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Tax refund due in account by March 17th 09. But are deposit's done on friday?
We filed our taxes online and the email stated that the refund would be direct deposited in account by March 17th. But I heard that the IRS deposits on fridays'. Is this true?
- Bostonian In MOLv 71 decade agoFavorite Answer
While many banks do process ACH transfers in real time, many still batch process at end-of-day. If your bank processes in real time, your money will show up as early as Thursday evening, sometime after 6:00 PM Eastern when they start the ACH run. If your bank still batch processes, it would normally be the following Monday before your money is in your account.Source(s): Used to work in the banking industry.
- Bob FLv 61 decade ago
The extra days from the 14th to the 17th is because your bank will have it on the 14th but won't admit it because they need 2 business days to "process" the deposit. Really, bank-speak for using your money for 4 days for free.
- Anonymous1 decade ago
yes only on fridays. at least in NY.