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Question

Why did I not recieved my advance loan when I signed the consent to disclose my information for the refund advance loan

Forum|Forum|6 years ago
February 8, 2020
15 replies
0 views

If I am not recieving the advance that was agreed upon, then I don't believe they have the right to give the banks my tax information?

TurboTax Free Edition Online

BridgetpachecoAuthor

The agreement letter that I signed with Turbo Tax was consent for them to process my approved advance loan and send the banks my tax information for processing. Now I am being told that i was denied...

BrandiLO

Employee

The initial approval is just a pre-qualification. You must select the refund advance option, efile the return, and then the final decision will be emailed to you. For more detailed information, please click here. You can also read the terms and conditions for the refund advance by clicking here.

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BridgetpachecoAuthor

Below, I highlighted in bold the signed Consent disclosure that I recieved and signed.......

It's either deliberately misleading customers, or signing on false terms.....?

Consent to disclose your information for the refund advance loan and for a Turbo® Visa® Debit Card We're going to disclose the tax information described from your 2019 tax return to First Century Bank (the lender), BorrowWorks (the lender service provider) and Green Dot Bank (the issuer of the card) to process your Refund Advance loan, administer and communicate with you regarding the loan program, and to issue and manage a Turbo® Visa® Debit Card account for you.

princessct24

No, that is a lie they will NOT be able to assist anyone. They just tell you “we don’t know why you’re declined”. Same crap happened to me! I was told I was approved and even directed me to create an account with credit karma? My refund was ACCEPTED by the IRS on 1/21/22. And no money? Called the bank and she tells me I wasn’t qualified? WHAT? It’s all a big scheme probably for credit karma to get more people to sign up for a checking account with them. I’m not using that crap now! What’s the point?

Critter-3

Although you are pre approved based on what is on your return the bank doing the loans will also review your situation AND your credit report to determine if they will approve the advance ... nothing is certain until the return is filed ... that is in the contract you signed.

https://ttlc.intuit.com/community/refunds/help/important-offer-details-and-disclosures-about-refund-advance/00/27527

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 (minus any stimulus payment credit, also known as Recovery Rebate Credit). You will not receive a final decision of whether you are approved for the loan until after you file your taxes. Loan repayment is deducted from your federal tax refund and reduces the subsequent refund amount paid directly to you.

Mchase1422

FCB REFUND ADVANCE LOAN AGREEMENT

A. Status of Application; Approval and Funding of Loan. The amount of the Loan for which you qualify will depend, in part, on the amount of your estimated income tax refund. We have not yet committed to make any Loan. We will only be committed to make a Loan if and when we disburse Loan proceeds to you in the manner set forth below. Based on your representations made during the application process and in this Agreement, we agree as follows. If your request for a Loan is approved and all conditions to funding are met, we will advise you of the final approved amount of your Refund Advance Loan. You acknowledge that receiving this Refund Advance Loan has no impact or effect upon the timing of receiving your tax refund. If your federal income tax refund (“Tax Refund”) is paid by the IRS before the Loan is funded, your Loan will not be approved and the Loan will not be funded.

This is the loan agreement everyone signed for the advanced refund

2shankzup

Same thing signed the advance agreement , setup karma account, filed , received approval for loan during the filing process , return accepted , then SILENCE !!

spoke to SBTG they told me the delay is due to so many returns being processed it takes time for TT to transmit the info to SBTG. They are the ones who actually issue the advance. I was told as soon as they receive the return status they will make their decision. Seems a bit deceiving. I believe what they are referring to when they state most get their refund advance in 1hour after IRS accepts is when SBTG receives acceptance from the IRS. The IRS did not start accepting returns until 1/24 so anything prior to that would not have had an initial approval should see some approvals within the next couple days. Check your refund status at SBTPG.com once you show as accepted their I’m pretty sure you will receive a final approval or denial from TT once your return status is updated with SBTPG.

seems like they should have done a better job explaining the process as there are going to be a bunch of upset customers who feel they were lied to about the process.

Critter-3

This always happens at the beginning of the efile system ... and the SBTG bank is no longer being used by TT so I am not sure who gave you the info but it seems all the processing banks are having the same issue.

For questions regarding your Refund Advance status, you will need to reach out to Credit Karma. You can contact them by clicking here.

Although TurboTax and Credit Karma are both a part of Intuit, they are separate products. Please see Is Credit Karma a part of TurboTax? for more information.

Faxxe83

Yeah same thing with me! I was approved for the refund advance loan irs accepted my efile and nothing! I tried calling first century and can't get a real person on the line. The only reason I got the credit karma account was for this loan. This is ridiculous!

Mchase1422

I got mine on the 25th @ like 745pm and I filed on the 24th it says give it 24-48 hours for return to be accepted and mine was then almost 24 hours later I got the deposit but I also already had a credit karma account and I don’t know if that made the process a little quicker

Lhawk36

Where is my advance loan? I've talked with Turbo tax and they said to talk to credit karma. No credit karma says talk to Turbo tax. What is going on here?

jennxifer

That happened to me as well. Then then tell me they sent it to credit karma, to call them. They gave me trans union#s phone number. You can't call credit karma apparently. I called turbo tax again. They told me that I hadn't filed yet. Then said they had to find my return. I said well I have an email where u took like 100 bucks for doing the advance. Why didn't u just pay me then. Then they said I didn't fill out the paperwork for the advance. I was like why did I have to fill out credit karma stuff. Idk I am going to call them again today.

mhays1261

The problem is its deceptive marketing. I was told I was approved for a bonus when I filled my taxes on the 21st. I checked today to see what the status is only to find out I haven't been approved even though TT said I was. They're doing this to get a ton of KK accounts made for a quota. I'm calling BBB tomorrow to file a complaint for deceptive business practices

BabyDoll86

Your website made me sign, accessed my credit karma, stated that credit scores would not be used. Made me approve either the refund advance and did not allow a change in where the money should go since I was denied. And the number ending in 8122 is nothing more than lies and a loop. Per the letter I was denied because my income was $0?

45marie

I received the approval email and also confirmed it with TurboTax, and I have yet to receive the amount approved for into my Credit Karma spend account that I have. I have been in touch with Credit Karma and have emailed everything they have requested and still, it has not been resolved. Everything went through and was emailed on the 26th of January.

Dese75

I haven't either and CK doesn't have any information about the loan but they did give me a confirmation number to prove that I already spoke with someone at CK. What is that about????

Also I filed my taxes on January 24, 2022. #Turbotaxfail