Direct deposit is the most beneficial option for receiving your tax refund. When requesting a check, you open up the possibilites of delaying refund or possibly even having your check get lost in the mail. When you choose direct deposit, the IRS deposits your tax refund directly into your bank account. Along with reliability, direct deposit is also processed much faster than having a check issued to you. The IRS deposits your refund into your bank account in as little as 8 days. Checks are processed the earliest of 16 days.