Bank Products Usage Resources

Q: When does bank enrollment end?

Republic Bank closes at the end of May and Santa Barbara TPG is open year-round.

Q: Can my clients use Bank Products for their state returns?

For Pros enrolled with Republic Bank: Yes, your clients can use Bank Products on one state return, but only if they are also using it for their federal return as well. For Pros enrolled with Santa Barbara TPG: You can use Bank Products to process more than one state return.

Q: Will using Bank Products cause delays in my clients receiving their refunds?

No. Refunds are e-filed and there is no additional delay.

Q: 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.

Q: 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.

Q: What are the bank product fees again?

Republic Bank – First Funding is $39.95 and Second Funding is $10. Santa Barbara TPG – First Funding is $39.95 and Second Funding is $14.95.

Q: What standard method of payment do the banks offer?

Both banks offer bank checks and direct deposit².

Q: Does either bank offer alternative disbursement methods?

Yes, Republic Bank offers Netspend® Visa® Prepaid Cards³. Santa Barbara TPG offers GO2Bank™ Visa Debit⁶.

Q: 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 transmission of a bank product between the bank and TaxAct Professional. Event those with unlimited e-files will be charged the $15 transmittal fee.

Q: I am a first year Bank Products provider, do I qualify to offer Cash Advances⁴ to my client’s?

No, our bank partners require at least one year of history offering Pay-by-Refund¹ before you can begin offering Cash Advance⁴ 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.

Nice Job! You’re enrolled in the Pay-by-Refund¹ product offered by TaxAct® Professional.

Here are 3 things to check off right now to make sure you’re all set to offer this service with confidence throughout the tax season.

Make sure you’re approved. Once you enroll with your bank of choice, you’ll receive an approval notification email. If you didn’t receive this email, call us at (319) 536-3562.
Know how to initiate a Pay-by-Refund¹ with confidence. In this quick video, we show you how to start and complete a Pay-by-Refund¹ in your TaxAct Professional Software.
Educate your clients about Pay-by-Refund¹. Share this video with customers to explain the Pay-by-Refund¹ process. Also, check out this marketing suite offered by Santa Barbara TPG to help promote Pay-by-Refund¹.

The Process From Enrolling to Disbursement

Enroll

Choose from two bank partners to process and distribute your client’s refund.

File returns

Complete the integrated Pay-by-Refund¹ form that is already in your software, then file normally.

Processing

The IRS will deposit refunds into a temporary client account authorized by your client at the bank partner you chose. The IRS typically process e-filed tax returns in less than 21 days unless it needs further review.

Disbursement²

The bank withholds all associated fees, distributing funds to you and the net refund to your client.

PANEL DISCUSSION

How to Use Bank Products

Now that you are enrolled and approved to provide bank products to your customers, this video will help you get started in using bank products in your tax business.

Watch Now

Additional Resources

How to Initiate a Pay-by-Refund¹

(also known as Refund Transfer)

In this quick video, we show you how to start and complete a Pay-by-Refund¹ in your TaxAct Professional Software.

Watch Video

Customer Facing Marketing Video

Use this video to market Pay-by-Refund¹ to your clients.

Watch Video

Still Haven’t Enrolled in Bank Products?

This video will show you step-by-step how to enroll in Bank Products.

Watch Video

Frequently Asked Questions

When does bank enrollment end?

Can my clients use Bank Products for their state returns?

Will using Bank Products cause delays in my clients receiving their refunds?

How long after a client’s refund is received will I get my fees paid?

How and when are tax preparer incentives paid?

What are the bank product fees again?

What standard method of payment do the banks offer?

Does either bank offer alternative disbursement methods?

Is there a difference between the $15 transmittal fee and the $15 e-file fee?

I am a first year Bank Products provider, do I qualify to offer Cash Advances⁴ to my client’s?

How do I take advantage of the Software Purchase Assistance⁵ Program?

I don’t have clients who are low-income or don’t have a bank. Why should I consider offering my clients Pay-by-Refund¹?

If my client chooses to use Pay-by-Refund¹, will it delay the refund?

