A Refund Transfer (RT) is a quick and cost effective way to receive money based on the federal tax refund. The IRS deposits the taxpayers refund within 7-14 days into a temporary account at the bank provider. Upon IRS funding, a refund transfer account fee and the tax preparation fees can be deducted from the refund and the balance is disbursed via one of several methods, including a Prepaid MasterCard. Funding times may vary depending on IRS processing procedures.