Knowing exactly what TurboTax card is and how does it work are some keys to deciding whether or not it is worth getting one for yourself.
One good thing about living in this day and age is the fact that almost everything is convenient. In fact, so convenient that all you need is just a click of a finger.
As when it comes to purchasing, gone are the days when people carry a huge amount of cash on their wallets. Today, having a card has become essential, needless to say, it has brought a lot of convenience to people.
But innovation continues. Today, companies continue to innovate to make things even more convenient for people. No wonder why even the tax filing service giant, TurboTax has already what they call as TurboTax prepaid card for their avid customers to use.
To be honest, when we first heard about the TurboTax card, we felt excited about it. So much that we had to look into what it has to offer.
Having said that, we understand that some of you also want to know what the TurboTax card is all about and what makes it different.
Thus, we are going to answer some of the basic customer questions about the TurboTax card, which include the following:
- What is TurboTax?
- What is Turbo Visa Debit Card? What is it for?
- Why get a Turbo Visa Debit Card?
- How to avail the Turbo Visa Debit Card?
- How to get your tax refund on the Turbo Visa Debit Card?
- Does TurboTax Card have fees?
WHAT IS TURBOTAX?
First and foremost, before getting to know what the Turbo Visa Debit Card is all about, we find it necessary to get to know the company behind it first, right?
So, what is TurboTax?
TurboTax is one of the well-known companies when it comes to tax preparation software. It is created by no less, Intuit, which has gained popularity because of its finance software, the Quickbooks that is very much used by a lot of giant companies not just in the United States but all over the world.
TurboTax is available only in the US and Canada. It particularly caters to make federal tax filing a breeze for both individuals and companies.
The software offers one of the most user-friendly interfaces when it comes to processing and electronic filing of tax returns for businesses and individuals.
Furthermore, TurboTax allows free processing and e-filing on non-commercial federal tax returns up to $28,500 gross income in the United States.
Get to know more about how TurboTax works on this video below:
Meanwhile, TurboTax offers five different packages for you to choose from. This includes the following:
– TurboTax Free Edition
As the name says, it is TurboTax’s free version, which is ideal for those with simple or basic tax preparation requirements particularly those who have no plans of claiming any deductions or credits except for the standard ones, the earned income tax credit or the child tax credit.
In particular, this version allows the filing of 1040 as well as a state return free of charge. However, you are not allowed to itemize or file any of the new Schedules 1-6.
– TurboTax Live Basic
This costs $79.99 filing for federal tax, while $34.99 per state. This version is basically the free version. However, it comes with on-demand video access to a tax pro in case you need help, advice, or final review when preparing your tax return.
– TurboTax Deluxe
Unlike the very limited free version, the TurboTax Deluxe allows you to itemize and claim other tax deductions and tax credits. It also includes the ItsDeductible feature, which is used primarily for calculating the value of donated items.
With this version, you can file a Schedule C. However, you are not allowed to report rental income or capital gains.
Furthermore, it comes with a Live version with on-demand video access if you need help, advice or final review.
This version costs $59.99 for federal filing only or $119.99 if you avail the TurboTax Live. Meanwhile, it costs $49.99 per state.
– TurboTax Premier
Basically, the TurboTax Premier version includes the features that are present in TurboTax Deluxe, plus the capability for reporting rental income, as well as investments. In the same way, the Live version can be used if you need help, advice, or want someone to do a final review of your return before filing.
This costs $79.99 for federal. If you add TurboTax Live, it will cost you $169.99. Same cost for state tax filing — at $44.99.
– TurboTax Self-Employed
This is the ultimate version of TurboTax. Using this allows you to enjoy all the perks of the previous versions plus deduction help and expense-tracking features. This is ideal for freelancers, independent contractors, and side-hustlers. As with the Live version, it offers the same kind of services.
The TurboTax Self-Employed version is priced at $119.99 for federal. If you wish to add TurboTax Live, it costs $199.99. Meanwhile, it costs $44.99 per state filing.
