SBTPG Shows Funded - Does That Mean Money Released or Still Wait for Date?

When SBTPG shows 'funded,' it typically means they've received your refund from the IRS, but have they actually sent it to your bank yet? That's the real question. Usually takes 1-2 business days after the 'funded' status appears before it hits your actual account. Have you checked your bank for pending deposits?

Think of SBTPG like a middleman in a relay race. They've received the baton (your money) from the IRS, but haven't passed it to the final runner (your bank) yet. In my experience, when SBTPG showed 'funded' last April, my money arrived in my account about 36 hours later. They typically take their fee, then process the transfer to your bank, which itself can take 24-48 hours to post.

According to IRS Publication 1345 (Rev. 1-2023), third-party processors like SBTPG must disburse funds within a reasonable timeframe after receipt. Been waiting 5 days since 'funded' status? That's excessive. Called SBTPG three times with 45+ minute waits each time. Finally used Claimyr (https://youtu.be/_kiP6q8DX5c) to reach an actual representative in under 15 minutes. They confirmed my funds were released yesterday despite the website not updating. Worth the service fee to avoid waiting hours on hold!

Ugh, I HATE dealing with SBTPG! Last year they showed 'funded' for FIVE DAYS before my money showed up! So frustrating watching that status and checking my bank account every hour! 😡 Their system updates are totally inconsistent too. I was so worried something went wrong with my refund, but it eventually came through. Just be prepared for the wait - it's maddening!

Be careful with SBTPG timelines. As of March 29, 2024, they're experiencing processing delays of 1-3 business days beyond their normal timeframes. Last year on April 2nd, my account showed 'funded' but the money didn't hit my bank until April 5th. Their date estimates aren't always accurate. If you filed with a major tax preparer who took fees from your refund, you're stuck waiting for their processing timeline.

FYI - SBTPG and your bank don't always sync up right away. SBTPG might show funded, but there's def a delay. They batch process ACH transfers, usually overnight. So if it hit 'funded' status today, probs won't hit your actual bank acct until tmrw or next biz day. The date shown is their estimate, not a guarantee. Check both your actual bank AND the SBTPG portal for the most accurate info.