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Refund Advantage Cash Advance Loan

kwhite1
Level 1

Refund advantage has confirmed that we are enrolled to print checks for the cash advance loan, but it isn't a disbursement option in ProSeries 2020.  ProSeries says it's a bank issue and the bank says it's a ProSeries issue.  Has anyone else had this problem? We have clients who are wanting loans, but we can give them to them if they want a check. 

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6 Replies 6
Beanie86
Level 2

Proseries cash advance loans applications are not ready to submit. I was just told by customer service that the loans will not be available until IRS begins to accept returns. There isn't even a submit button on the forms on Proseries as far as I can tell. 

Landry-Michael
Level 2

This sucks, because now that the start date is 2/12. This effectively disqualified all our clients.

gparch1
Level 3

That option seems to be in the ProSeries Professional software now.  However, customers cannot get a loan more than $1,000 due to some limitation between Refund Advantage and Intuit.  It does not make sense since Refund Advantage offers loans up to $6,000 through other platforms. Neither Intuit or Refund Advantage make this limitation clear when we signed up for the program.

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Landry-Michael
Level 2

Yes, the option is there, however:

Proseries will not allow us to "submit" returns to our funding banks for "pre-ack" approvals on these loans. Other software companies such as Drake, Crosslink, TaxWise, are allowing this. This puts us at a disadvantage in the market. The $1000.00 limit was set by proseriers. Now the kicker is this. TurboTax users (an intuit product mind you), can apply for the loans and can receive up to $3000. I have sent out an email to intuit about this 3 days ago... no response as of now. 

 

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kwhite1
Level 1

I haven't had any luck getting information out of them either.  Our ProSeries software shows that we are only enrolled in Direct Deposit, but we were approved through the back for checks as well for the Refund Advance and Pay by Refund. I've been on the phone with them for hours and both the bank and ProSeries just tell me it's the others mistake.  I'm glad we aren't able to provide "pre-ack" loans because we'd have no way to disburse them!

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Landry-Michael
Level 2

I honestly gave up trying to get a solid answer as to why. But I will say this we will be able to print the check's once we start finally on the back and pro series has everything blocked because they do not participate in pre ack loans.   The only positive news I've heard from that is they are looking into offering pre activation loans next year 2021

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