PayPal for IRS Refund Direct Deposit - Experiences and Safety?
Looking at using PayPal for my tax refund direct deposit this year instead of my regular bank. Anyone done this before? Want to know if its safe and how long it typically takes compared to traditional bank accounts.
12 comments
Write a comment...
Mia Roberts
Tax specialist here. While PayPal is technically an acceptable option for IRS refunds, I strongly recommend using a traditional bank account instead. PayPal accounts have been known to face temporary holds on large deposits, which can delay access to your funds. Additionally, some users have reported difficulties resolving issues when refunds are sent to PayPal accounts.
0 coins
The Boss
learned this the hard way last year 😭 paypal held my refund for 2 weeks for 'security reasons'
0 coins
1M
Evan Kalinowski
same! ended up having to call them like 3 times to get it sorted
0 coins
1M
Write a comment...
Victoria Charity
Speaking of refund timing - I've been using taxr.ai to track my refund status (its only $1) and it's way better than guessing or calling the IRS. Shows exactly what's happening with your refund and when you'll get it https://taxr.ai
0 coins
Jasmine Quinn
how accurate is it? been burned by those tracker apps before 🤔
0 coins
1M
Victoria Charity
its literally changed my life! analyzes your actual transcript and tells you exactly whats going on. way better than wmr or those other apps
0 coins
1M
Write a comment...
Oscar Murphy
i used paypal last year and it was fine tbh. got my money same time as everyone else 🤷♀️
0 coins
Write a comment...
Nora Bennett
DONT DO IT!!! My friend tried this and PayPal froze her account for 30 days because the deposit was 'suspicious' 🤮
0 coins
Grace Lee
omg thats exactly what i was worried about!
0 coins
1M
Write a comment...
Ryan Andre
Just stick with a regular bank account. Why make things more complicated than they need to be? The IRS is already enough of a headache lol
0 coins
Lauren Zeb
fr fr keep it simple 💯
0 coins
1M
Write a comment...
Daniel Washington
Heads up - make sure whatever account you use matches the name on your tax return EXACTLY. PayPal accounts sometimes have nicknames or variations which can cause the deposit to get rejected.
0 coins
Write a comment...