Santa Barbara Bank And Trust withholding IRS Electronic Funds Transfer Barbara California

SBBT is flat out LYING and holding funds after the IRS confirmed that they went through.

SBBT has been under scrutiny in the past:

financefocused.com/personal-finance/tax-refund-controversies.php

Another Class Action Lawsuit might straighten them out.

Do the math - thousands of people, millions of dollars - and SBBT earns the interest by LYING that the IRS didn't send the funds - AFTER GETTING CONFIRMATION FROM THE IRS THAT IT WAS SENT!!!

SBBT has more excuses than Juan Epstein from "Welcome Back Kotter".

The Federal Reserve says: "If a financial institution doesn't follow the provisions of the EFT (Electronic Funds Transfer) Act, you may sue for actual damages (or in certain cases when the institution fails to correct an error or recredit an account, for three times actual damages), plus punitive damages of not less than $100 or more than $1,000. You are also entitled to court costs and attorney's fees in a successful lawsuit. Class action suits are also permitted.

If an institution fails to make an electronic fund transfer or to stop payment of a preauthorized transfer when properly instructed by you to do so, you may sue for all damages that result".

I hope that some law firm steps up to the plate and takes on SBBT and their LYING TO THE PUBLIC. The IRS should not allow SBBT to be involved in ANYTHING dealing with taxpayers money, especially due to the fact that they have been manipulative with their income tax refund dealings in the past.

What most people fail to see is that there is NO reason for SBBT to ever handle your tax refund. Intuit (TurboTax) is scamming users by leading them to believe that your refund cannot be sent directly to your account at your own financial institution, but rather must be handled by a third party, who, by the way, is going to charge you $29.95 to do so. How much of that $29.95 do you suppose gets kicked back to Intuit?

This is after you have already paid Intuit $29.95 to file electronically.

What makes it even worse, is that Intuit displays their disclosure screens in such a manner that most are not aware that there are TWO fees for $29.95 involved, you are led to believe there is only one, until it is too late to cancel. I am amazed that they are allowed to get away with this, but they will never get my business again.