We filed out state and federal incomes taxes exactly one month ago, February 7th. And this was by conventional mail, not E-File.
Well, today, when I checked the activity at my bank, which I do a couple times a week, I noted that the federal refund had been deposited, sort of. It seems that the bank, or in this case, my credit union, has put a five-day hold on the deposit. Now this was an electronic deposit from Uncle Sam, and yet the bank put a five-day hold on the money, like they weren't sure that the money was actually going to show up. Now I'm told that even though the bank has put a hold on the money, that I'll still get full credit toward the interest (I had it deposited in my saving account), which is only going to be a few cents at most, but it's just the idea that someone out there appears to not trust the feds. Now my Social Security 'check' is also electronically deposited into that same account, and I have access to that money the same day it's received, the same with my pensions and my monthly draw from my IRA.
Anyway, it just seems a bit strange.
Now I'll see how long it takes for the state to send our refund and I'll have to see if the bank holds that 'check' for five-days as well.
OCU
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