Important Alert Regarding Advance Bank Products
Due to varying state laws regarding Refund Anticipation Loans (RALs), we highly recommend that all ERO’s planning to offer “Advance” bank products consider registering with the appropriate state agency, for each state where an Advance bank product will be offered.
An Advance bank product is an advance against your client’s tax refund in the form of a check, debit card, or direct deposit. Advance bank products are being offered by all of Drake’s bank partners starting in the 2016 tax season. For more details on Drake’s bank partners’ program offerings, including Advance products, go to Support.DrakeSoftware.com, sign in, and select Products > Bank Partners and click on the bank with whom you wish to partner.