Bank Products

For more information call 703-497-1040

Refund Anticipation Loan

This is the fastest method for receiving money based upon the federal tax refund. After the IRS accepts the tax return, the money is usually received within 2 to 3 days!

The RAL application is submitted to Santa Barbara Bank & Trust and is considered for approval once the IRS accepts the electronically-filed tax return. When approved for the RAL*, the qualified amount of the refund is paid to the taxpayer (after all fees are deducted) by cashier's check.

[Note: For on-line or personal tax program users, money is disbursed using the ACH Direct Deposit method only.

The ACH Direct Deposit method involves SBBT transferring money to the taxpayer's bank account, and may take 2 to 3 business days for the deposit to reach the checking or savings account.]

*If the IRS accepts the return but a RAL is not approved for any reason, the account is automatically converted to an RTC (explained in the next section). Only the RTC rate applies. If the loan is not for the entire amount of the refund, the remaining portion will act as an RTC, with no additional charge for the RTC portion. If the IRS does not pay the balance owed to Santa Barbara Bank & Trust, the taxpayer is responsible for repayment.
 

Refund Transfer Check

For a more cost-effective but still quick method of receiving money based upon the federal tax refund, the Refund Transfer Check (RTC) is a great option.

The money may be available in 9-16 days**, and is the most preferred method by taxpayers! Once the IRS accepts the electronically-filed tax return, a temporary account is established at SBBT.

When the IRS deposits the refund into the temporary account at SBBT, the money is paid to the taxpayer (after all the fees are deducted) by cashier's check.

** The IRS may delay the refund for some reason. If this happens, please contact them directly by calling IRS Tele-tax 1-800-829-4477, or IRS Customer Service 1-800-829-1040.

Refund Transfer Direct Deposit

The most cost-effective method of receiving money based on the federal tax refund is the Refund Transfer Direct Deposit (RTDD). The money may be available in 10-17 days***.

Once the IRS accepts the electronically filed tax return, a temporary account is established at SBBT.

When the IRS deposits the refund into the account at SBBT, the money is paid to the taxpayer (after all fees are deducted) via the Federal ACH Direct Deposit method. (ACH method involves SBBT receiving the initial deposit from the IRS, then making disbursement to the taxpayer's bank account.

Depending on the taxpayer's bank, it may take an additional 1 to 3 business days before deposit reaches the checking or savings account).

*** The IRS may delay the refund for some reason. If this happens, please contact them directly by calling IRS Tele-tax 1-800-829-4477, or IRS Customer Service 1-800-829-1040.

State Refund Transfer

A State Refund Transfer (SRT) can be added to any federal RAL or RT product, and can be received in just days! Upon receipt of the taxpayer's state tax refund deposit, Santa Barbara Bank & Trust uses the same RAL or RT account and disburses the money based upon the state refund the same way the federal account is being disbursed. (SRT may not be available in certain states; funding times vary from state to state.)

RAL DEPARTMENT