Manage your refund safely and easily

Here are a few tips to ensure that your money arrives as quickly and safely as possible, once you have submitted your federal taxes and know you have a refund coming to you. It is also a good time to consider how to get the most out of your money.

The refund process

The fastest way to get your tax refund is to have it electronically deposited into your bank account through the IRS Direct Deposit Program. It’s free to consumers, and it allows you to deposit your refund into as many as three separate accounts. Here are Steps to Take Now to Get a Jump on Your Taxes.

While you can still receive your refund in the form of a paper check, there are several advantages to direct deposit. Not only is it faster, direct deposit is also more secure. Refund checks sent through the mail can be lost, stolen, or returned to the IRS, if undeliverable. If you don’t already have a bank account, this might be the perfect time to open one.


Banking relationships generally begin with a checking or savings account and may lead to low-interest loans and mortgages. A number of banks offer low-fee accounts and no overdraft or nonsufficient funds fees (NSF), such as a BankOn Certified Account. In addition, these accounts may provide free ATM and branch withdrawals.

Banks offer many different types of accounts and programs to fit your needs. To help you choose an account based on what is important to you, use our checklist: How to Pick a Bank Account.

To find an FDIC-insured bank in your area, visit BankFind. A number of organizations have compiled lists of banks that offer affordable accounts that can be opened online. You can find those organizations as well as some additional tools and resources at #GetBanked.


Want to learn more? Read the full article by visiting the FDIC website.