TurboTax tax refund advance requirements
To qualify for a tax refund advance from Intuit TurboTax, you need to meet the following criteria:
- Federal refund is at least $500
- E-filing your federal tax return through TurboTax
- At least 18 years old
- File your 2019 taxes before February 7, 2020
- Not filing an Illinois, North Carolina, Rhode Island or Vermont state tax return
- Not filing a 1310, 1040SS, 1040PR, 1040X, 8888 or 8862 form
TurboTax offers its refund advances through Green Dot Bank, which might have additional eligibility requirements not listed.
How TurboTax’s tax refund advance works
Rather than filling out a separate application, you can select a refund advance as part of the tax-filing process when e-filing with TurboTax.
You’ll receive your advance on a prepaid debit card, the Turbo Visa Debit Card, which will be mailed to you within five to 10 days. However, Intuit will also email you your temporary card information within 48 hours so you can start spending your advance immediately. When your refund is processed by the IRS, the rest of your funds will be loaded onto your debit card — minus the advance you already received and your tax preparation fee.
How much you’re able to receive is based on the size of your expected federal refund:
|$500 to $999||$250|
|$1,000 to $1,499||$500|
|$1,500 to $1,999||$750|
|$2,000 to $2,999||$1,000|
|$3,000 to 3,999||$1,500|
How much does it cost?
Intuit TurboTax doesn’t charge any interest on your refund advance. However, you might need to pay a tax preparation fee to file through TurboTax, which varies depending on which service you sign up for. But you don’t have to pay this fee up front — you can have it taken out of your refund after the IRS processes it.
While TurboTax issues its refund on a Turbo Visa Debit Card, you can withdraw cash at no cost from its network of 19,000 ATMs. These are available in every state.
What documents do I need to apply?
Intuit TurboTax doesn’t list any additional documents you need to apply for the tax refund advance, though you’ll definitely need to have your W-2 and last year’s tax information to e-file your taxes through Intuit TurboTax.
Pros and cons
Intuit TurboTax offers some benefits that set it apart from other tax refund advance providers. But there are a few reasons you may want to go with another option.
- No cost if you use TurboTax’s free edition
- Withdraw cash for free from its network of ATMs
- Access advance as soon as an hour after approval
- No advances over $2,000
- Must file before February 7, 2020 to qualify
- Not available in IL, NC, RI or VT
Will applying affect my credit?
No, applying for a tax refund advance with Intuit TurboTax won’t affect your credit. However, Green Dot Bank may perform a soft pull of your credit to confirm you meet its eligibility requirements when you apply through Intuit TurboTax.
TurboTax reviews and complaints
|BBB customer reviews
4.6 out of 5 stars, based on 430 customer reviews
1.6 out of 5 stars, based on 61 customer reviews
|Customer reviews verified as of
27 May 2020
TurboTax gets mostly negative reviews. Many were upset over having to pay a fee for TurboTax’s services after using the free version for years. And several reported having trouble reaching customer service or getting a refund. If you’ve used TurboTax for free in the past, make sure you’re still eligible before you sign up.
3 tax prep sites like TurboTax
|H&R Block||$250 to $3,500||0%||Yes, but not stated||February 29, 2020||No||Read review|
|Jackson Hewitt||$200 to $3,200||0%||Starts at $48||February 23, 2020||No||Read review|
|Liberty Tax Service||$500 to $6,250||35.99%||Not stated||February 28, 2020||No||Read review|
Not what you’re looking for? Compare other personal loan options
How do I apply?
You can apply online by e-filing your taxes through Intuit TurboTax. Follow these steps to get started:
- Visit Intuit TurboTax’s website and click Start for free.
- Sign in to your TurboTax online account or create one by selecting the service that best fits your finances.
- Select Refund advance as your refund option, then file your taxes.
If approved, you may have access to your advance within an hour by receiving an email with your temporary card information. You can use this to shop online the same day you apply.
TurboTax will then send you your permanent prepaid debit card within five to 10 business days.
Miss the deadline to file with TurboTax? Read our guide to other alternatives to tax refund advances.
Frequently asked questions