Pay turbotax with my refund time frame

[hypnotixdmp]

If I chose to pay turbo tax with my refund, and it has been approved for the 7th of this month, how long does it usually take for Turbotax to process the payment and send the money to my bank account?

[EbonyL · Accepted solution]

There is no delay associated with the Refund Transfer and it may actually help you get your money faster, depending on your circumstances. The answer depends on whether or not you have a bank account.

Once you have confirmed that your refund has been released by the IRS and you have elected to have your TurboTax fees paid from your tax refund, you may check the status of your Refund Transfer by visiting https://taxpayer.sbtpg.com/login.

[hypnotixdmp]

The irs wheres my refund site says it has been approved and should be deposited by Feb. 07 2018. So its possible I could get it a little sooner? And yes, I have a bank account it is being deposited into with a FCU.

[EbonyL]

When the IRS releases your refund it will be released to Santa Barbara Bank. Once it is there, they will deduct your TurboTax fees and release the remaining balance to your bank account, usually within the same day. There is no way to tell if you will get your refund sooner as it is all dependent on the IRS and when they release the funds.

[hypnotixdmp]

OK, I was just wandering how long it took Turbotax to get the money and send it back off to me. So the day the funds are released, they should be in turbotaxes possession , and then send to me all within a day or 2 I assume?

[EbonyL]

That is correct. From my experience it has been within the same day by the end of the day. You can actually track it on their website <a rel="nofollow" target="_blank" href="https://taxpayer.sbtpg.com/login">https://taxpayer.sbtpg.com/login</a>.