What features does a Credit Karma Money™ account offer?

When filing your taxes with TurboTax, you have the option to receive your federal and state refund via direct deposit with a checking or savings account¹ with Credit Karma Money.

Here are some of the benefits.

100% free to open, no minimum balance

No inactivity fees. No annual fees.² Free withdrawals from a network of over 55,000 ATMs³ with Credit Karma Money Spend.

Early Payday

Get access to your paycheck up to 2 days early, and federal government benefits up to 5 days early when you set up direct deposit.⁴

Early Refund

Receive your tax refund up to 5 days early when you have it direct deposited with Credit Karma Money.

When it’s time to file, have your tax refund direct deposited with Credit Karma Money, to receive your funds up to 5 days early.⁵

5-day early program may change or discontinue at any time.

Automatic cash back

Earn real money, not points, on select everyday purchases with Credit Karma Money Spend.⁶

Credit Builder⁷

You could add 21 points to your credit score in on average 4 days by saving just $10 per paycheck.⁸

Credit Builder helps you save money and improve your credit score by showing consistent payment history. Once you reach $500 in savings, your saved funds are automatically deposited back into your Credit Karma Money account.

A connected paycheck⁹ or one-time direct deposit¹⁰ of $750 is required for activation.

Learn more about Credit Karma Money.

For Credit Karma Money: Banking services for Credit Karma Money accounts are provided by a partner bank, Member FDIC. Maximum balance and transfer limits apply per account. Credit Builder is not provided by the partner bank.

¹ A maximum of 6 withdrawals per monthly savings statement cycle may apply.

² Third-party fees may apply. Please see Account Terms & Disclosures for more information.

³Free withdrawals available at select ATMs in the Allpoint® network. We charge a $2.50 fee for each ATM withdrawal outside this network. This fee is waived with direct deposits of at least $750 into your Spend account per calendar month. Other third party fees may apply for ATM transactions outside this network.

⁴ Early access to paycheck or federal government benefits is compared to standard electronic deposit and is dependent on and subject to payor submitting payroll or benefit payment information to the bank before release date. Payor may not submit payment information early.

⁵ If you choose to pay your tax preparation fee with TurboTax using your federal tax refund or if you choose to take the Refund Advance loan, you will not be eligible to receive your refund up to 5 days early. 5-day early program may change or discontinue at any time. Up to 5 days early access to your federal tax refund is compared to standard tax refund electronic deposit and is dependent on and subject to IRS submitting refund information to the bank before release date. IRS may not submit refund information early.

⁶ Restrictions may apply. Purchases made with your Credit Karma Visa® debit card only. Check your Spend account for cash back feature. Cash back amounts vary based on participating merchants and are subject to change. Cash back rewards may take up to 45 days to be deposited into your account. Cash back rewards program powered by Dosh.

⁷ A connected paycheck or one time direct deposit(s) of at least $750 is required for activation. Your direct deposit(s) must be received in the 2 calendar months prior to application or within a calendar month 90 days after application submission to activate your plan. Credit Builder plan requires you to open a line of credit and a savings account, both provided by Cross River Bank, Member FDIC. Credit Builder is serviced by Credit Karma Credit Builder. Members with a TransUnion credit score is 619 or below at the time of application may be promoted to apply for Credit Builder. If your score increases over 619, you may no longer see these prompts.

⁸ Members with a TransUnion credit score of 619 or below who opened a Credit Builder plan and had it reported on their TransUnion report saw an average credit score increase of 21 points in 4 days of activating the plan. Late payments and other factors can have a negative impact on your score, including activity with your other credit accounts.

⁹ Credit Karma Money partners with Pinwheel to securely connect you with thousands of payroll providers.

¹⁰ Direct deposit(s) are electronic deposits of compensation for services (such as payroll, salary, or government benefits) made into your Credit Karma Money Spend account. Person-to-person transfers, transfers from one account to another or from other financial institutions, and Instant Transfers (including Instant Transfers for Earned Wage Access) are not considered direct deposits.