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Posted on: February 7, 2017 at 4:42 PM
Categorized in: Consumer Education

Direct Deposit: The Fastest & Safest Way to Get Your Tax Refund

Ensure your tax refund is processed quickly and accurately by providing the correct account information.

If you use direct deposit to receive your paycheck, Social Security, or Veterans Affairs benefits, you already know the convenience of having funds electronically deposited into your account. Why not enjoy the same convenience when receiving your tax refund? It’s not only the fastest way to receive your return, but it’s the safest way, too!

Speed, savings & safety

When filing electronically and receiving funds via direct deposit, you’re likely to receive your refund in less than 21 days. Don’t put off making substantial purchases or scheduling home or car repairs longer than you have to—select direct deposit when filing your taxes and receive your funds as quickly as possible. Another added benefit to direct deposit is that savings are passed on to your fellow Americans. According to the IRS, taxpayers fork over more than $1 for every paper check issued while each direct deposit only costs about $0.10. Finally, fraud prevention is one of the most important benefits to direct deposit. Paper checks are susceptible to being lost or stolen in the mail—a problem you don’t have to worry about with electronically transferred funds.

How to

You can sign up for direct deposit whether filing electronically, via the old-fashioned paper method, or through a tax preparer. All you need is your:

  • Routing number. MIDFLORIDA’s routing number is 263179804.
  • Full account number. Your account number has more digits than your member number. Log on to Online Banking, go to the Accounts tab, and click on View/Edit Accounts to find your full account number. Please note that, if you have nicknamed your accounts, your account number will not show in mobile banking but can be accessed through the full site. To access the full site from your phone, go to the mobile banking login screen, scroll down to the bottom, and click on the “Visit midflorida.com” link. This will open a login screen to MIDFLORIDA’s full online banking site.
  • Account type. Simply indicate checking or savings.

Learn more

Click here to be redirected to the IRS website where you can learn more about choosing direct deposit for your tax refund.

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