Don’t let the IRS determine when you will get the money. Put money in your pocket sooner with a Refund Anticipation Loan (RAL) or Refund Transfer (RT). See details below.
There are four ways to use a supporting bank to speed up your refund and pay the Tax-Engine fee directly out of your refund without using a credit card.
1. Choose a Refund Anticipation Loan (RAL) The supporting bank will directly deposit the amount of your Federal refund, less Tax-Engine and bank fees, into your own personal banking account. This will be done within two days after the IRS has acknowledged your electronically filed tax return. The bank fee for this loan service is:
There is no additional charge for the cashiers check option.
The bank will not provide a loan for a state refund. However, if you choose to receive an RAL on your federal refund, the state refund will simply be treated as an RT instead. The bank fee for this State Refund Transfer (RT) is only $4.00.
2. Choose a Refund Transfer (RT) The IRS will directly deposit your refund into the supporting bank. The supporting bank will then immediately deposit your refund, less Tax-Engine and bank fees, into your own personal banking account. This method will take from 9 to 14 days after the IRS has acknowledged your electronically filed tax return.
The bank fee for this service is $18.00 for the Federal and $4.00 for the State for direct deposit.
IMPORTANT INFORMATION REGARDING REFUND ANTICIPATION LOANS
(1) A refund anticipation loan is a loan, which creates a legally enforceable debt. The loan is not your actual tax refund.
(2) Refund anticipation loans provided by Santa Barbara Bank & Trust (SBBT), a division of Pacific Capital Bank, N.A. All RALs are subject to credit approval and other qualifications. A refund account fee and a finance charge are charged by the lender. Amount received will be reduced by fees owed to TaxEngine.com and may be reduced by debt owed for a prior RAL.
(3) You can file your tax return electronically and obtain your refund directly from the IRS for free without obtaining a Refund Anticipation Loan (RAL) from SBBT. According to the internal revenue service, a person who files a tax return electronically and does not obtain a refund anticipation loan can expect to receive a tax refund in 21-28 days by mail or 8-15 days by direct deposit. The refund would be delayed another 2-4 weeks if the tax return was mailed.
(4) The internal revenue service does not guarantee that you will be paid the full amount of your anticipated tax refund and does not guarantee that an anticipated tax refund will be deposited into your account or mailed to you on a specific date.
(5) If you apply for and are approved for a refund anticipation loan, you will be responsible for repayment of the refund anticipation loan and related fees and charges if the anticipated tax refund is not paid or not paid in full. If the refund anticipation loan is not approved and your refund is deposited with the bank, a $28 or $18 refund-processing fee will be imposed depending on the disbursement method you select.
Fee Schedule