Soccer3826
San Diego,#2Consumer Comment
Fri, May 22, 2009
I have the same problem with completetax.com and republic bank. the bank will charge you $ 19.95 to open a temporary account in your name how they use this account and what they do with it is there discretion you the rightful owner of that personal information you have no say what so ever. this is what they do with the so called ERD fee They have your Direct deposit go in to the account created in your Name then after 15 or more day they will direct deposit it to your account. This is bigger 19.95 fee put two and two together there quarterly report shows a large number of new accounts and if the minimum tax return is say 1000 dollars that is a lot of money that shows they are making with so many new and temporary (accounts) customer.
Jhostetter
Anchorage,#3Consumer Comment
Sun, October 12, 2008
I am a professional tax preparer who has had dealings with Republic Bank. From reading Mr. H's comments, I'm not sure, but it appears that he had to wait some time before receiving his refund...his gripe wasn't totally clear. In any case, allow me to explain how this works. In the case of Mr. Hesperia (assuming I understand his circumstances), he authorized Republic Bank to handle his refund for a fee. This a common situation. Republic Bank then has to wait for the IRS to fund the refund. This typically takes 10 to 14 days before they get the money from the IRS. Sometimes the IRS will hold up the refund for weeks or months in some cases. In every case I've had with RB, and I'm talking about thousands of clients, Republic posts the refund to the client within MINUTES of receiving the money from the government. To say they are withholding money to make interest is unfair and inaccurate. It's my opinion that Mr. H incorrectly believes that Republic Bank is immediatly funded, which is certainly not the case. I believe Mr. H needs to correct his complaint.