HARRISBURG — The Department of Banking and Securities (DoBS) is providing recommendations for Pennsylvanians receiving their stimulus checks, known as an economic impact payment, in paper check form instead of direct deposit. The payments are part of the federal CARES Act (Coronavirus Aid, Relief, and Economic Security Act). The department also is reminding licensees of limitations on fees for cashing government checks.

Economic impact payments are specifically defined as a “Government Check” in the law that regulates check cashers in Pennsylvania. For any consumer that uses a licensed check casher or a registered retail check casher (e.g. grocery store) to cash this check, a maximum fee of 1.5 percent of the value of the check may be assessed. For example, on a $1,200 check, the maximum allowed fee is $18. A consumer would receive cash in the amount of $1,182.

To be sure that the establishment is properly licensed or registered consumers can search on the NMLS Consumer Access website or call 1-800-PA-BANKS.

If an establishment cashes a Government Check and charges more than 1.5 percent, contact DoBS immediately by calling 1-800-PA-BANKS or visiting the website at dobs.pa.gov. It is important that people retain records of the transaction including a receipt.

“Consumers should remain vigilant about various coronavirus scams,” said Acting Secretary Richard Vague. “No government official will call you to confirm bank account information or your Social Security number. Never give out personal information if you did not initiate the phone call.”

For more detailed information related to financial scams and tips for protecting oneself, DoBS has developed a financial scams guide.

Learn more about COVID-19 information and guidance for financial Institutions and consumers from DoBS. Anyone can contact DoBS at 1-800-PA-BANKS or 1-800-600-0007 to ask questions or file complaints about financial transactions, companies, or products.