If you file today your return will be PENDING until the IRS either accepts or rejects it which may not be until sometime on or about 2/12 although they do pull some returns in test batch prior to that date ... there is no guarantee that yours will be pulled early so don't hang your hat on that happening.
About the advance :
You do not get the money until the e-file has been ACCEPTED by the IRS (just posted by IRS ... processing start date for 2020 returns is 2/12) AND you are APPROVED for the loan ( just because you prequalify doesn’t mean the loan will be approved and issued after you file). You also have to agree to receive your refund on the prepaid TurboTax Visa. AND if you are not approved the method of receiving the refund cannot be changed … it will still be processed thru the third party bank and be funded on the prepaid Visa Card.
https://turbotax.intuit.com/refund-advance/
Make sure to scroll down to read the fine print ...
Offer details and disclosures for the Refund Advance program
- If you’re receiving a federal refund, you could be eligible for a Refund Advance on a Turbo® Visa® Debit Card issued by Green Dot Bank, Member FDIC. If approved, you will receive a virtual card for online use, which will arrive within a day of the IRS accepting your e-filed federal return. Use your virtual card until you activate your physical Turbo® Visa® Debit Card, which will arrive in 5 to 10 business days of IRS acceptance and loan approval. Your virtual card expires in four years or upon activating your physical Turbo® Visa® Debit Card. 0% APR & $0 loan fees. This offer is available until February 8, 2021, or until available funds have been exhausted, whichever comes first. Availability subject to change without further notice.
- Refund Advance is a loan based upon your anticipated refund and is not the refund itself. To apply for the Refund Advance, you must file your taxes with TurboTax. Availability of the Refund Advance is subject to satisfaction of identity verification, certain security requirements, eligibility criteria, and underwriting standards. Refund Advance is provided by First Century Bank, N.A., Member FDIC, not affiliated with Intuit or Green Dot Bank, Member FDIC.
- Separate fees apply if you choose to pay with your federal refund. Paying with your federal refund is not required for the Refund Advance loan.
- Not all consumers will qualify for a loan or for the maximum loan amount. If approved, your loan will be for one of eight amounts: $250, $500, $750, $1,000, $1,500, $2,000, $2,500, or $3,000. Your loan amount will be based on a portion of your anticipated federal refund. You will not receive a final decision of whether you are approved for the loan until after you file your taxes. Loan repayment is deducted from your federal tax refund and reduces the subsequent refund amount paid directly to you.
- Fees may apply for other products and services.
- Your loan proceeds will be available on a Turbo® Visa® Debit Card issued by Green Dot Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. The Turbo Visa Debit Card opening is subject to identity verification. 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. Green Dot is a registered trademark of Green Dot Corporation. You may access your loan proceeds by multiple methods without paying additional fees. Other fees apply to the card, which are viewable prior to applying. Please see Deposit Account Agreement for details.
- You will not be eligible for the offer if: (1) your physical residence is located outside of the United States, a US territory, a PO box or a prison address, (2) your physical residence is in one of the following states: IL, or NC (3) you are less than 18 years old, (4) the tax return filed is on behalf of a deceased person, (5) you are filing certain IRS Forms, (6) your expected refund amount is less than $500, or (7) you are using any of our tax products where a professional is completing your taxes. You also must be approved by Green Dot Bank, Member FDIC to receive a Turbo® Visa® Debit Card.
- If you are approved for a loan, your tax refund after deducting the amount of your loan and minus any agreed-upon fees will be placed on a Turbo® Visa® Debit Card. If you apply for a loan and are not approved your tax refund will be placed on a Turbo® Visa® Debit Card minus any agreed-upon fees. Approved pending confirmation of loan tier amounts in contract and state licenses approved.
- Refund Advance is a service offered by Intuit TT Offerings Inc. (NMLS # 1889291), a subsidiary of Intuit Inc.
