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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 $500- $6,000.1  Taxpayers who don't qualify for the full amount may receive a reduced amount, or taxpayers may be declined. 

A FastCashADVANCE 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 FastCashADVANCE?

Standard Fast Cash Advance loans of $500-$6,000 currently have an APR of 39.95%. For example, for a loan of $2,000 with a repayment period of 30 days, the total amount payable in a single payment is $2,065.67 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.

Loans subject to the Military Lending Act have a lower rate. 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 to tax professionals enrolled in the FastCashADVANCE Early program offered with the Standard FastCashADVANCE program. Tax professionals enrolled in the standard FastCashADVANCE program and the FastCashADVANCE program for ProSeries customers may offer FastCashADVANCE 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 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, direct deposit to the taxpayer's bank account, or issued as a Green Dot Prepaid Visa® Card from the tax professional's office.3 Remaining funds are issued by the method selected by the taxpayer.

Where is FastCashADVANCE available?

FastCashADVANCE 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 39.95%. For example, for a loan of $2,000 with a repayment period of 30 days, the total amount payable in a single payment is $2,065.67 including principal and interest. Loans subject to the Military Lending Act have a lower rate. 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  Must be 18 or older. Registration, online access, mobile number and identity verification is required to open an account and access all features. See Cardholder Agreement at GreenDot.com for fees, terms and conditions. Card issued by Green Dot Bank, Member FDIC, pursuant to a license from Visa U.S.A., Inc. Visa is a registered trademark of Visa International Service Association. Green Dot Bank operates under the following registered trade names: GoBank, Green Dot Bank 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. ©2021 Green Dot Corporation.

4  Check with software provider for availability.

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