Free vs Paid vs Bank Account

[JacTax]

It appears that doing your taxes yourself with a free service like FreeTaxUSA, etc., and having it deposited to a card like Chime, etc., where you have no real bank account, is what determines how fast you get your return back.

If you pay for a service like TurboTax and claim no kids, are single and have a REAL bank account like Bank of America, etc., that seems to be how the returns get deposited to you the quickest way.

Also, if you have an actual bank account and use a free service like FreeTaxUSA, are single and claim no kids, it is the second fastest way to get your return.

Direct Deposit is STILL the fastest way overall, but with the delays that are currently happening, having a bank account as opposed to not having one and claiming no kids is what “appears” to be the difference.

I could be wrong…Just my observation. 😁

[JacTax]

@Target

FreeTax (Fed free..State paid)…Been using them for years with no problems.

The only exception this time is that I switched from a Netspend card to a Chime card. Could be the reason for the hold up. 🤷‍♂️

[Target]

@Jactax, which is your sitch? Freetax? I used TT – efiled and self prepared. Receipt: $40, to include State, $0 for everything else. I used JH last yr, those bloodsuckers charged $530 filing fees. NEVER again…..

[Target]

@Jactax, which is your sitch? Freetax? I used TT – efiled and self prepared. I used JH last yr, those bloodsuckers charged $530 filing fees. NEVER again.

[Target]

Well, I did not use my Chase last year, I used American Express account. But I believe the fastest are “Prepaid cards”!

I decided to go w Chase this yr. Well, I shall see how they handle all this. They are finicky. I deposited a check for a mere $1600, it was on hold for a week. Tried to deposit $2900 cash outside atm, was motioned to come inside. Attempted to transfer $1,900 from my American Express to my Chase, they at first declined transaction. It is where I have my savings account, where most of my refund will sit. The rest, in my TD Ameritrade. If I could, I’d change, and have it all sent to my Ameritrade, they aren’t as stuffy! Though, one may think.

[JacTax]

Because people want to know. 😁

And, as I said, “I could be wrong…Just my observation.” 😜

Relax ✌🏼

[Nathan]

What exactly is the point of this thread? It is pretty well known that:

1) Prepaid accounts often post as soon as ACH notifications are received by the bank. They often use the “get paid 2-3 days early” to get people to use their services and pay their fees.

2) Paying for your return to be prepared WITH your refund will cause a slight delay in deposit times.

3) Using a brick and mortar bank vs an online account allows you to pull cash with no fees.

4) Claiming EIC or ACTC slows your refund timing as not claiming those credits does not.

5) What was the point of you starting this tread again? Were you just bored or?

[Author]

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