Jackson Hewitt uses multiple banks depending on which refund advance product you choose

Jackson Hewitt does not use a single bank for all refund advances. The bank that holds your money depends on which advance product you select at tax time. The two main routes are the Refund Advance Loan (sometimes called a RAL) and the Refund Transfer (RT). Each uses different banking partners, and the difference matters because it affects how long you wait for your money and what fees you pay.

When you take a refund advance at Jackson Hewitt, you are borrowing against your expected tax refund. The IRS sends your actual refund to the bank that Jackson Hewitt partners with, not to you directly. That bank then releases the advance funds to you, usually within one to two business days. The bank's job is to hold the refund when it arrives and make sure Jackson Hewitt gets paid back before you get the remainder.

Key Takeaways

  • Jackson Hewitt's refund advance partners change year to year, so the bank holding your money in 2024 may not be the same as 2023.
  • Refund Advance Loans (RALs) and Refund Transfers (RTs) use different banks and have different fee structures and timing.
  • The bank information appears in your loan documents at the time you sign, not in advance on the website.
  • Your actual tax refund goes to whichever bank Jackson Hewitt designates, regardless of which bank you normally use.

How to find out which bank is handling your specific advance

Jackson Hewitt does not publish a master list of which bank you will use before you explore. The bank assignment happens during the process process, and you will see the bank name and account details in your loan agreement or disclosure documents before you sign.

When you sit down with a Jackson Hewitt tax professional or explore online, you will receive a Truth in Lending Act (TILA) disclosure that names the lender and the bank that will receive your refund. Read this document carefully — it will show the bank's name, the account number where your refund will land, and the exact fees you will pay. Do not sign until you have this information in front of you.

If you have already received your advance and want to know which bank is holding your refund, check your loan documents or call Jackson Hewitt's customer service line. They can tell you the bank name and the account number associated with your specific loan.

Refund Advance Loans versus Refund Transfers: different banks, different timing

A Refund Advance Loan is a short-term loan that Jackson Hewitt makes to you. The bank that partners with Jackson Hewitt for RALs acts as the lender's bank — it holds the refund when it arrives and ensures Jackson Hewitt gets repaid. You typically receive the advance within one business day. The loan carries interest and fees, usually totaling between $50 and $150 depending on the loan amount and your state.

A Refund Transfer is different. Instead of a loan, you are paying a fee to have your refund routed through a specific bank account. The bank receives your refund directly from the IRS, deducts the RT fee, and sends the remainder to you or to a prepaid card. Refund Transfers often cost less than RALs but may take slightly longer because the IRS has to process the routing instruction. The bank used for RTs is often different from the bank used for RALs.

Both products require you to authorize the IRS to send your refund to a bank account you do not own. This is legal and standard practice for tax refund advances, but it means your refund does not go to your personal bank account first.

Why Jackson Hewitt changes banking partners

Jackson Hewitt negotiates contracts with banks each tax season. These partnerships are not permanent. A bank that handled refund advances in 2023 may not do so in 2024, and a new bank may take its place. The company does this to manage costs, comply with regulatory changes, and maintain relationships with lenders willing to fund refund advances.

This means you cannot assume the same bank will be involved year to year. If you used a Jackson Hewitt refund advance last year, the bank holding your refund this year may be completely different. Always check your current-year loan documents to see which bank is named.

What happens after the IRS sends your refund to the bank

Once the IRS deposits your refund into the bank account designated by Jackson Hewitt, the bank's role is to hold the money temporarily. Jackson Hewitt's fees and interest are deducted first. The remaining balance is then transferred to you — either directly to your personal bank account, to a prepaid card, or to a check, depending on which option you chose when you signed up.

The timeline from IRS deposit to your receipt usually takes one to three business days. If you chose a prepaid card, the card is activated as soon as the funds arrive. If you chose direct deposit to your personal account, the transfer happens next. Checks are the slowest option and can take five to seven business days after the bank processes the payment.

If there is a problem — for example, the IRS rejects the refund or reduces it — the bank notifies Jackson Hewitt, and Jackson Hewitt contacts you. You may owe the difference between the advance you received and the actual refund amount.

Fees and what they cover

The bank does not charge you directly. Jackson Hewitt charges you a fee for the advance, and that fee is deducted from your refund before it reaches you. The fee covers the cost of the loan (if you chose a RAL), the bank's processing, and Jackson Hewitt's service.

Fees vary by state and by product. A Refund Advance Loan might cost $75 to $150. A Refund Transfer might cost $35 to $75. Some states cap the fees Jackson Hewitt can charge; others do not. Ask for the exact fee amount in writing before you sign any documents.

What to do if you have questions about the bank holding your refund

Contact Jackson Hewitt directly using the phone number on your loan documents or receipt. Have your loan number or Social Security number ready. Jackson Hewitt's customer service can confirm which bank is holding your refund, provide the account number, and explain the timeline for when you will receive your money.

If you are concerned about the bank or the fees, you can decline the refund advance and file your taxes normally. The IRS will send your refund directly to your personal bank account or by check, with no fees and no third-party bank involved. This takes longer — typically three to five weeks — but you keep the full refund amount.

Frequently Asked Questions

Can I choose which bank holds my refund advance?

No. Jackson Hewitt assigns the bank based on its current partnerships. You can choose the product type (Refund Advance Loan or Refund Transfer), and different products may use different banks, but you cannot select a specific bank by name.

Will my refund go to my regular bank account?

Not directly. The IRS sends your refund to the bank that Jackson Hewitt designates. That bank deducts fees and then transfers the remainder to your personal bank account, prepaid card, or check, depending on what you chose.

What if I do not recognize the bank name on my loan documents?

That is normal. Many of the banks that handle refund advances are not consumer banks you would use for everyday banking. They are specialized financial institutions that work with tax preparation companies. The bank is legitimate and FDIC-insured. If you want to verify, search the bank's name online or ask Jackson Hewitt for the bank's website and regulatory information.

Can the bank keep my refund if something goes wrong?

The bank holds your refund temporarily but cannot keep it. If the IRS sends the full amount you expected, the bank processes it according to Jackson Hewitt's instructions. If the IRS reduces or rejects your refund, Jackson Hewitt contacts you about the shortfall, but the bank releases what the IRS actually sent.

How do I know if my refund has arrived at the bank?

Jackson Hewitt or the bank will notify you by phone, email, or text when your refund is received and processed. You can also call Jackson Hewitt's customer service line to ask for the status. The IRS does not notify you directly when it deposits money into a third-party bank account.