It’s not too late! Enroll today!
While tax season is in full swing, there is still much left to do. If you have been thinking about offering Refund Transfers for your clients, it’s not too late. Our bank partners are still accepting enrollments.
Republic Bank Enrollment is open until 4/15 and TPG is open year-round.
Hear from one one of your fellow Tax Professionals
“After starting bank refund transfers and advances, my practice grew from 40 clients the first year, to 150 clients the next season. All because of the ease of use of TaxAct Professional and because I offered my clients bank products. Now they have the opportunity of not having to come up with the money to get their taxes done.” -Felicia Ward, Marque, TX
Will using Bank Products cause delays in my clients receiving their refunds?
No. Refunds are e-filed and there is no additional delay.
How long after a client’s refund is received will I get my fees paid?
Banks typically disburse funds as soon as they are received from the IRS. Your fees are directly deposited into your bank account.
How and when are tax preparer incentives paid?
Eligible incentives are delivered in a single payment from participating banks after May 31 of the current tax year.
What are the bank product fees again?
Republic Bank – First Funding is $39.95 and Second Funding is $10.
TPG Santa Barbara – First Funding is $39.95 and Second Funding is $14.95.
What standard method of payment do the banks offer?
Both banks offer bank checks and direct deposit.
Does either bank offer alternative disbursement methods?
Yes, Republic Bank offers Net Spend Prepaid Visa Cards and Walmart Direct2Cash. TPG offers Walmart Direct2Cash, Walmart MoneyCard, and GO2Bank Visa Debit.
Is there a difference between the $15 transmittal fee and the $15 e-file fee?
Yes, the e-file fee is the cost to submit a return electronically through the TaxAct Professional Software. The transmittal fee is related directly to bank products and is the fee associated with the transmission of a bank product between the bank and TaxAct Professional. Even those with unlimited e-files will be charged the $15 transmittal fee.
I am a first-year bank products provider, do I qualify to offer Cash Advances to my clients?
No, our bank partners require at least one year of history offering Refund Transfers before you can begin offering Cash Advance Products. There are additional requirements that must be met like bank volume and funding percentage. Contact one of our bank product experts today to learn more.
How do I take advantage of the Software Purchase Assistance Program?
Tax Professionals who have 40 or more funded bank products are able to apply to have their software costs paid upfront by a bank partner loan program. Once the tax season begins, the bank will deduct your tax software fees monthly until paid in full.
I don’t have clients who are low-income or don’t have a bank. Why should I consider offering my clients Pay-by-Refund?
Refund Transfer offers your clients, no matter their financial situation, the ability to have their tax prep fees deducted from their refund. It saves having to pay upfront and they can collect their net refund when it is complete.
If my client chooses to use Pay-by-Refund, will it delay the refund?
No, using Pay-by-Refund does not delay the process of the return or the refund.
Want to talk to one of our Bank Products Experts, reach out at the information below:
Melanie Milton – email@example.com or (319)536-3562
Sarah Crouch – firstname.lastname@example.org or (319)536-3589