At PayPal we know it’s important that you can access your funds quickly, easily and securely, especially during these unprecedented times. Yesterday, the IRS launched a new tool for people around the country who would like to receive their Economic Impact Payment digitally. This means you can elect to send your stimulus payment directly to your PayPal Cash Plus account using Direct Deposit in a few simple steps.
To receive your government stimulus payment through PayPal, you can apply for a PayPal Cash Card if you haven’t already. You can do this by logging into PayPal in the app or online. Once you have signed up, you can enter the account number and routing number listed in your PayPal Profile under Direct Deposit (you can find this in Settings in the PayPal account) in the IRS tool to receive your payment.
To receive your stimulus payment through PayPal, you will need to set up PayPal Cash Card with a PayPal Cash Plus account by following the below steps:
Using Direct Deposit to send your payment to your PayPal Cash Plus account is free. Plus, if you have already set up Direct Deposit to receive your latest federal income tax return through PayPal, you could receive your stimulus payment automatically. The stimulus payment should be transferred through PayPal in the same way. Refer to the IRS website for more details.
We’re also working with the U.S. Department of the Treasury to offer more ways to receive your stimulus payment through PayPal.