Banks Restricting Rapid Refunds

reply to post by iceblue20-12


Other posters have made excellent points (credit where credit is due) and after they pointed them out I have no doubt that, that does play a roll. However, I still feel there is more going on. Will the government take over the world with the interest they recieve from being able to hold the money for a little longer? I highly doubt it.

I have been filing rapid for 14 years. Never had a credit check. Never had a bounce back. I am sure scammers are trying to get money for nothing, and I am also sure the scammers were around for the last 14 years. So I am just curious as to what changed.

They loan the money in anticipation of recieving your government check. Now loads of banks in the very same year stepped way back and decided that they wanted the loanee's signature instead of Uncle Sam's. His has been adequate before now, suddenly it isn't.

I am not trying to fear monger or rile people up. I just wanted to let those few that do RAL know that they will have to do it alternatively this year and discuss what made them change how they do things this tax season.

And yes. I decided to wait as well. I am sure that will be the status quo this year. Thanks for your reply.

Something else for people to watch,when you pay a bill using internet we noticed that the money was disappearing for 4-5 days before the bill was PAID so to speak.We were paying our rent every month on the due date 26th,the real estate agent wasnt getting it until sometimes the 1st of the next month,we stopped the internet transfers and now pay direct cash in person into the account.Where was our money going for those few days? It left our account?

reply to post by Kangaruex4Ewe


I have noticed a distinct lack of Tax commercials, the RAL ones in particular, on TV this Jan, Usually they are in every single commercial for that next day money. This year the 8 day refund via turbo tax seems to be the way to go.

This is just another sign of all of the credit markets drying up.