CASSIDY FINANCIAL

MOBILETAX SERVICE®
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Disbursement Options
Disbursement options include the traditional cashier's check, direct deposit or a Currency Connection debit card with all card fees bundled to keep it simple for both you and your customer. For customers who choose a cashier's check, we provide extensive check cashingat a variety of well known banks and retailers.
 
IRS Direct Deposit 

With IRS Direct Deposit, the client's RAL or refund proceeds are electronically deposited into their pre-existing checking or savings account. This means less traffic in your office since your client doesn't have to return to the office to pick up a check. Clients must have a pre-existing checking or savings account to choose this method.

 

This option takes a few days longer than the Cashier's Check. because after the money is transferred, it can take up to four days for the client's bank to credit the funds to their account.

An IRS Direct Deposit Account,is an account opened through an intermediary bank to receive the Direct Deposit of a client's refund from the IRS or State taxing authority. The client receives their money when we receive the Direct Deposit of the tax refund from the IRS.

 

The Direct deposit allows alliance members to:

  • Offer competitive products at competitive prices.
  • Attract new clients/increase revenue.
  • Include an additional value-added product to offer existing clients.
  • Offer tax preparation with no out-of-pocket fees.

And customers can:

  • Receive their Federal tax refund in 10-21 days (State refunds vary).
  • Enjoy the benefits of Direct Deposit.
  • Opt to have their tax preparation fees deducted from the refund.

Members can offer an IRS Direct Deposit to customers if:

  • They file their Federal tax return electronically.
  • They are at least 18 years old.
  • Their tax refund exceeds the amount of fees to be deducted.
With  an IRS Direct option, customers can receive their refund directly from the IRS via direct deposit to their bank account in 8 to 15 days, or have their refund check mailed to them in 21 to 28 days. The IRS Direct option is free with paid income tax preparation.  
 
 

2008/2009 Pricing

Our new percentage based pricing model promotes equitable charges by assessing a $30.95 ACCOUNT SET-UP FEE to all customers plus a 2.65% FINANCE CHARGE (maximum $98) for Traditional RALs.

An additional $55 NowRAL SURCHARGE will be charged to customers who choose to receive an immediate advance on their Traditional RAL.

 

Also, our new REDUCED PRICE RAL with a 1.07% FINANCE CHARGE is available as a loan option for all consumers. Customers with expected refunds over $1,000 can choose to apply for a $1,000 Reduced Price RAL instead of a Traditional RAL for their full refund amount.


Traditional RAL
  • $30.95 account set-up fee
Finance Charge 2Loan Amount
2.65%$1,001 - $3,698
$98

(maximum finance charge)

$3,699 - $8,000

NowRAL 3
SurchargeNet Check Amount
$55$500, $1,000 or $1,500

Reduced Price RAL 4
  • $30.95 account set-up fee
Finance Charge 2Loan Amount
1.07%$300 - $1,000

Electronic Refund Checks and Deposits
ProductFee
ERC$30.95

 

Bank Check – Print ERCs and RALs in your office on complimentary check stock.

  • An automated Voice Response Unit (VRU) is available 24/7 for verification of all bank product checks. The toll-free phone number is printed on the face of our checks for fast and easy verification by financial institutions or check cashing services.
  • Checks print via tax preparation software or through Republic Bank depending on your office set up.

ACH Direct Deposit – Available for RALs and ERDs.

  • Customers will not have to return to your office to pick up a check with this convenient method of payment.
  • ACH Processing takes 1 -2 business days until funds are available in taxpayer’s personal savings or checking account.
  • Avoids check cashing fees and issues with taxpayer’s bank putting a hold on deposited checks.


Currency Connection Debit Card – Available for NowRALs, RALs and ERDs.

Help your customers avoid check cashing fees and the risk of carrying cash with this fast and convenient disbursement method. Also, unbanked customers have the option to keep their account open throughout the year by setting up the direct deposit of their payroll or government benefits.

During Tax Season

  • Debit card and PIN are issued in tax office at time of bank product application.
  • Funds are available within minutes of RAL/NowRAL approval or IRS funding.
  • All subsequent funds such as overages and state refunds will also be deposited to the account.
  • Ideal for customers who want to spend their refund over a period of time.
  • Accepted at ATM and POS locations within the Cirrus and Maestro networks.

 

After Tax Season

  • No minimum balance required for this FDIC insured bank account
  • Free internet banking on republicbank.com
  • Option to upgrade to MasterCard logo debit card

Fees (partial list)

  • Set-up Fee: $30 up front fee deducted from refund or RAL
  • Monthly Maintenance Fee: First two (2) months FREE, then $19.95 per month
  • Point of Sale Purchase: FREE for first two (2) months, $1 thereafter
  • ATM Transactions: 10 FREE per month for first two (2) months, $2 thereafter at non-Republic ATMs
  • Balance Inquiries: FREE for first two (2) months, $1 thereafter