Government Stimulus Payments Can Be Deposited Directly Into PayPal Accounts

The company was also approved by the Small Business Administration to take part in the Paycheck Protection Program

PayPal detailed two initiatives related to the coronavirus pandemic: One aimed at helping customers tap into their government stimulus payments, and the second to provide access to small business loans through the Small Business Administration Paycheck Protection Program.

The payments platform said in a blog post that users who don’t already have a PayPal Cash Card can apply for one by logging into their account via the application or online.

Once this is done, the account number and routing number for the PayPal Cash Card, listed in users’ settings under Direct Deposit, can be entered into the IRS portal to receive the stimulus payment.

PayPal said in its blog post that it is working with the Treasury Department to create more ways for people to get their stimulus payments into their PayPal accounts, adding, “Using PayPal Direct Deposit to send your payment to your PayPal Cash Plus account is free.



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