According to the IRS.gov:
If the IRS has received your banking information, your payment will be sent to you as a direct deposit. We will use bank account information from the following sources, in the following order:
- Your 2020 tax return
- Your 2019 tax return, including information you entered into the Non-Filer tool on IRS.gov in 2020.
- A federal agency that provides you benefits, such as: Social Security Administration, Department of Veterans Affairs, or the Railroad Retirement Board.
If we do not have bank account information to issue you a direct deposit, we will send your advance Child Tax Credit payments by mail. We will issue Advance Child Tax Credit payments on July 15, Aug. 13, Sept. 15, Oct. 15, Nov. 15 and Dec. 15.
Please review the irs.gov website to keep up with changes. People's United Bank does not have information regarding your tax situation or form of benefits.
NOTE for acquired Customers: If your account number has changed due to an acquisition with People’s United Bank, as long as your account is still open, the payment will automatically be transferred to your new account that came over at the time of the acquisition.