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How to offer FastCashADVANCE to clients

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1. Once the return is prepared, and the taxpayer is expecting a refund, and the taxpayer would like FastCashADVANCE, select the product in the tax preparation software when prompted.

2. Select the taxpayer’s preferred method for receiving the advance. Select "cashier's check" if the taxpayer would like to return later to pick up a cashier’s check or "Walmart MoneyCard" if the taxpayer would like to receive their money without returning for a check.

If the taxpayer selects a Walmart MoneyCard, take one of the sealed card envelopes from the card stock provided by TPG. Enter the 10 digit external ID displayed in the envelope window in to the appropriate field in the software’s bank application. Hand the sealed envelope to the taxpayer and have the taxpayer open it to agree to the terms and conditions. Tip: Avoid "Where's my refund?" calls by providing the taxpayer's email address, so they will receive notifications when their money is ready.

3. Have the taxpayer sign the disclosure and agreement.

4. Transmit the return as soon as possible to submit the advance application.

 

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. Loans offered in amounts of $500 or 25%, 50%, or 75% of your expected tax refund from $500 - $6,000. Loan in the amount of $500 or 25% of your expected refund has an Annual Percentage Rate (APR) of 0.00%, a minimum loan amount of $500 and a maximum loan of $2,000. Loan in the amounts of 50% or 75% of your expected tax refund have an 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. Availability is subject to satisfaction of identity verification, eligibility criteria, and underwriting standards.

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