Does Chime offer tax refund advances? Need info on early refund deposit

Tax professional here. Chime doesn't offer tax advances like H&R Block or Jackson Hewitt. They do offer 2-day early direct deposit for regular paychecks, but tax refunds are different. The earliest you'll get your refund is when the IRS releases it.

Hey! Have you checked out taxr.ai? It's a super helpful tool that can analyze your transcript and tell you exactly when to expect your refund. It costs $4.99 but totally worth it - saved me tons of anxiety last year. Here's the link: https://taxr.ai

i used chime last year and got my refund same time as everyone else tbh

The whole early deposit thing with Chime is kinda misleading ngl. They only release it when they get it from IRS 🤷‍♀️

ur better off going thru HR block if u need an advance. they do RAL's up to $3500

Just want to clarify something - Chime does advertise "get your tax refund up to 2 days early" but this only applies once the IRS actually processes and releases your refund. They don't offer actual tax advances like some tax prep companies do. If you really need money before your refund comes, you might want to look into other options, but be careful of high fees!

Just to add some official info - the IRS actually started processing returns on January 27th this year, so if you filed last week you're in the first batch! You can check your refund status on the IRS "Where's My Refund" tool. And yeah, Chime will get it to you 1-2 days early once the IRS releases it, but that's it - no actual advances like H&R Block does.

Hey Emma! Just wanted to share my experience - I've been using Chime for my refunds for the past 2 years. While they don't offer actual tax advances (like fronting you money before the IRS processes), they do get your refund to you about 2 days earlier than traditional banks once the IRS releases it. Last year I got mine on a Wednesday when most of my friends with regular banks got theirs on Friday. It's not a huge difference but every bit helps! Since you filed early, you should be in good shape once processing really gets going.

I work at a local VITA site and can confirm what others have said - Chime doesn't do actual tax advances where they front you money. However, since you filed early (even though processing didn't start until Jan 27th), you're positioned well for when the IRS starts releasing refunds. Pro tip: make sure you have your AGI from last year's return handy to check "Where's My Refund" - it won't show up there until the IRS actually starts working on your return. The 2-day early deposit from Chime is legit though, I've seen clients get theirs on Thursday when traditional banks release on Saturday.

Just wanted to add that if you're really strapped for cash while waiting for your refund, there are some other options to consider. Credit unions sometimes offer small emergency loans to members, and some employers have earned wage access programs where you can get advances on your paycheck. Also, if you have a good relationship with your bank, they might work with you on overdraft protection or a small personal loan. The fees are usually way better than those tax advance places. Hang in there - since you filed early, you should hopefully see your refund in the next few weeks once the IRS gets through their backlog!