WHAT IS THE TURBO VISA DEBIT CARD? WHAT IS IT FOR?
As we have mentioned earlier, TurboTax is a well-known tax filing software. As stated above, it offers different versions from free to pricey ones. Basically, the software makes things easier for anyone preparing for tax filing. It guides the user through the fill in the blank entry screens that do the math, as well as the complicated tax worksheets automatically. Definitely, making tax filing so much more convenient for both individuals and businesses.
For a lot of Americans, using TurboTax is equally good as paying a tax professional to file taxes.
Now, since TurboTax is committed to making things convenient for its users, at the end of the TurboTax filing process, the software offers its users to avail the Turbo Debit Card, which, according to TurboTax, is “one of the easiest ways to get your tax refund after filing with TurboTax Online”.
The Turbo Debit Card is a reloadable Visa debit card that can be used anywhere as long as Visa debit cards are accepted within the US premises. You can use it via phone, online or even in stores.
You see, it does not only make getting your refund easier, but it also allows you to use it to make purchases. It’s basically like hitting two birds with one stone, right?
WHY GET A TURBO VISA DEDIT CARD?
So, the question now is, why do you have to avail of the TurboTax card? What are the things that will convince you that this card is worth it?
Well, according to Inuit, maker of TurboTax, by getting the Turbo Visa Debit Card, you will get to enjoy the following perks:
- It makes getting your tax refund easier and more convenient.
- Allows you to use the card anywhere Visa Debit is accepted in the United States.
- It allows you to track your account through its innovative app 24 hours a day, seven days a week.
- It allows you to stash extra funds in your Vault.
- It allows you to pay bills anytime, anywhere.
- It allows you to get direct deposit info.
- Find free ATMs
Furthermore, using the TurboTax card, lets you enjoy the following:
- Make your money go without overdraft fees
- No minimum balance fees
- No penalty fees
It also allows you to take advantage of the following features:
- ASAP Direct Deposit — You get to receive your pay up to 2 days prior to your supposed payday or get your government benefits for up to 4 days before benefits day.
- Green Dot Reload at the Register — This allows you to make a deposit at the register of more than 100,000 retail locations all over the country. This includes establishments such as Walgreens, Rite Aid, Walmart, 7-Eleven, Dollar General, and CVS.
- Money Pak — You can deposit cash using MoneyPak at more than 70,000 retailers nationwide like 7-Eleven, CVS, Dollar General, Rite Aid, Walgreens, and many more. More so, your friends and family can also send cash directly to your card. Also, you can add cash to your own card if you need to.
HOW TO AVAIL THE TURBO VISA DEBIT CARD?
To be able to avail of the TurboTax card, you will need to sign up for a Turbo Visa Debit Card. Once you are done, and as soon as your application gets approved, the card will be delivered to your doorstep or your preferred address in 5 to 10 business days.
As soon as you receive your card, you will need to activate it through the Turbo Debit Card website (https://turbodebitcard.intuit.com/). Once it’s successfully activated, you can now use it everywhere Visa debit is accepted in the country. Activation is easy, and in fact, the company will provide you with instructions along with the card to make it so much easier for you.
It is noteworthy to share that the Turbo Visa Debit Credit Card is provided by Green Dot Corporation. It is issued by the Green Dot Bank pursuant to a license from Visa U.S.A Inc.
By the way, in case you have waited long enough and have not received your card, it may be because of the following reasons as stated in the TurboTax website:
1. You’re using the TurboTax CD/Download software or the IRS Free File Program delivered by TurboTax.
2. Your application couldn’t be approved or wasn’t completely processed.
If you need help, you may visit TurboDebitCard.com or call their toll-free hotline at (888) 285-4169.
By the way, you have to be at least 18 years old to be able to avail of the TurboTax card.
HOW TO GET YOUR TAX REFUND ON THE TURBO VISA DEBIT CARD?
As stated in the TurboTax website, the moment you “choose to get your Federal tax refund deposited to a Turbo Visa Debit Card, TurboTax works with Green Dot to get the right account info to the IRS (and/or the State) to make sure the money gets put on your card“. Once the IRS approves your refund, the money will be immediately deposited electronically to your card.
