Get your tax refund 2 days sooner with Venmo. Here’s how

This story is part of Taxes 2022, CNET’s coverage of the best tax software and everything else you need to get your return filed quickly, accurately and on-time.

Getting your tax refund back days sooner than you expected is a nice surprise when you file your taxes. But is it possible if you don’t have a bank account? Yes — using a cash transfer app like Venmo, Cash App or PayPal, you can set up an account to have your refund money sent to you.

The IRS is urging taxpayers to file electronically and set up direct deposit to get their refund back quicker since the backlog of tax returns has carried over into 2022. (According to the IRS, eight out of 10 taxpayers already do.) This is especially important if there’s other money on the table, like your final child tax credit payment.

Here’s how to set up direct deposit with Venmo, Cash App or Paypal to get your refund sooner. For more, here are seven ways to avoid an IRS tax audit.

How can I get my tax refund quicker via Venmo and other payment apps?

Unlike most banks, cash transfer apps can make your deposits available to you as soon as they’re received. That means you can get your refund back up to two days sooner because you wouldn’t have to wait on your bank to process the deposit, which could take up to a week.

How to get your refund through Venmo

Setting up a Venmo account takes less than 5 minutes. Here’s how to do it.

1. Download the Venmo app on your mobile phone and create an account or sign in.

2. Select the profile icon at the bottom right side of the screen.

3. Scroll down and tap Direct Deposit.

4. Select “Show account number” to access your Venmo account details.

5. When you file your tax return, enter your Venmo routing and account number. Once your taxes have been processed by the IRS, your refund will be sent to your Venmo account.

How to get your refund through Cash App

If you’d like to set up direct deposit with Cash App, here’s how to do it.

1. Download the Cash App app on your mobile phone and create an account or sign in.

2. Tap the Banking tab on the bottom left side of your screen. It’s the one shaped like a building.

3. Scroll down and select Direct Deposit. It’ll note that you can get your money two days faster.

4. Next, you’ll need to create a free Cash Card. Tap Get Free Cash Card and follow the onscreen prompts.

5. Once you’re finished, you can go back to the Direct Deposit tab and copy your routing and account numbers. Use those when you file your taxes.

Get your tax refund through PayPal

Just like Venmo (owned by PayPal) and Cash App, you can get your money back two days sooner with PayPal. Here’s how.

1. Download PayPal on your mobile device and sign in or create an account.

2. Scroll through the top menu options and select Set up Direct Deposit.

3. Tap Get Started. You’ll need to read through the terms and conditions, then select Continue.

4. Confirm your information with PayPal and select Submit.

5. Next, you’ll need to upload a photo ID or your Social Security or ITIN document.

6. Once you have that completed, you’ll be able to access your routing and account information in your PayPal wallet.

For more information, here’s how to track your tax refund. Also, these 10 tax changes could impact the size of your tax return.