What's the difference between TurboTax’s Up to 5 Days Early Refund Delivery Options and Refund Advance loan?

When you file with TurboTax, you have three options to receive money fast:  

• Get up to $4,000^† instantly¹ with a Refund Advance loan with $0 loan fees and 0% APR.
• Get your federal refund Up to 5 Days Early² in any bank account, guaranteed³ for a fee.
• Get your federal refund up to 5 days early⁴ in a Credit Karma Money^TM account⁵ for no additional cost.

Here is a brief description of each of the fast money options:

Up to 5 Days Early Refund Delivery

Up to 5 Days Early into your Preferred Bank Account: TurboTax’s Up to 5 Days Early refund delivery gives you the flexibility to have your federal refund deposited into your preferred bank account up to 5 days earlier than the date your refund would have arrived if sent from the IRS directly. Terms apply. 

Up to 5 Days Early - Credit Karma Money checking account: When you open and deposit your refund into a Credit Karma Money account, your tax refund could be deposited up to 5 days early for no additional cost.

With this option, TurboTax works with Credit Karma and a partner bank to get your account information to the IRS so they can deposit your refund into your account up to five days earlier. You can use the Credit Karma refund tracker to see when your federal refund is expected to hit your account. Learn more about the other features of a Credit Karma Money checking account. 

With both refund options, there are some situations where you might not be able to receive your refund early. These include not having a sufficient refund, IRS delays, or your bank’s policies. However, if you choose Up to 5 Days Early into your Preferred Bank Account, and can’t receive your refund at least a day early due to these reasons, you won’t be charged the service fee.                    

Please note that you may also be able to receive your federal refund early through your bank, credit union or other financial institution. Terms, fees, and delivery dates may vary. Check with your financial institution for details.

Refund Advance

If you apply for a Refund Advance loan and are approved, you could receive your Refund Advance in as little as 60 seconds from IRS acceptance of your e-filed return. Most customers receive funds within 15 minutes of acceptance. 

Your Refund Advance funds will be deposited into your Credit Karma Money checking account, and you can start spending immediately with a virtual Credit Karma Visa^® Debit Card⁶ anywhere Visa is accepted. A physical Credit Karma Visa^® Debit Card will be mailed to you after you open the checking account inside of TurboTax.  

Refund Advance loans may be issued by First Century Bank, N.A. or WebBank. The loan will be equal to a portion of your anticipated refund in one of 10 amounts: $250, $500, $750, $1,000, $1,500, $2,000, $2,500, $3,000, $3,500, or $4,000. You’ll only receive what you’ve been approved for as a Refund Advance loan.

This offer is available until February 28, 2025, or the date that available funds have been exhausted, whichever comes first.

Learn more about the Refund Advance program.

† Loan details and disclosures for the Refund Advance program:

If you expect to receive a federal refund of $500 or more, you could be eligible for a Refund Advance loan. Refund Advance loans may be issued by First Century Bank, N.A. or WebBank, neither of which are affiliated with MVB Bank, Inc., Member FDIC. Refund Advance is a loan based upon your anticipated refund and is not the refund itself. 0% APR and $0 loan fees. Availability of the Refund Advance is subject to satisfaction of identity verification, certain security requirements, eligibility criteria, and underwriting standards. This Refund Advance offer expires on February 28, 2025, or the date that available funds have been exhausted, whichever comes first. Offer, eligibility, and availability subject to change without further notice.

Refund Advance loans issued by First Century Bank, N.A. are facilitated by Intuit TT Offerings Inc. (NMLS # 1889291), a subsidiary of Intuit Inc. Refund Advance loans issued by WebBank are facilitated by Intuit Financing Inc. (NMLS # 1136148), a subsidiary of Intuit Inc. Although there are no loan fees associated with the Refund Advance loan, separate fees may apply if you choose to pay for TurboTax with your federal refund. Paying with your federal refund is not required for the Refund Advance loan. Additional fees may apply for other products and services that you choose.