Contact Our Bank Product Specialists

West

Melanie Milton

319.536.3562

melanie.milton@taxact.com

Weekdays, 8am - 5pm (CT)

East

Sarah Crouch

319.536.3589

sarah.crouch@taxact.com

Weekdays, 8am - 5pm (ET)

Bank Partner Support Numbers

Republic Bank

Lo Guerra, Bilingual Account Executive:

(502) 588-1021

Margie Barito, Sales Manager:

(502) 588-1591

Taxpayer Support:

(866) 581-1040

Santa Barbara TPG

Tax Pro Support (New to SBTPG):

(877) 901-5646

Tax Pro Support (Existing Client):

(800) 779-7228

Taxpayer Support:

(800) 901-6663

Need More Help?

Talk to a TaxAct Professional representative today.

Bank Products are offered by Republic Bank & Trust Company, Member FDIC and by Santa Barbara Tax Products Group, LLC, (TPG), a Green Dot Company, through Green Dot Bank, Member FDIC.

¹Pay-by-Refund (which refers to Refund Transfers) and Cash Advances are offered by Republic Bank & Trust Company, Member FDIC and Santa Barbara Tax Products Group, LLC (TPG), a Green Dot Company.

Pay-by-Refund refers to a Refund Transfer which is a fee-based product offered by Republic Bank & Trust, Member FDIC. A Refund Transfer Fee and all other authorized amounts will be deducted from the taxpayer’s tax refund.

Pay-by-Refunds offered by TPG, a Green Dot Company, are deposit products using Civista Bank, Member FDIC, that enable certain deductions from the account to be processed. Pay-By-Refunds are not loans. Tax refund and e-filing are required in order to receive Pay-By-Refund. Fees apply. Terms and conditions are subject to change without notice.

²If a customer chooses direct deposit, it may take additional time for their financial institution to post the funds to their account.

³The Netspend Visa Prepaid Card is issued by Republic Bank & Trust Company, Member FDIC pursuant to a license from Visa U.S.A. Inc. Netspend is a registered agent of Republic Bank & Trust Company. This card may be used everywhere Visa debit cards are accepted. Card use is subject to activation, ID verification, and funds availability. A Transaction fees, terms, and conditions apply to the use and reloading of the Card Account. See the Cardholder Agreement for details.

⁴ERO must be enrolled for Republic Bank’s Refund Transfer (also known as Pay-by-Refund) Program to offer the Easy Advance programs. Cost to ERO per approved Easy Advance, if any, will be deducted from ERO tax preparation fees and cannot be passed to the taxpayer. If a customer does not choose a Refund Transfer (also known as Pay-by-Refund), disbursement options are direct deposit or prepaid card. Net Refund refers to the taxpayer’s expected refund amount after deduction of all fees.

ERO must be enrolled for TPG’s Refund Transfer Program to offer the Fast Cash Advance program. Cost to ERO per approved Fast Cash Advance, if any, will be deducted from ERO tax preparation fees and cannot be passed to the taxpayer. If a customer does not choose a Refund Transfer, disbursement options are direct deposit or prepaid card. Net Refund refers to the taxpayer’s expected refund amount after deduction of all fees.

⁵Software Purchase Assistance Program (SPA) is offered by Republic Bank & Trust, member FDIC. ERO must be eligible and approved by Republic Bank & Trust.

Advance is subject to approval. Must be enrolled in Standard Refund Transfer program to qualify; all discount programs offered through TPG are excluded from this program. Software Purchase Assistance advances provided by Green Dot Corporation. Check with transmitter for availability.

⁶GO2bank™ cards are issued by GO2bank, Member FDIC, pursuant to a license from Visa U.S.A., Inc. Visa is a registered trademark of Visa International Service Association. GO2bank also operates under the following registered trade names: Green Dot Bank, GoBank and Bonneville Bank. All of these registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage up to the allowable limits.

TaxAct, Inc. gets fees from some third parties, including Republic Bank and Santa Barbara Tax Products Group, LLC (TPG), that provide offers to its customers. This compensation may affect what and how we communicate Republic Bank or Santa Barbara Tax Products Group offers to you. TaxAct is not a party to any transactions you may choose to enter into with Republic Bank or Santa Barbara Tax Products Group, does not itself offer legal, financial, or investment advice, and disclaims any liability arising out of such transactions. Please see Republic Bank and Santa Barbara Tax Products Group’s websites for full terms and conditions.