top of page
easy.png

​

What is an Easy Advance?

 

Easy Advance is a one-time loan not intended for long-term use. Your Easy Advance is subject to underwriting and approval by Republic Bank & Trust Company. You may receive an Easy Advance amount less than what you requested. A Finance Charge may be assessed based on your approved loan amount. Typically, your proceeds will be disbursed to you within 24 hours of Internal Revenue Service (IRS) acceptance of your Federal tax return. The Easy Advance is secured by and paid back with your tax refund but is not your actual tax refund.

​

  • You can file your tax return electronically and have the IRS or state issue your tax refund directly to your existing account without applying for an Easy Advance.

  • According to the IRS, if you file a tax return electronically and do not obtain an Easy Advance, you can expect to receive a tax refund within 21 days by direct deposit or mail. However, the IRS will not begin issuing refunds earlier than February 15th for Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC) related tax returns. If you mail your return and do not obtain an Easy Advance, you can expect to receive a tax refund within 6 weeks by direct deposit or mail.

  • To receive an Easy Advance, you are not required to choose a Refund Transfer.

  • To be eligible for the Easy Advance, your expected Federal refund must be above the set minimum threshold after any fees you have authorized are deducted. Additionally, your tax return and credit bureau information will be evaluated to determine the likelihood that it will be funded by the IRS. Your application for the Easy Advance may be denied if you have any delinquent child support or outstanding unpaid taxes, student loans or other federal debt.

  • If approved, repayment of the Easy Advance loan amount and Finance Charge (if applicable) is due upon receipt of your 2019 tax refund from the IRS and/or state taxing authority, which will reduce the amount of your refund received from the IRS and/or State. The remainder of your refund will be disbursed to you in the same manner you select on your Bank Product Application and Agreement.

  • Consult your tax preparer for details.

  • You may rescind the Easy Advance within 7 Business Days of your receipt of the Easy Advance proceeds by contacting Republic Bank at 866-581-1040.

  • If declined, you will not be charged a Finance Charge for the Easy Advance and your tax refund will still be routed to Republic Bank and disbursed to you in the same manner you select on your Bank Product Application and Agreement. If declined and you applied for an Easy Advance and Refund Transfer, you will still receive and be charged for the Refund Transfer.

  • Your tax preparer may pay a fee to Republic Bank & Trust Company for each approved Easy Advance. Your tax preparer is prohibited from passing this fee on to you.

  • The IRS and/or state taxing authority do not guarantee the amount or time of payment of your refund.

  • An Easy Advance may cost more than other sources of credit. Before applying for an Easy Advance, you should consider whether an Easy Advance is consistent with your personal needs and financial circumstances.

Disbursement Method Information:

  • If you choose an Easy Advance without a Refund Transfer, then the disbursement options available for you to receive your Easy Advance proceeds and tax refund are Direct Deposit or Prepaid Card.

  • If you choose a Refund Transfer in addition to the Easy Advance, your disbursement options are Bank Check; Direct Deposit; Prepaid Card; or Walmart Direct2Cash. You will receive both the Easy Advance and Refund Transfer proceeds by the same disbursement method.

  • If you choose a Prepaid Card and are approved for an Easy Advance a $5 monthly Plan fee will begin 30 days after receipt of the Easy Advance proceeds and your first Over the Counter Cash Withdrawal Fee will be waived.

 

Important Information for Joint Filers:

  • All Easy Advance applications are on an individual basis so only one taxpayer can apply.

  • It is solely your choice in determining who applies for the Easy Advance.

  • Only the applicant’s name will appear on the Easy Advance check.

 

Other Information:

  • For additional information about tax refund processing, please consult www.irs.gov or the applicable tax authority’s website.

  • Go to www.joinbankon.org for information about low-cost “starter” or “second chance” bank accounts and access to financial education resources.

Additional Details

  • Tax return will be evaluated to determine the likelihood that it will be funded by the IRS.

  • All EA Applications will be on an individual basis so only one taxpayer can apply. It’s the taxpayer’s choice in determining who applies for the EA.

  • Customers do not have to choose a Refund Transfer to apply for the Easy Advance.

  • Available to customers in all 50 states.

* An Easy Advance  is a loan secured by and paid back with your tax refund and is offered by Republic Bank & Trust Company, member FDIC, to eligible taxpayers. Loan amount options are based on your expected Federal refund less authorized fees. If approved for an Easy Advance, a Finance Charge will apply.  Loan is subject to underwriting and approval.  Easy Advance proceeds are typically available within 24 hours of IRS acceptance of tax return or within 24 hours for those filing before the IRS start date; however, if direct deposit is selected, it may take additional time for your financial institution to post the funds to your account. Contact your Tax Advisor to learn about the cost, timing and availability of all filing and product options. Valid at participating locations. Valid Jan. 2-Feb. 28, 2021.

bottom of page