How to Update Routing and Account Number on Turbotax

Updating routing and account numbers on Turbotax can be a lifesaver when it comes to receiving your tax refund quickly and securely. However, this process can be daunting for those who have never done it before. In this article, we will guide you through the steps to update your routing and account number on Turbotax, so you can ensure a smooth tax refund process.

Step 1: Gather the Required Information

Before you begin, make sure you have all the necessary information. You will need your bank account number, routing number, and the type of account you have (checking or savings). You can find this information on a check from your bank or by logging into your online banking account.

Step 2: Access Your Turbotax Account

Log into your Turbotax account and select the option to "Add or Edit Direct Deposit Information." This will take you to the page where you can update your routing and account number.

Step 3: Enter Your Information

On the page that appears, enter your bank account information, including the routing number and account number. Make sure to double-check that the information is correct before submitting it.

Step 4: Verify Your Information

Turbotax will ask you to verify your information one more time. This is to ensure that your tax refund goes to the correct account. If everything is correct, click "Submit."

Step 5: Check Your Account

Once you have submitted your updated information, you can check your bank account to confirm that the changes have been made. This may take a few days, but once the update is complete, you will be able to receive your tax refund directly to your bank account.

Investment Tip: Consider Direct Deposit for Investments

Direct deposit is not only useful for tax refunds but also for investing. By setting up direct deposit for your investment accounts, you can ensure that your money is automatically invested and earning interest. This can be a great way to save time and ensure that your investments are on track.

In conclusion, updating routing and account numbers on Turbotax is a simple process that can save you time and ensure the security of your tax refund. By following these steps, you can easily update your information and be on your way to receiving your refund directly to your bank account. Additionally, considering direct deposit for investments can be a smart move for those looking to save time and maximize their investment returns.