Metabank Tax Refund [How To Set Up Direct Deposit]

Tax season can be a little stressful for all of us. However, not having a traditional bank account can leave you worried about how you’ll receive your refund. Even if you do use traditional financial services, you may find yourself faced with other problems come tax season. 

What if you need your refund as soon as possible – is there any way to get your owed refund earlier? You may not be eligible for tax breaks, so what if you need money now?

If you use MetaBank, you may be able to get an early tax loan before your actual refund arrives. To receive this, you’ll need to set up a direct deposit and know exactly how to manage your MetaBank account. 

In this article, we’ll discuss what you need to know about MetaBank and tax, as well as a step-by-step guide on how to set up a direct deposit with MetaBank. 

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What Is MetaBank? 

MetaBank provides prepaid cards for virtually all types of users. MetaBank cards work like traditional debit cards, but usually with fewer credit options. For example, you’re unlikely to be able to buy on credit or use your overdraft – once the money in your account is gone, you won’t be able to make any more purchases. 

This makes MetaBank a good choice for users with poor credit, or for anybody who doesn’t wish to be tied down to a traditional bank account. 

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MetaBank and Tax – What You Need to Know 

Your tax bill can take a serious chunk out of your annual earnings. While you will get this money back as part of your tax refund, the loss of earnings could have a negative impact on your finances. 

There are options to get around this. MetaBank (and other banking services) offer tax loans. These loans allow you to get your tax payments back immediately. When your tax refund comes through, the bank will take back the payment and any applicable interest from your refund. 

For this reason, you shouldn’t take out a loan for the exact amount of your tax refund, as there will be extra charges (such as interest and handling fees) that will need to be paid. If you loan more money than you’re owed via tax refunds, you’ll find yourself losing money. 

These loans usually don’t have an impact on your credit score, presuming that you pay off the loan and interest in full when your tax refund comes through. However, be sure to read the fine print and possibly talk to a financial advisor before loaning any significant amount of money. 

How to Set Up A Direct Deposit Through MetaBank 

One of the best ways to receive a tax refund is to set up a direct deposit. This allows you to receive your money directly into your bank, rather than worrying about paper checks and waiting in line to cash physical checks. 

Before we discuss how to set up a direct deposit, let’s talk about why. What benefits can you expect to get from setting up a direct deposit?

  • Faster processing times. In short, you’ll get your direct deposit tax refund much more quickly than you would a paper check. Payments made through direct deposit can be received up to two days quicker than other methods. 
  • Access to a high yield savings account. The high yield savings account is an optional extra which is available when you sign up for a direct deposit. This provides the opportunity to make more money from your savings, without any extra effort. 
  • Lower monthly fees. MetaBank accounts require a monthly maintenance fee. With a direct deposit, you may enjoy lower fees. 
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To set up a direct deposit, you’ll first need to apply for an ACE Flare account. You can apply for an ACE Flare here

Just about any US citizen of age is eligible to open an ACE Flare account. No credit checks are required. While you’re opening an ACE Flare account, you can opt-in for the direct deposit function. 

You will likely need some personal information to open an ACE Flare account. For example, this may include your date of birth, current address and ZIP code, and possibly even your social security number. ACE Flare accounts are available to most people, and you should be able to open an account with no problems at all. 

The option to set up a direct deposit should be given when you open your account. If not, call the MetaBank headquarters and ask for help. 

If you need more help with setting up a direct deposit, go to an ACE Cash Expression Location. 

Frequently Asked MetaBank Tax Questions

Whether you use a direct deposit or not, working out your tax can be a little stressful. So, let’s discuss a few commonly asked questions about MetaBank and tax procedures.

  • What tax company uses MetaBank? 

MetaBank is often used to provide services to banks like H&R Block and Jackson Hewitt. However, if you have serious questions about MetaBank and your tax, feel free to contact MetaBank or talk to a financial adviser.

  • Where can you cash a MetaBank check?

Anywhere with a Vcom check cashing kiosk should allow you to cash a MetaBank check. The ACE Cash Expression Locations should also allow you to cash checks, or else direct you to a location that does.

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The Bottom Line

Lots of banks offer tax refund loans, including MetaBank. The purpose behind MetaBank is to make banking and financial transactions easy and simple for everyone. Tax refund loans allow users to get their refunds sooner, and they will have the ability to repay those loans once their tax refunds arrive. 

Of course, you should be very careful when taking out a loan of any kind. You may be quite sure that you’ll get all the money you’re owed in your tax refund, to keep an eye on interest terms and hidden fees when taking out a loan. If you aren’t careful, you may find that you’ve borrowed more money than you intended.