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When does the IRS actually notify the bank to deposit your refund...?
Just a random question....I know that they actually deposit on Fridays but when do they send out that notification. I saw on a TT board that someone asked this question and the responses were all over the place. Most said they do this on the Monday before? Is this true? Seems like Monday would be too far out.
2 Answers
- Bostonian In MOLv 71 decade agoFavourite answer
The ACH transmittals are normally submitted to The Fed by the IRS on Thursday evenings.
How long it takes to make it to your account depends upon your bank. If your bank processes these in real time the money should be in our account sometime Friday, often at the beginning of the banking day. If your bank batch processes them at end-of-day then they'll run them with Friday's business on Friday evening and it will generally be Monday before you see the money in your account.
Some smaller community banks and credit unions are not on the Fedline network and get their transmittals from a larger bank in the area. Those will usually take an extra day at least to post to your account. And a few of the smallest banks and credit unions still post ACH transactions manually so it may take 2 or 3 more days to show up in your account.
Source(s): I work for a bank holding company. All of our banks batch process at end-of-day although we're working on upgrading the system to post in real time. We're putting on extra staff on Friday evenings to handle the added load of tax refund transmittals that are due to start arriving on Friday, the 25th. - 1 decade ago
Actually, it's best to see if they have gotten to your refund....then request your bank to either e-mail you or text your cell when it has been deposited. They do not just deposit on Friday. The IRS works every day and all departments. As your refund goes through the complex system...your refund can be electronically sent any day of the week which is why I suggested the above. Good Luck..it's hard waiting for your own money to return to you for sure.
Source(s): Deja Sweets Bro is a IRS accountant.....
