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What is FastCashADVANCE?

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FastCashADVANCE is a tax time advance that gives taxpayers access to cash before the IRS can release it. FastCashADVANCE is a tool to help tax professionals attract and retain more clients.

Advance Amounts

With an advance approval rate of at least 80% or higher, as a national average, many clients will qualify for the maximum FastCashADVANCE amount of $250- $6,000. Taxpayers who don't qualify for the full amount may receive a reduced amount, or taxpayers may be declined. 

How much do taxpayers pay for FastCashADVANCE?

Pre-acknowledgment loans of $3,000 or less currently have an Annual Percentage Rate (APR) of 16%, and loans greater than $3,000 have an APR of 45%.

Post-acknowledgment loans of $250–$500 currently have an APR of 0%, and loans of $501–$3,000 have an APR of 16%, and loans above $3,000 have an APR of 45%. For example, for a post-acknowledgment loan of $2,000 with a repayment period of 30 days, the total amount payable in a single payment is $2,026.30 including principal and interest. Not all consumers will qualify for a loan or for the maximum loan amount.

Tax professionals may pay a fee for every approved FastCashADVANCE, regardless of the advance amount. Logon to the website for fee details. There is no fee if the advance is denied.

How do I qualify to offer FastCashADVANCE?

FastCashADVANCE is available to new and existing TPG clients.  A prior-year volume of 20 or more approved Refund Transfers with a funding rate of at least 80% is required to offer the product.

When is FastCashADVANCE available?

FastCashADVANCE is available starting January 2nd through the end of February.

When are advances issued?

Pre-ACK advances are issued upon loan approval. During tax season FastCashADVANCE advances will be reviewed for approval upon IRS accepted acknowledgement with funds disbursed within 24 hours of advance approval.

How are the advances issued?

FastCashADVANCE are issued as a check printed out of the tax professionals's office or as a Walmart MoneyCard, issued from the tax professional's office. Remaining funds are issued by the method selected by the taxpayer.

Where is FastCashADVANCE available?

FastCashADVANCE is available in all 50 states.*

 

* Check with software provider for availability.

Fast Cash Advance is an optional tax-refund related loan provided by First Century Bank, N.A., member FDIC (it is not the actual tax refund) and is available 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 from the refund. Fees for other optional products or product features may apply, and will be disclosed at the time of application. Tax returns may be filed electronically without applying for this loan. Loans are offered in amounts from $250–$6,000 and are offered both pre–IRS acknowledgment of the tax return and post-IRS acknowledgment of the tax return. Pre-acknowledgment loans of $3,000 or less currently have an Annual Percentage Rate (APR) of 16%, and such loans of greater than $3,000 have an APR of 45%. Post-acknowledgment loans of $250–$500 currently have an APR of 0%, and such loans of $501–$3,000 have an APR of 16%, and such loans above $3,000 have an APR of 45%. For example, for a post-acknowledgment loan of $2,000 with a repayment period of 30 days, the total amount payable in a single payment is $2,026.30 including principal and interest. Not all consumers will qualify for a loan or for the maximum loan amount. Offer and terms subject to change at any time without prior notice.

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