The Refund Advance is an optional tax-refund related loan provided by MetaBank (it is not the actual tax refund) at participating locations. The amount of the loan and applicable interest will be deducted from tax refunds and reduce the amount that is paid directly to the taxpayer. Fees for other optional products or product features may apply. Tax returns may be filed electronically without applying for this loan.
When can I get a Refund Advance?
The Pre-season Refund Advance is available beginning January 2, 2023 to the day the IRS’ open season, approximately January 20, 2023.
The In-season Refund Advance is available approximately January 20, 2023 to approximately February 24, 2023.
What are the different loan amounts that are available?
There are three (3) tiers to the available loan amounts. Loans are offered in the amounts of 25%, 50%, or 75% of the expected tax refund from $250-$6,000.
Is there a fee for the Refund Advance?
There is no fee for the first tier of 25% of the expected tax refund, with a maximum loan amount of $2,500.
For the second and third tiers, loans in the amounts of 50% or 75% of the expected tax refund there is an Annual Percentage Rate (APR) of 36.0%. For example, $3,000 representing 50% of expected refund borrowed over 24-day terms, total amount payable in a single payment is $3,071.01 including interest.
How can I prequalify for Refund Advance?
Check out our refund calculator to see how much you could prequalify for. Availability is subject to satisfaction of identity verification, eligibility criteria, and underwriting standards.
How long do I have to pay back the Refund Advance?
If you obtain a Refund Advance, the amount you owe will be deducted directly from your tax refund so you don’t need to worry about writing a check to repay your loan amount.
How do I receive the Refund Advance?
Loans can be disbursed via check from our office, a prepaid card or directly deposited into a qualified account of your choosing.
How long will it take to get my Refund Advance?
If you are approved and choose to have your Refund Advance disbursed via check or a prepaid card, you will receive the loan amount within minutes to 24 hours; or, if you choose Direct Deposit, you will receive the loan amount in one to five business days.
Can I apply for a Refund Advance with self-employment income only?
If you have valid forms of income verification, you are able to apply for the loan.
Will I be approved for a Refund Advance?
Approval for a Refund Advance is not guaranteed. Approval is subject to satisfaction of identity verification, eligibility criteria, and underwriting standards.