While we do not know when additional stimulus payments will hit specific customer accounts, Arvest wants to assure customers we will do our part to facilitate these payments as we receive them from the Internal Revenue Service (IRS).
This IRS website provides the most accurate and detailed information regarding this round of payments – including payment types, eligibility, distribution and amounts – as well as a tool to track your payments.
Cherokee Nation Payments
As part of the American Rescue Plan Act the Cherokee Nation is receiving $1.8 billion in COVID-19 recovery funds. As a result, per the Cherokee Nation website, Principal Chief Chuck Hoskin Jr. and Deputy Chief Bryan Warner’s proposed spending plan for the funds will provide every Cherokee citizen with a total of $2,000 in direct relief assistance.
Arvest has begun receiving and processing some of these payments, which carry this description: Cherokee Nation Chase PYMT.
More detailed information, including application instructions and a set of Frequently Asked Questions can be found here on the Cherokee Nation website.
Child Tax Credit Payments
As part of the American Rescue Plan Act enacted in March, millions of U.S. families will be eligible to begin receiving monthly Child Tax Credit advance payments starting July 15 and ending in December.
The IRS will use these payments – scheduled for July 15, Aug. 13, Sept. 15, Oct. 15, Nov. 15 and Dec. 15 – to provide half the total credit amount in 2021. The remaining half can be claimed by filing a 2021 income tax return.
The description customers can expect to see on their account for these payments is: CHILDCTC. Please know these changes apply to tax year 2021 only and the IRS is the best source for more program details.
As a reminder, customers can be prepared to know when a deposit or credit hits your account by setting up an alert in the Arvest Go mobile app and/or Arvest Online Banking with BlueIQ™. Learn how with these helpful videos.
Here are some additional ways to monitor your account for deposits and other activity:
For customers who receive a check, please keep in mind:
- Arvest will cash stimulus checks for customers only
- Customers can deposit checks at many of our ATMs or via Arvest Mobile Check Deposit, if eligible. Watch this video for instructions on how to use mobile check deposit.
Thank you for being an Arvest customer. We are here to serve you.