When the IRS owes you a tax refund, you want to get it as soon as possible.
For those who use Chime for their banking, one of the things Chime markets is getting tax refunds to their customers quickly. They say you can get your federal tax refund up to 5 days early if you use direct deposit.
Most taxpayers get their refund from the IRS within 21 days of their tax return being accepted. So, according to Chime, you can get it even faster with direct deposit. Knowing exactly when you will receive your deposit is hard to know, as banks and banking institutions have different deposit times.
That said, one question that’s common for Chime customers is what time does Chime deposit tax refunds?
Today, we will share with you how long it takes to get your tax refund through Chime.
What Time Does Chime Deposit Tax Refunds?
When it comes to the time your tax refund is deposited, there is no specific time. Monday – Friday, any direct deposits Chime receives for your account is put in there immediately. So, this means, the time you get your tax refund depends more on when the IRS sends it than on Chime.
If the deposit is sent by the IRS on a holiday or weekend, however, you’ll have to wait until the next business day to see your refund in your account.
It may take a few days for the tax refund to be deposited into your account if you are using Chime.
How and when you file your tax return determines how quickly you will receive your refund. The Internal Revenue Service distributes refunds according to a schedule that prioritizes e-filed returns and direct deposit refunds.
Your refund should be processed within 21 days if you used both of these options for your tax refunds. Paper returns and check refunds can take up to two months to complete.
If you e-filed your return, you should expect to get your refund more quickly through direct deposit instead of if you mailed your tax document.
How To Check Your Deposit Status on Chime
If you are a Chime member, you can select “direct deposit” on your tax software. After that, you provide your Chime Checking Account number as well as the appropriate routing number, and you’re done!
From then, all you have to do is sit back and wait for your refund to appear in your account. Chime will notify you through text message and email when your refund has been processed. You will know that the money is there the moment you receive it if you do it this way.
For many employees, a direct payroll deposit will appear in their bank account at midnight the day before their pay date. However, they may sometimes come on the same day in some cases.
But it is possible to get your tax refunds any earlier with Chime? Direct deposit is the most convenient approach to ensure that you receive your money as soon as it becomes available. It can be up to five days earlier! When you file your federal income taxes with the IRS, you only need to include your bank routing information and Chime Spending Account number.
How long it takes for Chime to deposit your tax refunds will depend on the IRS. The estimated time it will take is a few days.