The federal government has begun distributing $600 stimulus checks to hundreds of thousands of Individuals. However truly gaining access to that cash could also be one other story.At the same time as file numbers of Individuals spent months unemployed amid the coronavirus pandemic, Congress took months to conform to ship out one other spherical of stimulus checks and increase unemployment advantages after the final aid bundle expired. Thousands and thousands of Individuals suffered throughout that point, and, as The New York Occasions reviews, typically needed to overdraw from their financial institution accounts to pay for groceries and different necessities. In return, banks charged these folks overdraft charges, and have typically locked folks out of their accounts till these charges are paid.Which means the $600 stimulus checks, which the federal government continuously deposits instantly into financial institution accounts, could possibly be out of attain for the individuals who want them most. That features Morgan Banke, who advised the Occasions she has solely been capable of pay both her hire or automobile insurance coverage each month, and has overdrawn from her Iowa credit score union to cowl the remainder. She requested the credit score union to quickly waive her charges so she might use the stimulus cash, however as a result of it had achieved so 3 times prior to now, it turned her down.Many main banks — Financial institution of America, Citigroup, JPMorgan Chase, and Wells Fargo amongst them — have mentioned they will waive accounts’ overdrawn standing when the checks are available. However many regional banks and credit score unions have not made the identical guarantees, and have even closed down accounts with overdrawn balances, leaving Individuals to get their checks one other, slower means. Learn extra at The New York Occasions.Extra tales from theweek.com 5 cartoons in regards to the finish of a really, very dangerous yr ‘Irritated’ Trump will skip his Mar-a-Lago New 12 months’s Eve celebration Are pandemic aid checks making UBI inevitable?