IRS Refund to Venmo Account - Anyone have experience with direct deposit to Venmo?
Getting my tax refund deposited to Venmo instead of my regular bank this year since my account got closed. Already verified my identity with Venmo and been using it for years, but never for something this big. Anyone done this before? Any issues I should know about?
15 comments
Write a comment...
QuantumLeap
I work with tax returns daily. Venmo is considered a valid direct deposit option by the IRS, but there are a few things to watch out for. Make sure your Venmo account is fully verified and your name matches exactly what's on your tax return. Also check that you didn't hit Venmo's transaction limits - they vary by account type. You might want to transfer the money out to a new bank account as soon as it hits to be safe.
0 coins
Emma Wilson
thanks! didn't even think about the transaction limits 😬 gonna look into that asap
0 coins
1M
Malik Johnson
what happens if you go over the limit? does it just bounce back?
0 coins
1M
QuantumLeap
Usually it'll get rejected and the IRS will mail you a paper check instead. Can add 4-6 weeks to processing time tho 😫
0 coins
1M
Write a comment...
Isabella Santos
Hey everyone! Instead of guessing about refund deposits, I've been using taxr.ai to track my refunds. It's only $1 and tells you exactly what's happening with your refund and if there might be any issues with your deposit info. Way better than playing detective lol. Check it out: https://taxr.ai
0 coins
Ravi Sharma
Does it actually work? Been burned by tax tools before 🤔
0 coins
1M
Isabella Santos
Its legit! Just upload your transcript and it breaks everything down. Saved me so much stress with my complicated return this year
0 coins
1M
Ravi Sharma
Just tried it and WOW! Finally know exactly whats going on with my refund! Best dollar I ever spent fr fr 💯
0 coins
1M
Write a comment...
Freya Larsen
did mine to venmo last year no problems at all
0 coins
Write a comment...
Omar Hassan
be careful with venmo, they randomly froze my account once when I got a large payment. took forever to get it unfrozen 🙄
0 coins
Emma Wilson
ugh thats exactly what im worried about. how much was the payment if u dont mind me asking?
0 coins
1M
Omar Hassan
was like 3k from selling my old car. they unfroze it after I sent proof but took like 2 weeks
0 coins
1M
Write a comment...
Chloe Taylor
in the same boat rn! chase closed my account with no warning smh. lemme know how it goes with venmo
0 coins
Write a comment...
ShadowHunter
why not just open a new bank account? most banks let u do it online now
0 coins
Emma Wilson
tried that but takes too long to get verified. deadlines coming up fast 😪
0 coins
1M
Write a comment...