Do state or federal tax e-file (direct deposit) refunds get posted to the bank account at midnight on the day it's supposed to be available?

Forum|Forum|7 years ago
June 8, 2019
7 replies
5 views

No text available

TurboTax Free Edition Online

CarissaM

Level 15

This would depend on your bank. Some banks post deposits at midnight, others do not post deposits until the bank is open.

Also depending on your bank, it can be 1-5 days processing time from when the IRS or state states the refund has been sent.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

Lokdog25

Level 2

I did my taxes this year and I changed my direct deposit information from one closed account to another account that is active will my tax refund check hit my active account?

JakailaLO

Level 8

How did you change the bank account numbers and are you saying you changed it via Turbo Tax online?

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

Lokdog25

Level 2

Yes I changed it on TurboTax online when I did my tax return 1040EZ this year and I changed it from metabank to green Dot bank when I got to the page that we can choose direct deposit or paper check

JakailaLO

Level 8

Yes, if you updated your bank account information prior to submitting your return, the funds will deposit the bank account number you entered.

If you already e-filed - this information is printed right on your return. To find this information please log into your account and select download/print return and a pdf copy will open up on your computer and you can review/print your forms for the information. (For example. Form 1040 the information regarding your refund is on lines 75-77 and direct deposit is on line 76. a-d).

If you have not already e-filed- then you can go to the File section of TurboTax Online and you will see your banking information in Step 2 that you can review. At that point, you'll be able to review, Edit or update your banking information for direct deposit before e-filing your return.

For additional information on direct deposit please see the following TurboTax FAQ: https://ttlc.intuit.com/replies/3302459

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

Aleita

Level 2

I have searched for the answer to the actual question and have yet to find it. Every answer explains that it depends on your financial institutions policy. I know my banks policy, however I would like to know the time(not the date or day of week) that the IRS actually does the direct deposit into peoples accounts? Is it Midnight, 5am, all times of day rather then a set time...?

CarissaM

Level 15

The IRS sends the deposit over to your financial institution with a set date for it to be deposited. Think of it like if you have your paycheck direct deposited. If your employer sends it with a date on the check for 02/25/2020 then it will be posted to your account based on your bank's guidelines. Some banks will have it showing that day at midnight, while others place a 3 day hold on the deposit. You would base it on the financial institution you bank with.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

Nene122719

Level 2

I'm scheduled to receive my tax refund on February 26, 2020 at what time should I expect my refund if I did direct deposit l.

DaraLO

Level 12

We can't give you an exact time and neither can the IRS.

According to the IRS website, "It takes additional time for refunds to be processed after leaving the IRS, and for financial institutions to accept and deposit them to bank accounts and products like debit cards. Also, many financial institutions do not process payments on weekends or holidays, which can affect when refunds reach taxpayers."

Reference: IRS.gov - Refund Timing

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

Tjohnson2150

Level 2

I have the turbo tax green dot card I have a deposit date for the 26th will it come at midnight?

-dad1122

Level 2

Okay... It's Monday April 29 1203 a.m. According to the tax portal I'm supposed to receive my stimulus check on this date. As of this time I have yet to receive it. Who knows when it will arrive. Anytime today is all I know

Sujralls

Level 2

Everyone clearly comments their issue but once they get deposit they do not update the status. Once you receive the refund please update the date and time u received against what was scheduled by IRS