What Is the FTB MCT Refund Charge on Bank Statement?

Navigating the intricate world of tax refunds often involves deciphering cryptic entries on your bank statement. The FTB MCT refund charge is one such puzzle, leaving many individuals puzzled about its origins and implications. 

In this comprehensive guide, we’ll demystify the FTB MCT refund charge, shed light on California’s Middle-Class Tax Refund (MCTR), and provide valuable insights into managing your refund effectively.

What is the CA middle-class tax refund?

Before delving into the bank statement jargon, let’s rewind to 2022 when the Golden State decided to share its wealth through a one-time Middle-Class Tax Refund (MCTR). This initiative aimed to alleviate the impact of rising inflation for eligible California residents. The best part? You didn’t need to lift a finger to claim it. If you filed a 2020 California tax return and met the income requirements, the Franchise Tax Board (FTB) automatically sent you a refund between October 2022 and January 2023.

What Is the FTB MCT Refund Charge on Your Bank Statement?

What Is the FTB MCT Refund Charge?

Now, what about that FTB MCT refund charge? Simply put, it’s the official label attached to your MCTR when it hits your bank account. Think of it as a sophisticated stamp saying, “Here’s your tax refund – California loves you!” It’s not as dramatic, but the sentiment is there.

Eligibility for FTB MCT Refund

The California Franchise Tax Board (FTB) has established specific criteria to identify individuals within the middle-class income bracket who may be eligible for this refund.

To determine your eligibility for an FTB MCT Refund, consider the following factors:

  1. Income Threshold: The FTB evaluates your annual income as a primary determinant for eligibility. Your total income must fall within the defined range set by the FTB for individuals in the middle-class category.
  2. Filing Status: Another crucial aspect is your filing status on your tax return. The FTB takes into account various filing statuses, such as single, married filing jointly, head of household, etc., when assessing eligibility.
  3. Residency in California: To qualify for the MCT Refund, you must be a resident of California during the applicable tax year. Non-residents are typically ineligible for this refund.
  4. Tax Year Specifics: The FTB MCT Refund pertains to a particular tax year, and eligibility hinges on your income and filing status for that specific period.
  5. Age Consideration: Certain age-related criteria may impact eligibility. The FTB may have specific requirements for individuals above or below a certain age to qualify for the refund.
  6. Dependent Status: If you are claimed as a dependent on another person’s tax return, your eligibility for the MCT Refund may be influenced.
  7. Other Tax Credits: Your eligibility for additional tax credits and deductions can also affect your qualification for the MCT Refund.
  8. Exemptions and Adjustments: Various exemptions and adjustments on your tax return may influence your eligibility status for the refund.
What Is the FTB MCT Refund Charge on Your Bank Statement?

Direct Deposit Update: Did Your MCTR Land?

Most Californians received their MCTR via direct deposit to the same bank account used for their 2020 tax refund. If you haven’t seen it by now, don’t panic! Check your statements for deposits between October 2022 and January 2023. You might find it hiding under the FTB MCT Refund banner.

Identifying Your MCTR on Your Bank Statement:

To spot your MCTR, keep an eye out for these clues:

  • Transaction name: Look for terms like “FTB MCT Refund,” “MCT Refund,” or “CA Middle-Class Tax Refund.”
  • Transaction date: The deposit should have occurred between October 2022 and January 2023.
  • Transaction amount: This should match the MCTR amount you were eligible for, as indicated on the FTB website or your tax return.

How to transfer a California middle-class tax refund to bank account?

If you received a debit card for your MCTR, transferring the funds to your preferred bank account is a breeze:

  • Activate your card: Visit mctrpayment.com or call 1-800-240-0223 to activate your card and set up a PIN.
  • Register your preferred bank account: Do this online at mctrpayment.com or via the Money Network Mobile App.
  • Initiate the transfer: Follow the prompts to transfer the desired amount from your MCTR card to your bank account. It’s usually free and takes 1-3 business days.


As you navigate the complexities of tax refunds, especially when dealing with specific state programs like California’s Middle-Class Tax Refund, understanding associated charges, such as the FTB MCT refund charge, is crucial. By staying informed, monitoring your bank statements, and opting for direct deposit, you can streamline the experience and ensure you make the most of this tax relief initiative. Enjoy the gift from the Golden State and use it wisely to bolster your financial freedom.

Read to know more about LBK or LC Charge on Your Bank Statement.


What is middle class in California?

Defining “middle class” in California is tricky, but a family of four typically needs at least $69,064 annual income to be considered middle-class in 2023, due to the high cost of living.

What is middle class tax refund tracker?

There isn’t actually a specific “Middle-Class Tax Refund Tracker” for California’s MCTR program. The Franchise Tax Board (FTB) doesn’t offer an individual tracking system, however, you can still check your refund status in a few ways:
FTB’s MCTR Website: Visit the official MCTR website and use the “MyEstimate” tool to see your estimated refund amount and expected payment date. You’ll need your Social Security number or Individual Taxpayer Identification Number (ITIN) and filing status.
Check Your Bank Statements: If you received your MCTR via direct deposit, it should have appeared on your bank statement between October 2022 and January 2023 with a description like “FTB MCT Refund” or “CA Middle-Class Tax Refund.”
MCTR Payment Website: If you received your MCTR on a debit card, you can register and check your balance on the MCTR Payment website.

How much will I get?

Curious about your California MCTR payout? Simply head over to the Franchise Tax Board’s handy calculator. Plug in your adjusted gross income and filing status, and voila, it estimates your refund amount! No waiting, no fuss, just a quick answer to your financial question.

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