As recently as last month we had dividends paid to us that were incorrect. In total, it was more than $2,000 for one of the holdings. The next day, the payment was withdrawn. This is how it has been with the smaller niche banks since day one.
The first time it happened we didn't know the payment was incorrect and happily invested the money. It wasn't as fun the next day when we discovered that the account was overdrawn and we had to transfer money from our other bank. That month, more money was involuntarily invested than planned. Last Thursday we received several tax refunds totaling close to $1,600 at one of the niche banks.
If this refers to the ordinary tax refund, it should, like all previous years, first be paid during the first quarter of the following year, not during the last quarter of the current year. Whether it is an improvement by the nisch bank to be faster with repayment or an error remains to be seen. I'm hoping for the former.
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