Tax Refund Deposited In Closed Account?

Tax Refund Deposited In Closed Account?

Postby jereth96 » Sun Jan 30, 2011 12:01 pm

My tax refund got direct deposited into my closed account from a third party (Refund Advantage) & they told me I have to wait until the bank kicks it back out the system & talk to my tax preparer so she can print me a paper check in the office....any suggestions & how long should this take?
jereth96
 
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Tax Refund Deposited In Closed Account?

Postby bourn » Sun Jan 30, 2011 12:03 pm

The same thing happened to be on a profit sharing check from a company I quit working for. I would follow up with the company your closed account is with. they actually held onto my deposit which seemed odd to me and then they mailed me a check. It took me about 3 weeks to get my money. However, if they kick it back that usually takes about 3 business days before the issuing company gets the money back then another 3 days if you have them direct deposit to an open account. So, to answer your question, it should be about 6 business days unless the company your closed account is with keeps the deposit and issues you a check. Then you are looking at about 3 weeks.
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Tax Refund Deposited In Closed Account?

Postby bink16 » Sun Jan 30, 2011 12:10 pm

If you left your bank on good terms, why not call your bank Monday morning, too and see if the deposit is still there, explain the error, and ask them if they will release the funds to you (even offer to provide the copy of the tax return, etc...whatever you would need).
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