Actually, if you notice on WMR, it says,”your refund is scheduled to be sent to your bank BY ….”. From what I remember in the past, that’s the last date that the refund is supposed to hit by. Not when the IRS deposits the refund. I also know that there is a part that says if your refund doesn’t credit to your bank almost a month later to contact them. That’s excessive time frame mentioned because the NACHA guidelines - for ACH transactions state that the financial institution has to make funds available by the second business day after they were sent.
The biggest issue I have with TT, and with SBTPG - the company TT hired to disburse refunds, is that they can send it earlier, as they are aware of a pending refund coming in from the Treasury Dept. . These don’t get returned or cancelled after sent. But because they chose not to recognize this for people who didn’t pay for the early deposit there is an even further delay in the time it takes for customers to receive their funds. Typically banks will release deposits early once they are aware of incoming transfers like this but because TT picked a company that literally waits till the last minute possible to send funds and then they allow them to send the disbursements the slowest way possible, it makes their customers wait even longer, especially with FEDNOW , RTP, and same day ACH transactions being more and more popular… but no… let’s use the longest possible way ever to release and disburse funds so we can trick people into paying for their refunds to be made available 5 days earlier even though most banks would release these deposits for free at the same time
