Quick guide

Direct deposit: receive your tax refund check faster and safer

Last updated:

December 8, 2022

When you “direct deposit” money into your bank account it means that you use an electronic transfer to move the money from one place to another.  When you direct deposit your refund to your bank account, it means that the money goes directly from the IRS into your bank account without ever needing a paper check.

This has a number of advantages over receiving a paper check:

It is just plain faster.  When you direct deposit your refund check, you will receive your refund two weeks faster than if you have them send you a paper check.  And if you receive a paper check, you still need to cash the check to use the money.  Many people receive their refunds within three weeks with direct deposit and often as early as ten days after their return has been accepted by the IRS.

It is safer.  When you direct deposit your refund your money goes directly to you.  No one else handles your money. It doesn’t run the risk of going to the wrong address or getting stolen from your mailbox! Direct depositing your refund doesn’t cost you money.  Unlike receiving a paper check, by direct depositing your refund you will not need to pay any check cashing fees.  These fees can be 3, 5, or even 10% of  your refund.  Why pay someone to receive something that is yours!  Don’t have a bank account to direct deposit your refund into? Use our “Find a bank” tool to see what banking option is best for you! (You will need to create an account to start.)