Refund Issues
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Level 2

Refund Issues

I am a former CPA and Tax Professional and have been using Turbo Tax for over 10 years with no issues.

This year i filed on April 7th and asked that my fees be deducted from my refund (big mistake!).

Although it took the IRS until July 20th to process my refund i was expecting it to be direct deposited to my bank (my account information is accurate - checked multiple times).

Subsequently i discovered that SBTPG was the intermediary bank that was to receive my deposit, deduct the fees and deposit to my account.  I also found that SBTPG had my account "on hold" for unusual activity (no explanation about what that was).  I've spent the last 2 days attempting to resolve with SBTPG either via phone (contact number is simply an auto "spin cycle" with no information) or website (after inputting my information the site says my info is "not eligible".  I dont know what that means.  I find no information about next steps.  This service is horrible and i wont be using Turbo Tax again.

2 Replies
Level 15

Refund Issues

TurboTax is not a bank and by law cannot process refunds to pay the service charge.   SBTPG is a bank that almost ALL self-prepared tax software companies use to process refunds, not just TurboTax.

 

As a regulated bank, SBTPG must adhere to banking regulations.    If you have a problem with SBTPG then you should call them directly.    TurboTax representatives have no access to SBTPG accounts.

 

See:

https://ttlc.intuit.com/community/refund-status/help/why-is-my-federal-refund-on-hold-with-santa-bar...

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
Level 15

Refund Issues

and FYI - did you notice there is an extra Extra $40 Refund Processing Service charge (45 in California) to have the fees deducted from your refund?

 

What is the Pay with Refund Processing Service

https://ttlc.intuit.com/community/choosing-a-product/help/what-is-refund-processing-service/00/25889

 

 

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