Economic Impact Payments

Important Information if you’re receiving a Stimulus Payment

At Xceed, if accounts are overdrawn, deposits are usually automatically applied to cover negative balances. However, we are committed to ensuring you have full access to your CARES Act stimulus funds. Please contact us at 800.XFCU.222 (800.932.8222) if you have questions or need further information on how we can assist you. 

Xceed is here to help. We care about your well-being and we hope that you and your loved ones are safe during the COVID-19 crisis. We know that these are difficult and unprecedented times, and we understand that you may have concerns about your finances. Xceed is committed to helping you, providing assistance, access, products, and the resources you need if you have been financially impacted by COVID-19.

Federal relief includes the CARES Act Economic Impact Payment (Stimulus Check) that you may be entitled to. The first round of Economic Impact Payments via direct deposit have already started posting to accounts and will continue over the next several weeks. Payments by check have started, but this payment process may take months.

Below are some key points about the Economic Impact Payments. For more information and regular updates, including details on your payment status and payment type, visit the IRS website.

Am I eligible for the Economic Impact Payment and if so, what amount should I expect?

Not everyone is eligible for this payment. Here’s what you can expect based on your financial situation:

• Single taxpayers making $75,000 or less will receive $1,200
• Married couples with no children earning $150,000 or less will receive a total of $2,400
• $500 will be paid in addition for every qualifying child age 16 or under

Single filers with income exceeding $99,000 and $198,000 for joint filers with no children will not qualify for the Economic Impact Payment. Eligible taxpayers who filed tax returns for either 2019 or 2018 and meet the income requirements will automatically receive the payment. For more information and details on eligibility, visit the IRS website.

When can I expect my payment?

As mentioned above, the first round of Economic Impact Payments via direct deposit have already started posting to accounts and will continue over the next several weeks. If you have previously filed your taxes electronically and provided the IRS with your direct deposit information, you may have already received your payment. Paper checks are being issued, but please note that it may take months to receive the check. The IRS web portal offers you the opportunity to add your direct deposit information if your check has not yet been mailed. Visit the IRS website for more information.

Please note that the IRS is sending Economic Impact Payments in waves. Not all members will receive their payments at the same time. Xceed is not informed on where your stimulus check is and when you will receive it. Xceed will post your payment to your account as soon as it becomes available.

How will the IRS know where to send my payment?

The IRS is automatically calculating and sending the Economic Impact Payment to those who are eligible. Calculations will be made using your 2019 tax return for those who have already filed them, and 2018 tax returns for those who have not yet filed their 2019 return. The Economic Impact (stimulus) check will be sent using the same delivery method and account that was used for your last tax return; whether that be direct deposit or through a physical check in the mail. Again, for more information and updates, visit

Be aware of scams! The IRS will not call you asking to verify payment details and information. Do NOT give out your account information. Any email, text or social media post directing members to provide their personal information to receive the funds is a scam!

How can I deposit my Economic Impact Payment check?

If you receive a paper check, you must sign the back. Then you can:

• Use the Xceed mobile app (easiest and safest way!)
• Deposit the check at an Xceed ATM that accepts deposits
• Deposit using the night drop service (where available)
• Call your local financial center and speak with an associate

I have not filed my tax return for 2018 or 2019. Can I still receive a payment?

Yes. The IRS urges anyone with a tax filing obligation who has not yet filed a tax return for 2018 or 2019 to file as soon as they can to receive an economic impact payment. Taxpayers should include direct deposit banking information on the return.

What if I need more help?

We know these are difficult times, and that’s why we’ve put together the Xceed Assistance Program. Qualified members can receive relief loans, mortgage assistance, credit card payment deferrals, waived fees and so much more. For full program details, important links, and the most up-to-date information, visit

For more information on the Economic Impact Payments, please visit

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