Author Topic: TurboTax - if you get a refund, don't have fees taken out of it  (Read 2722 times)

Livewell

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Just completed a fun morning of figuring out that my refund is being held by their third party bank, Santa Barbara Bank & Trust.   SBBT is used when you select the "take fees from my refund", which I did for the first time this year and will never do again.

Without notifying me in any way, SBBT held the refund pending an ID check.   To figure this out, I had to track down that the IRS had sent it (easy), that my bank didn't have it even pending (somewhat easy), get someone at TurboTax to tell me about SBBT (hard) and finally talk to someone at SBBT (somewhat straightforward).   The net is about a two week delay on my refund.

We're fine to wait the two weeks, just a pain in the ass and a broken process that I figured I'd share so others could avoid it!   Next year back to paying with a credit card!


FIPurpose

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Re: TurboTax - if you get a refund, don't have fees taken out of it
« Reply #1 on: March 01, 2016, 03:42:33 PM »
Yeah I'm tempted to do this every year, and I almost did this year. Clicked back enough till I just decided to charge it. After taxes are done, I don't want to log back in until next year.

Bracken_Joy

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Re: TurboTax - if you get a refund, don't have fees taken out of it
« Reply #2 on: March 01, 2016, 04:06:38 PM »
Good to know! Thank you.

braje

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Re: TurboTax - if you get a refund, don't have fees taken out of it
« Reply #3 on: March 01, 2016, 04:25:03 PM »
Isn't there a fee for them taking the money from your refund?

2Birds1Stone

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Re: TurboTax - if you get a refund, don't have fees taken out of it
« Reply #4 on: March 01, 2016, 04:30:56 PM »
There is a fee for taking the money out of your deposit, it is significant too.

Livewell

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Re: TurboTax - if you get a refund, don't have fees taken out of it
« Reply #5 on: March 01, 2016, 05:02:52 PM »
There is a fee for taking the money out of your deposit, it is significant too.

It was, if I recall correctly, part of the audit defense package, $50, as a free option.  I do this as an extra level of protection against an audit.  I was excited to be done, should've thought for a second and taken the minute to use my CC.