RAL Enrollment

[Brian EA]

Republic Bank requires a $100 enrollment fee for the 2008/2009 tax season.
Are all the banks charging an enrollment fee or is this a unique situation.

thanks
brian

[Y2KEA]

Are you a renewing user or new? I don't see that in the agreement.
Where did you see this?

[Brian EA]

Are you a renewing user or new? I don't see that in the agreement.
Where did you see this?

Renewing user
brian

[Y2KEA]

Did they notify you after renewal or is it buried in the contract?

[Brian EA]

Did they notify you after renewal or is it buried in the contract?

It's a contract that is renewable every year. In order to renew for 2008/2009 tax season, they are asking for a renewable fee of $100.

brian.

[David1980]

This probably depends on which software you are using/what agreement the software has with Republic.

[taxea]

RAL Enrollment

I just had to get my two cents in...I'm so happy I work for myself and can opt not to deal with RALs. I have convinced all of my clients that RAL's are a rip-off that I will not be a party to. Anyone who insists on a RAL just doesn't understand how much money they are sending down the drain and the sad thing is that most people who opt for RAL's can't afford to be wasting the money.taxea

[David1980]

I just had to get my two cents in...I'm so happy I work for myself and can opt not to deal with RALs. I have convinced all of my clients that RAL's are a rip-off that I will not be a party to. Anyone who insists on a RAL just doesn't understand how much money they are sending down the drain and the sad thing is that most people who opt for RAL's can't afford to be wasting the money.taxea

And if you so much as suggest a withholding adjustment so they get their money throughout the year instead of all at once, they go ballistic. "But that's my savings account!"

[taxea]

RAL Enrollment

Yes David 1980 and my response is "savings accounts pay interest" taxea

[Lion]

No RALs

No RALs for me. I might consider a bank product for paying my fees from the refund, though. But, I'm doing fine taking checks and all major credit cards.

[Brian EA]

Oh Well. If you don't do it then the other guy does.
I try to talk them out of it but their minds are already made up

brian

[David1980]

Yes David 1980 and my response is "savings accounts pay interest" taxea

No joke. Yet, when I tell people (tax people even) that I prefer to owe each year on my taxes they don't get it. So many people simply do not get that a refund is not free money. Oh well...

[taxea]

RAL Enrollment

Brian...I don't try to talk them out of it. I tell them up front I don't do them because they are a rip off. Fortunately I don't take on the type of client that needs the money yesterday. taxea

[Brian EA]

Getting back to the original question; does any other bank charge the enrollment fees?

brian

[Bonnie]

]Getting back to the original question; does any other bank charge the enrollment fees?

I have used Chase in the past and they did not charge fees, but I am changing to Refund Advantage this year. I used them on a trial basis last year and felt their services were superior to any of the banks. No fees and they do pay a bonus to the preparer regardless of the number of RAL's etc you do. I only did 3 last year as I don't particularly like to do them either but have a few clients who want that service so I do provide it. No cost to me and with Refund Advantage the money can go to the customers bank account so I don't even have to have them come back to me. Two other nice features are the fact that you have control over the fees charged. And you can use their service for state only which allows you to deduct the fee from the state refund for those who can't pay up front for a small fee. Assures you of getting your money. Customer can also go to the Refund Advantage web site to see if their funds are available--saves a call to the preparer. They have great features and good customer service if you are looking to change.