What is an Easy Advance or Prefund? (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 7-13 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.

Bank Offerings/Advance Info

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 Prefund/Easy Advance and a Refund Transfer, and are not approved for an Advance, the taxpayer will continue to receive a Refund Transfer. 

TAXPAYER'S RESPONSIBILITY

Once the tax return has been transmitted and accepted by the IRS, TPG will send an automated notification to the taxpayer with instructions to sign up at MYPREFUND.COM. The taxpayer is to then select Get My Cash. IRS acceptance can take up to 24 hours after the return is transmitted. 

The taxpayer is given 48 hours to complete the process once the taxpayer receives the TPG notification. The Prefund offer will expire and revert to a Regular RT if the processing time is extended beyond the 48-hour time window.  

NOTE:
THE TAXPAYER'S CARD WILL NOT BE ACTIVATED NOR THEIR ACCOUNT CREATED AT MYPREFUND.COM UNTIL AN IRS ACCEPTANCE OF THEIR RETURN IS CONFIRMED.