Financial Products, Bank Products, and Bank Partners
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We are pleased to offer numerous bank and financial products from our banking partners.
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Financial and Bank Products
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Refund Anticipation Loan (RAL) - This product allows your clients to obtain
a loan against their expected tax refund. You can print the check for the loan in
your office or have it deposited into your client's bank account. You can have your
fee for tax preparation withheld from the loan and directly deposited into your
account.
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Direct Deposit Check (DDC)* - This product is not a loan. It allows you to
print a check for the taxpayer in your office or have it deposited in your client's
bank account as soon as their refund is received by the bank. Again, tax preparation
fees can be withheld from the check and directly deposited into your account.
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* Product names vary by bank and include Bonu$ check, ERC (Electronic
Refund Check), and RT (Refund Transfer).
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State DDC - Handle each client's state refund the same way as federal refunds.
You can print the check for that refund in your office or have it directly deposited
into the client's bank account.
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Debit Cards - Give clients refunds in the form of a debit card (rather than
a check). The products provided by our bank partners vary, with some cards carrying
the VISA logo, some the MasterCard logo, and some with the bank's logo.
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Payment Options - Your clients may be eligible for advances to assist them
with paying their balance due returns. The fees for this are much less than late
payment fees they might pay to the IRS or to the state, and less than the fees they
would have paid had they chosen to pay by credit card.
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Our Banking Partners
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Chase Bank - Chase Tax Related Products has been a premier provider of tax
related bank products since 1989, offering great service to Drake tax preparer business
partners since 1990. In 2004, Bank One merged with JPMorgan Chase & Co., a leading
international financial services firm with over 2,600 bank branches in the U.S.
Chase TRP is one of the three largest providers of tax refund bank products in the
country.
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Republic
Bank & Trust - Republic Bank is committed to providing independent tax businesses
with competitive bank products, aggressive rebates and the most extensive support
available. A taxpayer sweepstakes, national check cashing affiliations, live training
seminars and easily reached customer service are some of the unique ways Republic
Bank ensures the success of their tax preparers. Additionally, it is a top priority
of the bank to process RALs, NowRALs, Electronic Refund Checks or Deposits with
unmatched speed and reliability.
Headquartered in Louisville, Kentucky, Republic Bank has been active in tax refund
processing since 1987.
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Santa Barbara
Bank & Trust - SBB&T is a part of Pacific Capital Bancorp, a community holding
company with $5.7 billion in assets. It has dozens of branches in California, and
has been active in tax refund processing since the 1991 tax year. SBB&T is also
one of the three largest providers of tax refund bank products in the country.
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River City Bank
- River City Bank - Our newest banking partner. River City Bank is part of a banking
family that has been serving bank customers for over 100 years. Its philosophy has
always been to offer products people want, charge a reasonable fee and treat people
fairly with the best service possible. For 20 years River City has been working
in the tax preparation industry; supplying bank products to EROs and their customers.
River City Bank invests in the best technology and the best people in order to offer
the products and customer service that you expect.
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