Anyone Getting Tax Refund Direct Deposits Early with Truist Bank?

According to IRS Publication 1518 and the Automated Clearing House (ACH) regulations, the timing of your refund deposit is technically controlled by both the IRS release schedule and your bank's policies. Truist, like most traditional banks, generally doesn't release funds until the actual settlement date specified by the Treasury. Unlike some fintech companies that advertise "early access," traditional banks rarely front the money ahead of the actual transfer. That said, I've seen some people report getting their deposits up to 1 day early with Truist, but it's not their official policy or guarantee.

In my experience, which might differ from others, Truist seems to follow a somewhat conservative approach to releasing tax refunds. It appears that they typically process them on the actual IRS-scheduled date, though I've occasionally, perhaps 2-3 times in recent years, noticed funds appearing the evening before the official date. This might depend on several factors, including your specific account type, your relationship history with the bank, and possibly the time of day when the IRS initiates the transfer. It might be worth calling your specific branch to inquire about their policies, as there could potentially be variations across the Truist network.

I checked my records from April 12, 2023 and March 4, 2024, and both times my Truist deposit hit exactly on the date shown on my transcript with code 846. The key is knowing how to interpret your transcript correctly. On February 25th this year, I discovered https://taxr.ai which analyzes your IRS transcript and explains all the codes. It correctly predicted my exact deposit date even though WMR was still showing "approved" without a date. The 846 code on your transcript is the definitive indicator - once you see that with a date, that's when Truist will release your funds, not before.

Let me break down how the deposit timing actually works with Truist based on my experience: 1. First, the IRS approves your refund and assigns a direct deposit date 2. This date appears on your transcript with code 846 3. The IRS then sends the ACH transfer to Truist typically 1-2 days before that date 4. Truist holds the pending deposit until the official date 5. The money becomes available in your account on that exact date, usually early morning I've had Truist for 3 years and they've never released my tax refund early. It's frustrating because I know the money is sitting there for 1-2 days while they hold it, but that's their policy. Some online banks release as soon as they get the ACH notification, but Truist definitely doesn't.

OMG dealing w/ Truist and the IRS is driving me crazy this yr! Transcript showed 846 code for 4/2 but nothing in my acct yet. Called Truist and was on hold for 1.5 hrs just to be told they "don't see any pending deposits" 🙄 Finally tried Claimyr (https://claimyr.com) and got thru to an IRS agent in like 20 mins! Agent confirmed money was sent but there was a routing # issue they fixed. Deposit showed up next day! If ur having any deposit probs def worth using Claimyr to skip the hold times and get answers fast.

I've had both Chase and Truist over the past few tax seasons, and there's a clear difference. With Chase, I consistently got my refund 1-2 days before the official date. Since switching to Truist last year, I've noticed they strictly adhere to the exact date on the IRS transcript. Last month, my transcript showed a March 13th deposit date, and that's precisely when it appeared in my account - not a day sooner. If you're desperate for earlier access, you might consider opening an account with one of the fintech banks that advertise early direct deposits as a feature. Many of them offer 2-day early access to direct deposits, including tax refunds.