![]() TurboTax offers a fast refund via its ASAP Direct Deposit. Zelle reviews BBB Turbo Card Direct Deposit If the ATM charges you fee, TurboTax does not refund your cash advance fees. Using an ATM withdrawal to get cash from your TurboTax card is free, but only if you use an in-network ATM. Remember your whole refund gets deposited onto the TurboTax card, even though you only get up to 50% of your refund in advance. This is the big TurboTax Card con as people try and turn their Turbo Card into cash. This year, there is no monthly fee for the TurboTax debit card. The first month you have the TurboTax Visa Refund card, there is no monthly charge. In this case, the devil is in all the fees for the TurboTax Refund card. Remember, gas stations do weird things with debit cards if you pay at the pump, so be careful when using it that way. I have a Starbucks card that works just like this, only it doesn’t have the sneaky fees that push this card from being a legit card to being very close to being a scam. The difference is that you can refill it. It is very much like a gift card with a prepaid amount on it. For those of you who don’t have much experience with prepaid credit cards, it works the same as a debit card only instead of being attached to a checking or savings account at your bank, funds are attached to the card itself. Rather, the card is the same thing as a Turbo Tax debit card, but instead of a bank account, it has the funds from your IRS refund. You can use your debit card at stores, and to pay bills that allow payment via credit cards.ĭespite the Visa logo on the card, there is no credit card feature to the refund card. You can use things like Venmo or Zelle to send money to friends and family. You can’t use a debit card to pay your credit card for example. This will work like a champ for payments online, but don’t expect anyone to take it in person based on your word that it is real.Įven when you get your real TurboTax debit card, it is important to remember that it still is not the same as cash. A virtual card is just a credit card number, expiration date, and CVC code. TurboTax deposits your refund advance money on your debit card in just a few minutes, and then emails you a “virtual card” that you can use right away. The good news that you can get that part of your refund fast. $700 put on the TurboTax card when your refund comes through from the IRS.$500 put on the TurboTax Visa debit card right away.TurboTax will then deduct the $500 advance. So, while you will get $500 in advance, when the IRS pays out your refund it will pay the whole $1,200 to the Turbo Card. If you are getting a $1,200 refund, the maximum refund advance amount is $500. The most important TurboTax card trick is that your whole refund will be deposited onto your TurboTax card even though you will only get up to 50% in advance. However, chances are you’ll be better off by getting your refund a different way. ![]() So, technically, everything is on the up and up. Like all legitimate businesses, Intuit, maker of TurboTax, covers itself in a sea of fine print and disclosures buried deep beneath the suggestion that this refund method is actually advantageous for the taxpayer filing their taxes. That being said, the whole thing borders on being a TurboTax Refund Card scam. The TurboTax advance is available for a percentage of you refund amount, no more than 50%. There are no up-front fees, and there is no interest on the loan. This is not like the Rapid Refund scams of years gone by. One is a TurboTax Refund Advance, which is really a loan against your income tax refund. There are two options for a faster refund. Green Dot Bank is most familiar for its reloadable debit cards you can buy at 7-11 and other places, especially drug stores. The Turbo Card is a Visa card offered through Green Dot Bank. At the end of the Turbo Tax filing process, the software offers users the ability to get their tax refund via a prepaid Visa card, which is kind of like a TurboTax debit card. ![]()
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