This week, the third monthly payment of the increased Child Tax Credit (CTC) will be deposited into accounts. But can green dot receive the deposit?
Last month’s check arrived on August 13 for those who have direct deposit, or shortly thereafter for those who rely on the U.S. postal system. The payment for this month will be issued on September 15.
Child Tax Credit & green dot
Your child tax credit funds can be deposited on your Greendot card.
To be able to get your funds to your Green Dot account, you must have already filed your 2020 tax refund and have set up direct deposit to your account, and you are eligible.
If you haven’t filed your 2020 taxes yet, the IRS will utilize the most recent direct deposit information on file.
Families are free to spend their Child Tax Credit funds anyway they see fit. This implies that the extra $250 or $300 per child may be used toward necessities such as food or rent.
Democratic lawmakers want to prolong the advance credit until 2025.