It’s officially January, which signals the beginning of everyone’s favorite part of the year: tax season, or as we like to think of it, refund season!
Tax season can be stressful, but did you know that nearly 80% of people who file a return will receive a tax refund check? Yes. You read that correctly. Uncle Sam has refunded an average of $3,120 over the past few years. If you’re eagerly awaiting that big payday like most Americans, you’ll want to receive your reimbursement ASAP. Below we’ve outlined the fastest way to deposit your tax refund check with Chime.
Why wait for a tax refund check in the mail, when you can have it automatically deposited directly into your Chime Account?
One of the best ways to ensure that you receive your refund check quickly is by electing to e-file with direct deposit. According to the IRS it’s “the fastest way to get your tax refund check.” Filing with direct deposit is convenient and easy. Here’s a quick step-by-step guide to getting your tax refund direct deposited to your Chime Spending Account:
Step 1: Get your Spending Account and Routing Numbers.
First things first. Get your bank account information:
- Open the Chime app on your phone or login to your Chime Account on the web.
- Visit the ‘Direct Deposit’ section under ‘Move Money’ to view your Spending Account and routing numbers.
- If you need a copy of your account information, you can also email, print, or download your direct deposit form. The form which has your account information needed for direct depositing your refund.
Step 2: Include your Spending Account information when you file your return.
If you’re using a tax software, like TurboTax or Quickbooks, you’ll be presented with options as to how you would like to receive your tax refund check: direct deposit or check by mail. Select direct deposit and make sure to include your Spending Account and routing numbers. If you are having your taxes filed by a professional, let your tax preparer or accountant know that you want to receive your tax refund check via direct deposit and provide them with your account information.
Be sure to double, triple, and quadruple check the information provided to avoid any errors which could delay your refund.
Step 3: Get notified the instant your refund arrives.
When you e-file your return and select direct deposit as your payment option, expect to receive your refund within 21 days. The IRS issues 9 out of 10 direct deposit refunds within 21 days, as opposed to waiting 8 weeks for a check via snail mail. The moment your refund is deposited to your Spending Account, we’ll send you an email and an alert to your phone. If you think it’s taking too long to get your refund, you can always check on your refund status with the IRS’s nifty refund tracker.
The deadline for filing your return is April 15th, but the sooner you file, the sooner you’ll get your refund. Following these tips will ensure you follow the IRS’s recommendation on the fastest way to deposit your tax refund check and be the envy of all your friends.
This page is for informational purposes only. Chime does not provide financial, legal, or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for financial, legal or accounting advice. You should consult your own financial, legal and accounting advisors before engaging in any transaction.