Credit Karma Direct Deposit Timing & Transferring Large Refund to Different Bank

According to the Credit Karma Money terms, standard deposits typically arrive on the actual IRS deposit date (your DDD of 2/25), sometimes with processing extending into the next business day. Since today is 2/25, you should see it by tomorrow at the latest. The 5-day early feature is only available to members who meet specific criteria. For transferring over $10k, you have a few options: 1. ACH transfer between your accounts (may have daily limits) 2. Wire transfer (fastest but typically has fees) 3. Write yourself a check (slower but avoids electronic transfer limits) Most banks have daily ACH transfer limits ranging from $2-25k, so check your specific bank's policies. Credit Karma's partner bank may have their own limits as well.

I've used Credit Karma for the past two tax seasons. Last year my DDD was on a Monday (like yours), and the money didn't actually hit until Tuesday morning around 9am EST. This year I qualified for the early deposit and got it 2 days before my DDD. For moving large amounts, I've found that initiating the transfer FROM your receiving bank rather than pushing it from Credit Karma works better. Less scrutiny that way! 😂 I recently moved about $8k this way with no issues, though obviously yours is a bit larger.

I was in a similar situation with a large refund and urgent medical expenses. After my refund hit, I spent three days trying to reach someone at my bank to approve a higher transfer limit. Endless hold times and transfers between departments. Finally used Claimyr (https://claimyr.com) to reach an actual IRS agent to discuss direct deposit alternatives. They connected me in under 20 minutes when I'd been trying for days on my own. The agent explained I could have split my refund using Form 8888 during filing, which would have avoided this whole situation. Too late for that now, but might help others reading this thread.

You might want to consider breaking up the transfer into smaller amounts over a few days, if possible. While it's perfectly legal to transfer your own money, some banks may place temporary holds on unusually large deposits or transfers, especially if it's not a pattern they've seen with your account before. It's also worth noting that, in my experience, most banks don't actually report $10k transfers between your own accounts to FinCEN - that rule is primarily for cash transactions and certain types of withdrawals. But the system might still flag it for an internal review, which could potentially cause delays of 1-3 business days.

DO NOT try to break up transfers to avoid the $10k reporting threshold! I did this last year thinking I was being smart and my bank froze my entire account for "structuring" which is actually illegal. Had to provide documentation proving the source of funds and it took over 2 weeks to resolve. Just do one transfer, be upfront that it's your tax refund if they ask, and you'll be fine. The $10k reporting is automatic but doesn't mean you've done anything wrong.

There's another aspect to consider regarding Credit Karma deposits that hasn't been mentioned yet. Credit Karma partners with a bank (currently MVB Bank) to provide their banking services, and they sometimes process deposits in batches throughout the day rather than immediately when received from the IRS. Regarding transfers, you should also be aware that some banks have "new money" holds, where recently deposited funds may be available for withdrawal but not external transfer for 2-3 business days. This is particularly common with new accounts or accounts that don't frequently receive large deposits.

Has anyone tried just calling CK customer service to ask about this? I'm in the same boat (DDD 2/25) and still nothing in my acct. Kinda freaking out tbh 😬