Why most banks are waiting until March 17 to process stimulus checks (FILE) (Source: wafb) By CJ Paschall | March 15, 2021 at 5:30 PM EDT - Updated March 15 at 8:46 PM CHARLOTTESVILLE, Va. (WVIR) - If you have not gotten your stimulus check yet, you are not alone. The differences between why some have already gotten the $1,400 payment and why some are still waiting comes down to your bank and delivery method. The new payments have an effective date of March 17, according to the U.S. Department of the Treasury. It’s an automated payment, and the Internal Revenue Service has already sent the banks the information for them.