IRS/Santa Barbara Bank & Trust?

Question

Ok..Here's another problem. The Irs website states that my refund will be deposited on 2-16. I originally applied for a Refund Anticipation Loan (through Santa Barbara Bank and trust) and was denied, and that my refund would turn into a Refund transfer. (they will collect funds then disperse them to my bank account. I checked with SBBT for my account status and this is what it said

The IRS issues refund deposits each Friday, so your delayed deposit may not arrive until the following Friday. You may visit www.irs.gov to check the status of your refund.
The IRS did not deposit funds to your account as originally expected. The IRS usually makes refund deposits within 9 to 16 days, but your deposit was not received within that timeframe. At times the IRS will delay a refund deposit by one week, so you may check back at this site seven days from now. If no deposit is made by then, you should contact the IRS. For more information on the status of your refund. IT'S ONLY WEDNESDAY HELP!!

I don't understand why the irs gives you a direct deposit date if they need to or want to review your return. It doesn't make any sense. Has any one from the 1/26 deposit date rec'd their refund???

Answer 1

The IRS is going to release the refund this Friday, what happens from there is between you and SBBT. That is why it is recommended not to apply for the Refund Loans , It makes more sense to have the refund sent directly to your bank rather than paying more money to have it sent to someone else, who is then going to send it to you.

Next year get direct deposit to your own account or have the check sent to your home.

Answer 2

Great answer Rob, I totally agree. It is so easy to have the refund go straight to your bank account and it is 100x better than paying for a refund anticipation loan. Sounds like it would of been quicker to do it that way, even though the lure is there for you to get your money sooner and they imply that...it does not make sense because the money comes just as fast straight through the IRS!

My refund is coming on Friday too, but will go straight to my bank account. I hope you can straighten that out with SBBT and not have to wait another whole week for them to deposit your $$$,