why can't you have a direct deposit tax refund deposited to savings?

Answer 1

you can! I did it! You just have to know the routing number and account number of your savings account. I guess it is a lot easier to get these numbers from a check then have to get them for a savings account! But you can have your refund put in a checking, savings or IRA account

Answer 2

Most banks allow direct deposit into the savings accounts as long as you give the IRS the correct information, routing number and savings account number you should be fine.

And to what one poster said BEWARE preprinted deposit slips do not always contain the account routing number. Some banks will print a INTERNAL routing number on the deposit slips. These numbers are not compatible for deposits by the consumer or other companies such as the IRS.

IF you use that routing number you will have one major headache trying to retrive the funds.

Go the safe route and verify the numbers on a check and call your banks telephone bankers to double check.

Answer 3

1) To answer your question, it is possible to deposit to a savings account.

2) Reason why they say this: It's easier to tell people to get their checks vs. telling them to access the banks routing numbers, account numbers etc.

3) How it's done: Generally if you have a pre-printed deposit slip around, you should be fine. Or, you can call your bank and ask them.

For direct deposit, you need two pieces of information: The Routing Number and Account Number

Routing Number: This is the code that "routes" (hence routing number) or tells what bank the account belongs to. Generally they have this format (obviously the numbers will be different).

10400029
10400016

Account Number: That's self explanatory.


I hope that helps.

Answer 4

And also, the account has to be in your name, or they won't direct deposit it !!

Answer 5

wow I swear I only examine is it threat-free to haev unprotected sex even as pregnant? wow thats so strange...then my eyes blurred out... I continuously felt safer with the checks and so did eveyrone i understand. that is rally a question on your legal professional once you've one.

Answer 6

I did