You will not be eligible for the loan if: (1) your physical address is not included on your federal tax return, (2) your physical address is located outside of the United States or a US territory, is a PO box or is a prison address, (3) your physical address is in one of the following states: IL, CT, or NC, (4) you are less than 18 years old, (5) the tax return filed is on behalf of a deceased person, (6) you are filing certain IRS Forms (1310, 4852, 4684, 4868, 1040SS, 1040PR, 1040X, 8888, or 8862), (7) your expected refund amount is less than $500, or (8) you did not receive Forms W-2 or 1099-R or you are not reporting income on Sched C. Additional requirements: You must (a) e-file your federal tax return with TurboTax and (b) currently have or open a Credit Karma Money™ Spend (checking) account with MVB Bank, Inc., Member FDIC. Maximum balance and transfer limits apply. Opening a Credit Karma Money™ Spend (checking) account is subject to eligibility. Please see Credit Karma Money Spend Account Terms and Disclosures for details. 

Not all consumers will qualify for a loan or for the maximum loan amount. If approved, your loan will be for one of ten amounts: $250, $500, $750, $1,000, $1,500, $2,000, $2,500, $3,000, $3,500, or $4,000. Your loan amount will be based on your anticipated federal refund to a maximum of 50% of that refund amount. You will not receive a final decision of whether you are approved for the loan until after the IRS accepts your e-filed federal tax return. Loan repayment is deducted from your federal tax refund and reduces the subsequent refund amount paid directly to you.

If approved, your Refund Advance will be deposited into your Credit Karma Money™ Spend (checking) account typically within 15 minutes after the IRS accepts your e-filed federal tax return and you may access your funds online through a virtual card. Your physical Credit Karma Visa Debit Card* should arrive in 7 - 14 days. *Card issued by MVB Bank, Inc., Member FDIC pursuant to a license from Visa U.S.A. Inc.; Visa terms and conditions apply. Other fees may apply. For more information, please visit: https://support.creditkarma.com/s/article/Are-there-fees-with-a-Credit-Karma-Money-Spend-account.

If you are approved for a loan, your tax refund after deducting the amount of your loan and agreed-upon fees (if applicable) will be placed in your Credit Karma Money™ Spend (checking) account. Tax refund funds are disbursed by the IRS typically within 21 days of e-file acceptance. If you apply for a loan and are not approved after the IRS accepts your e-filed federal tax return, your tax refund minus any agreed-upon fees (if applicable) will be placed in your Credit Karma Money™ Spend (checking) account.

If your tax refund amounts are insufficient to pay what you owe on your loan, you will not be required to repay any remaining balance. However, you may be contacted to remind you of the remaining balance and provide payment instructions to you if you choose to repay that balance. If your loan is not paid in full, you will not be eligible to receive a Refund Advance loan in the future.

1 - IRS accepts returns starting late-Jan. Acceptance times vary. You could get funds in as little as 60 seconds, most customers receive funds within 15 minutes of acceptance.

2 - Up to 5 Days Early to Your Bank Account: 

Money movement services are provided by Intuit Payments Inc., licensed as a Money Transmitter by the New York State Department of Financial Services.  For more information about Intuit Payments' money transmission licenses, please visit https://www.intuit.com/legal/licenses/payment-licenses/.

Personal taxes only. Your federal tax refund will be deposited to your selected bank account up to 5 days before the refund settlement date provided by the IRS (the date your refund would have arrived if sent from the IRS directly). The receipt of your refund up to 5 Days Early is subject to IRS submitting refund information to us at least 5 days before the refund settlement date. IRS does not always provide refund settlement information 5 days early. You will not be eligible to receive your refund up to 5 Days Early if (1) you take a Refund Advance loan, (2) IRS delays payment of your refund, or (3) your bank’s policies do not allow for same-day payment processing. Up to 5 Days Early fee will be deducted directly from your refund prior to being deposited to your bank account. If your refund cannot be delivered at least a day early, you will not be charged the Up to 5 Days Early fee. Up to 5 Days Early program may change or be discontinued at any time.

3 - If your federal refund is not deposited into your selected bank account at least 1 day before the IRS refund settlement date (the date it would have arrived if sent from the IRS directly), then you will not pay the Up to 5 Days Early fee. See Terms of Service for more details.

4 - Credit Karma Money up to 5 days early: 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.

5 - For Credit Karma Money Spend (checking): Banking services provided by MVB Bank, Inc., Member FDIC. Maximum balance and transfer limits apply.6 Credit Karma Visa® Debit Card issued by MVB Bank, Inc., Member FDIC, pursuant to a license from Visa U.S.A. Inc. Visa terms and conditions apply.