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Offer details and disclosures for the Refund Advance program

by Intuit Updated 1 month ago

If you're receiving a federal refund of $500 or more, you could be eligible for a Refund Advance, a loan provided by First Century Bank, N.A., Member FDIC not affiliated with MVB Bank, Inc. Member FDIC.

Refund Advance is a loan based upon your anticipated refund and isn't the refund itself. 

The Refund Advance loan has a 0% APR and zero loan fees. 

To apply for the Refund Advance, you must e-file your federal tax return with TurboTax. 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 February 29, 2024, or the date that available funds have been exhausted, whichever comes first. Offer, eligibility, and availability subject to change without further notice.

Refund Advance is facilitated by Intuit TT Offerings Inc. (NMLS # 1889291), a subsidiary of Intuit Inc. 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.

You will not be eligible for the loan if:

  1. Your physical residence is located outside of the United States, a U.S. territory, a PO box, or a prison address.
  2. Your physical residence is in one of the following states:
    • IL
    • CT
    • NC
  3. You're less than 18 years old.
  4. The tax return filed is on behalf of a deceased person.
  5. You're filing certain IRS forms (1310, 4852, 4684, 4868, 1040SS, 1040PR, 1040X, 8888, or 8862).
  6. Your expected refund amount is less than $500, or
    • You didn't receive Forms W-2 or 1099-R, or
    • You're not reporting income on Schedule C.
  • You must e-file your federal tax return with TurboTax.
  • You must be or become a Credit Karma member.
  • You also must 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.
  • Note: If you previously opened a Credit Karma Money Spend (checking) account and that account has been closed, you will not be eligible for Refund Advance.

Opening a Credit Karma Money™ Spend (checking) account is subject to identity verification. Please see 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 a portion of your anticipated federal refund to a maximum of 50% of that refund amount.

You won't receive a final decision of whether you are approved for the loan until after you file your taxes and the IRS has opened. 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 4 minutes after the IRS acceptance of your e-filed federal return. You may access your funds online through a virtual card and 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. Third-party fees may apply.

Learn more about Refund Advance.

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