As part of the COVID-related Tax Relief Act of 2020, additional stimulus payments have been approved. The payments are $600 per person plus $600 for eligible dependents under the age of 17.
If your 2019 Adjusted Gross Income (AGI) is above $75,000 Single, $112,500 Head of Household (HH), or $150,000 Married Filing Jointly (MFJ), then your payment will be reduced. You can see your AGI on line 8b of your Form 1040.
Payments are supposed to be issued by 1/15/2021.
If you do not get your payment, and you are eligible based on your 2020 income, you will get your stimulus payment on your 2020 tax return.
If your bank account info has changed, then you will get a paper check or you will have to claim the credit on your 2020 tax return. I am not aware of any ability to change your bank information with the IRS prior to the payment being issued.
(Section 6428A of the Act)