How CAN bank products help my business?

The ability to provide a variety of options for payment of your preparation fees, as well as provide other financial products your clients may be interested in, is important to many tax professionals. Many look to bank products to provide that flexibility. Taxware provides integration with EPS, Refund Advantage, Republic Bank and TPG-Santa Barbara Tax Products Group to give our clients a variety of options in both product and services to grow their business. Taxware does NOT charge any hidden fees that are typical in the industry including Technology/Documents fees etc.

Bank Products/Refund Transfers and How They Work

Bank products or refund transfers, can be confusing at times. At Taxware Systems, we want to make sure that the options available are clear to you as a tax professional. Bank products can be used as a tool to help you gain more clients, expand your business by offering more services, and ultimately increase your income.

1. What is a bank product/refund transfer?
A bank product/refund transfer is a service that allows you, the tax professional, the option of having your preparation fees taken out of the client’s refund.

2. How does it work?
Money is routed from the IRS to the Refund Settlement Bank of your choosing, and then the bank distributes your preparation fees directly to you, the tax professional. Simultaneously, the bank issues the taxpayer’s refund via check, direct deposit, or prepaid card.

3. Are bank products mandatory?
No, but it can be a great option for your office and your clients.

4. How does it benefit me, the tax professional?
A bank product can help to ensure that you, the tax professional, will receive your preparation fees. It will also help you expand your business by offering more services than your competitors. It can also free up your time to focus on gaining more clients rather than collecting payments. All of this is an opportunity to increase your revenue.

5. How does it benefit my client, the taxpayer?
The bank product service makes paying for tax preparation fees that much easier. With this service, taxpayers that cannot afford to or don’t want to pay upfront for your services can still get their taxes done in your office. They have a variety of disbursement options including check, direct deposit and pre-paid debit card for their convenience.

6. How much do bank product services cost?
Contact the Refund Settlement Banks, as their disbursement fees may vary depending on the bank and the program you choose. Taxware Systems is proud to be one of the few, if not the only, tax software company that does not charge bank technology, service bureau or other hidden fees. The only costs are the refund settlement processing fee from the bank and a minimal bank transmission fee.

7. Which banks are integrated with Taxware’s Wintax program?
We fully integrate with EPS, Refund Advantage, Republic Bank and TPG-Santa Barbara Tax Products Group (SBTPG). For more information, please contact Taxware Systems at 1-800-877-1065 or the banks directly.

Want to purchase Taxware without paying up front?

Learn more about the Software Purchase Assistance program that is provided by our integrated banks. Each bank has their own approval guidelines for this No Cost Tax preparation software loan. Please review their weblinks below to determine which program fits your needs best. Then give us a call at 800.877.1065 to learn more.

Bank Product Annual Enrollment

The annual enrollment period for bank products begins in late October for the coming season. Enrollment is completed through your current year tax software. Instructions for current clients can be found here.