What's the difference between 5 Days Early and Refund Advance?

When you file with TurboTax, you have two options to receive your refund early with a Credit Karma Money account - 5 Days Early or Refund Advance. With 5 Days Early, you could get your refund up to five days early.¹ For Refund Advance, you can apply for a loan based on your expected federal refund, up to $4,000.

5 Days Early

When you open a Credit Karma Money checking or spending account, you can choose 5 Days Early for that account. Your tax refund will be deposited there.

With this option, TurboTax works with Credit Karma, and MVB Bank, Member FDIC, to get your account information to the IRS (and/or the State) so they can deposit your refund into your account. 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 account.

Refund Advance

If you apply for a Refund Advance loan and it’s approved, you’ll typically receive your Refund Advance within one hour of the IRS accepting your e-filed return.

You’ll receive your Refund Advance on a Credit Karma Visa® Debit Card that you can spend anywhere Visa is accepted. There are $0 loan fees and 0% APR on the Credit Karma Visa® Debit Card. 

Provided by First Century Bank, N.A. Member FDIC, 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 part of your refund as a Refund Advance.

This offer is available until February 29, 2024.

Learn more about the Refund Advance program.

¹If 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.