Moreover, TurboTax also provides Refund Advance in a Turbo Visa Debit Card to some of its customers. Depending on your eligibility, and upon the approval for a Refund Advance, you will get your advance within 48 hours of the IRS accepting your tax return. Please note that selecting Turbo Visa Debit Card for your refund when filing your taxes does not result in an application for Refund Advance. You have to ensure you choose the Refund Advance option upon filing your taxes to apply for the Refund Advance.
DOES TURBOTAX CARD HAVE FEES?
You got to have attention to details when it comes to this matter.
Although the TurboTax card does not charge you during the first month upon receipt of your Turbo Visa Debit Card, please be aware that in the succeeding months, you will be charged with a $5.95 monthly fee.
However, you can get away with the fee if you maintain a balance of at least $50 in your card, which is not that high to be fair. But then, you may eventually not use this card to pay for small purchases for a long time.
The fees, however, does not end there. When using an ATM to get cash from your TurboTax card, you will be charged $2.50. That is on top of whatever fee the ATM itself charges. Even more, it will cost you 50 cents just to do balance inquiry through ATM.
To avoid the balance inquiry charges, you may instead do a balance check via phone, text, or online.
Although they do give away one (1) free withdrawal every month as long as you make the transaction in any an AllPoint network ATM.
Furthermore, if in case you lose or need to replace your card, you may do so for a $4.95 fee. As with reloading your card with money, there is a fee amounting to $4.95. However, there is a way to avoid being charged when reloading if you use direct deposit instead.
In addition to the information we’ve shared, we are also sharing some customer reviews on the TurboTax card.
Pretty happy with this card. I’ve had since February and don’t have fees and getting my paychecks a day or 2 early is really convenient. Plus the other perks of sending money and paying bills is very nice. Highly recommend this card.– John Foust (Posted on Google Play)
I love being able to use this card for my direct deposit from my employer. I love that I can send money to my different accounts fairly easily and check the balance on the card quickly. Customer service has been swift and helpful, too. The only thing I don’t love is the bill pay functionality between the website and the app. The last time I tried to set up bill pay, it crashed so frequently that eventually I gave up and paid my bill over the phone. Overall, a great and useful app!– Jess Hobson Schiszler (Posted on Google Play)
I absolutely love my turbo card! There are minimal fees. Really hardly ever any fees. Its user-friendly and I trust its security so much that I have my direct deposit linked to it– Asheley Cole (Posted on Google Play)
The Turbo Visa Debit Card is all good. It has its share of amazing features, at the same time, it also comes with a lot of rooms for improvement.
We like the fact that in terms of charges, it comes with very reasonable costs. Also, we appreciate the fact that it does not only serve as a tax refund channel, but it can be used on a day-to-day basis.
But the question here perhaps is, it is necessary to get one?
We thought it is not that necessary to avail of a TurboTax card. If you already have an existing bank account, you can instead use that. Have your refund deposited directly there. We actually did not find any difference when it comes to how fast it is credited to your account as compared to the TurboTax card.
The Turbo Visa Debit Card is, in our opinion, only applicable to those who do not have an existing bank account. Having a TurboTax card will ensure you get to receive your refund faster. However, do not forget to keep at least $50 in your account so as not to be charged.
FINAL THOUGHTS ON TURBOTAX CARD
True enough, living in this day and age, almost everything is made more convenient and to our advantage. This Turbo Visa Debit card is another thing. It makes getting tax refund faster, at the same time, allows its users to enjoy its perks, which are basically almost like any other bank card.
It’s nice knowing that companies like Intuit, maker of TurboTax, keep the convenience of their customers in mind. Apart from providing an impressive tax filing software, they give this option to sign up for a bank card for easier receipt of a tax refund.
So, do you have a Turbo Visa Debit Card? What can you say about it?
Are you considering getting one? With all that we have said, are you convinced that you should get one?