account.
Economic Impact (Stimulus) Payments
For many taxpayers who qualify, the third round of Economic Impact (Stimulus) Payments provided by the U.S. Government (IRS) will be automatically deposited and no further action is required. Payments should be sent using bank account information from your 2019 or 2020 tax returns or from other government benefits (i.e., Social Security retirement) or if you set up an automatic payment for the first round of stimulus payments. If you qualify but did not file a tax return or have not given the IRS your direct deposit account information in the last two years, those who qualify should either receive a U.S. Treasury check or a prepaid card.
The U.S. Treasury has indicated payments will be distributed in multiple phases and not everyone who qualifies for a refund will receive funds at the same time, therefore, Woodforest is unable to provide information on when your refund may arrive. We understand the IRS has begun sending direct payments and we expect some customers to have access to the funds as soon as March 16, 2021.
You can check on the status of your stimulus payment using the IRS's Get My Payment tool. Visit the IRS website for more information about qualifications, amounts, and receiving payments. Woodforest National Bank Routing Number information is available here.
If we are unable to deposit the stimulus payment (due to incorrect posting information on the IRS payment), we will return the funds to the U.S. Treasury. The U.S. Treasury may redirect the returned payment to you via check to the address they have on file. We encourage you to visit the IRS website and consult with your tax preparer for more information.
Woodforest has processed all the first and second stimulus payments received from the IRS and U.S. Treasury department. For more information on these payments, visit Economic Impact Payments | Internal Revenue Service.
Direct Deposit Payments:
Woodforest will send an email notice when a stimulus payment from the IRS appears in your account.
Monitor your account for the incoming payment using our Mobile Banking App or Online Banking system. The description of the deposit in your account will include the word "IRS."
Set up a direct deposit account alert in Online Banking to tell you when direct deposits post to your account.
Paper Check Payments:
Deposit your check using our Mobile Banking App.
Visit one of our locations to deposit or cash your check.
Accessing Funds:
Use your debit card to make purchases or withdraw cash from one of our ATMs.
From our Mobile Banking App, you can check your balance, transfer/send money and pay bills.
Non-customers may cash checks at our branch locations for a small fee (1% or $5 of the check amount, whichever is greater) or can open a new account.
Expect a longer wait time at our branch locations due to physical distancing and other safety measures in place to protect our clients and associates.
Small Business Paycheck Protection Program (PPP)
Woodforest understands the ongoing challenges facing small businesses today and our team continues to work alongside customers in our local communities to navigate the complexity of the Small Business Administration's (SBA) Paycheck Protection Program (PPP).
Congress has passed an extension to the PPP program. The PPP program now expires on May 31, 2021. Woodforest is processing applications promptly but has a current backlog. The SBA must approve all PPP loans and there can be a lengthy turnaround time for that process to be completed as well. For those reasons, we cannot guarantee loans applied for on time will be submitted to or approved by the SBA by the May 31 deadline.
Click Program Details for more information on First and Second Draw PPP loan applications and forgiveness. Woodforest remains dedicated to serving small businesses during this unprecedented time. Call us (toll-free) at (800) 685-6783 for questions or assistance.
With online banking and our mobile banking app, you can check balances, view transactions, make payments, and more. Download the Woodforest Mobile Banking App* if you haven't yet done so. With our mobile app you can access your accounts anytime, anywhere.*
*Mobile data rates may apply. See your carrier for details.
Toll-Free (877) 968-7962 (Mon - Sat 9 am - 5 pm CT)
You can contact us through Secure Messaging in online banking. Log in to online banking and select the "Messaging" tab.
For all other questions regarding your account, please visit our contact us page.
COVID-19 Cyber Security
Important Message: COVID-19 Cyber-Security Scams
The Department of Homeland Security's Cybersecurity and Infrastructure Security Agency (CISA) recently issued a Cyber Alert,(1) "Defending against COVID-19 Cyber Scams," reminding individuals to remain vigilant for scams related to COVID-19. Visit https://www.cisa.gov/coronavirus for more information from CISA.
The Internal Revenue Service (IRS) urges taxpayers to be on the lookout for scam artists trying to use the Economic Impact Payments (Stimulus Payments) as cover for schemes to steal personal information and money. Remember, the IRS will not call, text, email or contact you via social media asking for personal or bank account information – even related to the Economic Impact Payments. Visit https://www.irs.gov/coronavirus/economic-impact-payment-information-center for more information.
Email, Text, Social Media Scams
Be aware of cyber "actors" who have been sending emails containing malicious attachments and links to fraudulent websites to trick recipients into revealing sensitive information or donating to fraudulent charities or causes.
Customers should be wary about any email with a "COVID-19, Economic Impact Payment, Stimulus Payment” or related subject link, attachment or hyperlink. In addition, exercise caution on social media, in text, or if receiving calls containing pleas related to COVID-19.
If you receive a suspicious email or text message, do not respond, do not click on links, and do not open attachments.
Woodforest will never ask you for a debit card PIN, access code or online banking password.
Check Scams
The recently approved stimulus package will require that some payments be made by check to recipients. Please be aware of check scams.
The government (or your bank) will not call to ask for your Social Security number, bank account, credit card number, or any other personal private information.
The government will not ask you to pay anything upfront, such as a fee, to receive your money.
Any reports of money already available are not true. Be wary of anyone who tells you they can expedite or obtain a payment or loan for you.
