Are refunds issued earlier on prepaid cards

[batman]

I got a DDD date of Feb 15 but i filed with turbotax and got a prepaid card… will i get it faster on a prepaid card than a traditional bank account?

[Moneymade]

Yes! This is my first year receiving it on a prepaid card but I’ve been using Netspend for the past several months and I absolutely love it. My husband and I both get our pay dds on Wednesday nights.. sometimes it will take into Thursday morning at the latest. With our chase account they would post our DDs on Thursday nights and Friday mornings. I’m excited to use Netspend for our tax refund!

[Zannah]

The answer is yes. I work for a large bank.
When you have funds sent to a prepaid card, they release them before actually receiving funds.
Raybwill get notice of an ach deposit. Some banks will release federal funds as soon as they see this notification, prepaid cards being one, others will wait until the funds have fully processed through ach (automated clearing house)

[Ih8Lance]

I have the emerald card and I get mine quicker.

[NOTLANCE]

I have wondered if having a prepaid card would speed things up, so for last few years have tried a few different ones. If you have your refund go to a netspend or greendot card, YES you will get refund faster than traditional bank. What those 2 cards do is when the irs sends the money to your card those companies release that amount then. Unlike most cards and banks who wait until the funds are posted in the account. In my case for the last 2 years using a greendot card, I had the money before wmr even updated with ddd.
Hopefully some dumba.s will see that the path act is only hurting the people that need it the most and will amend the bulls..t path act.

[Unicorn Kisses]

@batman – I’ve filed w/ TT now for 5 years. Two of those years I have had the refund DD onto the Netspend card and have found that the last two I have gotten the funds 1-2 days PRIOR to the WMR DDD. This year I had a DDD of 01/31 and got it 01/30. Last year it was 2 days earlier.

When I had fund DD into a traditional bank, I’d see the deposits pending ON the DDD but it wasn’t until 24 hours that I could access them. So, the funds were “there”…but I MUCH prefer the pre-paid card!

Hope this helps!!!

[Author]

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