I will start by saying that my husband was laid off work a few months ago, and we still have debts and bills to pay, so we were greatly relieved when we filed our taxes and learned we would get almost 7,000 back from state and federal combined, we do not have a bank account due to chexsystems, so we got the no hassle Capital One debit card account, you get free direct deposit and at the time they were pushing the "get your tax refund directly deposited to your account" so we did that, you get a routing #, account #, and a VISA debit card.
We even went as far as to fax in our W2's and 1040's so they could verify that we were indeed receiving refunds from the IRS and they were indeed ours. We paid the tax service 65.00 to have a RAL deposited to our Capital One account, everything was fine until we actually got our refunds deposited, the IRS and our state revenue deposited our refunds to the account and Capital One sent them back due to they way the deposit was coded, (the deposit came in as RAL IRS tax refund for SSN 258-xx-xxx)
Thats how the IRS does it and it has always done it that way, and since we faxed in our W2's and 1040, they should have been able to see that "we" were expecting a tax IRS refund for the exact amount shown on our returns, the bank says that ALL deposits must come in under a name. They accept the deposit, then return it back to the IRS and it will go through another review and I'll receive a "paper check" within 45 days. I paid 65.00 extra to have my money NOW, and I HAD it, and my bank is taking it away.
I pay this bank a monthly fee to have an account and they won't even credit my deposits, and it's my money, they returned a legit deposit, and they had proof that it was my deposit, I needed that money, we had bills to pay, if they had not rejected my refund, I could have paid the monthly payment on my car title loan and now the title company has to hold my car until I pay and now I have to wait up to 45 days to get a check from the IRS, when I paid to have it NOW.
How can a bank do this? How can they open an account, set you up for direct deposit and then deny your deposits and not tell you their regulations on that until your money is sent back and tied up in red tape, this happened with a pay roll check also and now the company that direct deposited it has canceled the direct deposit, so we have to get paper checks cashed. Whats the point of having this debit account and getting people to have their IRS refunds put in them if they are just going to be rejected. I don't see how this is legal.
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