Online payment services could be the key to getting your tax refund faster.
You don’t even need a bank account.
FTC sues Intuit over TurboTax software
Which payment services will let me get the refund faster?
You can get your tax refund two days early, and you don’t need a bank account. Cash transfer apps like Venmo, Cash App, or PayPal could help you process your refund and get you money sooner. Read more about it here.
Cash transfer apps can have your deposits available immediately, which isn’t the case for most banks. This means you can get your money earlier because you don’t have to wait for the bank to process it, which could take up to a week.
IRS: Americans wait for refund following Tax Topic 152 notification
How to get your refund through Venmo
- Download the Venmo app on your phone and create an account or sign up
- Select the profile icon at the bottom right side of the screen
- Scroll down and select Direct Deposit
- Select “show account number” to access your Venmo account details
- When you file your tax return, enter your Venmo routing number. Once your taxes have been processed by the IRS, it will be sent to your Venmo account.
How to get your refund through Cash App
- Download the Cash App app on your phone and create an account or sign in
- Tap the Banking tab on the bottom left side of your screen shaped like a building
- Scroll down and select Direct Deposit
- Create a free Cash Card, tap Get Free Cash Card and follow the prompts
- Once you’ve done that, go back to the Direct Deposit tab and copy your routing and account numbers and use them when you file your taxes.
How to get your refund through PayPal
- Download PayPal on your phone and sign in or create an account
- Scroll through the top menu options and select Set up direct Deposit
- Click Get Started, read through the terms and conditions, click continue.
- Confirm your information with PayPal and submit.
- Upload a photo ID, Social Security, or ITIN document.
- After that, you’ll be able to access your routing and account information in your PayPal wallet.
When is my 2022 state tax return due?
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