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What is Fast Cash Advance?

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Fast Cash Advance is a tax time advance that gives taxpayers access to cash before the IRS can release it. Fast Cash Advance 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 Fast Cash Advance amount of $500- $6,000.1  Taxpayers who don't qualify for the full amount may receive a reduced amount, or taxpayers may be declined. 

A Fast Cash Advance program is also available to Intuit ProSeries Tax customers with taxpayer advance amounts of $500 and $1,000.2 

How much do taxpayers pay for Fast Cash Advance?

Standard Fast Cash Advance loans of $500-$6,000 currently have an APR of 35.99%. For example, for a loan of $2,000 with a repayment period of 30 days, the total amount payable in a single payment is $2,059.16 including principal and interest.

Fast Cash Advance loans for ProSeries Tax Customers of $500 and $1,000 currently have an APR of 0%. For example, for a loan of $1,000 with a repayment period of 30 days, the total amount payable in a single payment is $1,000.00.

Tax professionals may pay a fee for every approved Fast Cash Advance, 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 Fast Cash Advance?

Fast Cash Advance 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 Fast Cash Advance available?

Fast Cash Advance is available starting January 2nd through the end of February to tax professionals enrolled in the Fast Cash Advance Early program offered with the Standard Fast Cash Advance program. Tax professionals enrolled in the standard Fast Cash Advance program and the Fast Cash Advance program for ProSeries customers may offer Fast Cash Advance from the first day of filing through the end of February.

When are advances issued?

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

How are the advances issued?

Fast Cash Advance are issued as a check printed out of the tax professionals's office, direct deposit to the taxpayer's bank account, or issued as a GO2bank™ Visa® Debit Card from the tax professional's office.3 Remaining funds are issued by the method selected by the taxpayer.

Where is Fast Cash Advance available?

Fast Cash Advance is available in all 50 states.4 

 

1 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 $500-$6,000 and are offered both pre-IRS acknowledgment of the tax return and post-IRS acknowledgment of the tax return. All loans have an Annual Percentage Rate (APR) of 35.99%. For example, for a loan of $2,000 with a repayment period of 30 days, the total amount payable in a single payment is $2,059.16 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.

2  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 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 of $500 and $1,000 and are offered upon IRS acknowledgment of the tax return. All loans have an Annual Percentage Rate (APR) of 0%. For example, for a loan of $1,000 with a repayment period of 30 days, the total amount payable in a single payment is $1,000.00. 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.

3  Cards issued by GO2bank, Member FDIC, pursuant to a license from Visa U.S.A., Inc. Visa is a registered trademark of Visa International Service Association. GO2bank also operates under the following registered trade names: Green Dot Bank, GoBank and Bonneville Bank. All of these registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage up to the allowable limits.

4  Check with software provider for availability.

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