The latest monthly child tax credit payment is set to hit bank accounts via direct deposit, and through the mail today.

This is the second of six monthly installment payments which are part of the American Rescue Plan. The law increased the 2021 child tax credit from a maximum of $2,000 to up to $3,600, and allows families to receive 50% of their child tax credit between July 15 and Dec. 15.

Families with qualifying children can expect to receive up to $300 a month per child under the age of 6 and $250 per child ages 6 to 17.

The IRS disbursed the first monthly child tax credit payment to American families on July 15 and payments expire at the end of the year. While President Biden and some Democratic lawmakers have expressed interest in continuing the payments in 2022, there are no plans to continue the increased amount or the payment schedule beyond 2021.