What is an Easy Advance or Fast Cash Advance? (All Banks Data)

Each Bank Partner offers a version of an Advance Product, which allows a client to obtain funds in advance of receiving their tax refund. You may find below important information one would need to know in relation to applying for an Easy Advance, or a Prefund.

Application Information for Advance Products 

An Advance is not the client’s actual tax refund. It is a loan secured by a client’s tax refund, which will be repaid out of their tax refund in an estimated 21 days. Once the Advance is approved, associated fees are charged. Disbursements of the Advance are sent out upon a return acknowledgment-usually within 24 hours. The amount of the Advance is determined by the banks.

The IRS does not guarantee payment of the anticipated tax refund or a specific date on which it will disburse the refund. Additionally, if a client has state or federal tax-related debt that the IRS is authorized to collect, this will affect the refund amount to the client. This could also affect the collection of ERO fees. 

An Advance may be applied for alone or joined with a Refund Transfer. If a taxpayer applied for a Fast Cash Advance/Easy Advance and a Refund Transfer, and are not approved for an Advance, the taxpayer will continue to receive a Refund Transfer. 

Pre-Ack Fast Cash Advance/Pre-ACK Easy Advance are the same as a standard advance with one exception. They are issued after the return has been transmitted before the IRS acknowledges the return. These are only available during the window between January 2nd and the when the IRS begins accepting returns. Typically they are no longer available once HUB Testing begins.