Getting approved by banks to RAL

Has anyone that offer RALS, ever had a client sue or come after your company for something that went wrong with the RAL process.

Thanks

Did anyone else on this thread sign up to use DMG Global to do taxes? If so did you ever get anything once you paid your money? It appears that the whole thing was a scam and I am looking into take possible legal action. Just wondering if I am alone in this or if there are others.

cdtaccounting@comcast.net

I notified Dionne from DMG Global and she responded back saying that they were processing everything for November 2nd but I have not hear or recieved anything yet.

Hi Shonda,

I would like to talk with you. I cannot post my phone number on this forum (I tried and it gives me a message to take it out), if you send me an email directly, I can send you my phone number. Or if you send me your phone number I will call you.

I hope I haven't wasted my money but it doesn't look to good right now.

DeAndrea
cdtaccounting@comcast.net

I work with DMG last year and everthing went great!!!!!! She work very hard keeping up with everything that we did and we did do some returns.

Seems like a huge case of miscommunication and maybe misinformation from some third parties. My understanding of the the process and no clear direction on next steps or a timeline caused huge worry.

good luck
this tax season

Dionne in Suwanee, Georgia said: Monique,
I am sorry to hear of your bank product situation. I know that this tax season is almost at end but I may have a suggestion for next season. Please let me know if you still want to provide bank products for your clients.

I am currently in the process of trying to offer RAL in my current business, but I have not has any approvals. Do you have any suggestions for me. Thanks for any feed back wireless_etc123@yahoo.com

Dionne in Suwanee, Georgia said: Monique,
I am sorry to hear of your bank product situation. I know that this tax season is almost at end but I may have a suggestion for next season. Please let me know if you still want to provide bank products for your clients.

I am currently in the process of trying to offer RAL in my current business, but I have not has any approvals. Do you have any suggestions for me. Thanks for any feed back wireless_etc123@yahoo.com

Try Chase. If the software you use does not have an agreement with them, go to www.profitdevelopers.com. They have software for $200 that connects several tax software companies with Chase. I will be using ProSeries and Profit Developers (PDI) to go through Chase.

I am trying to get approved for RAL for the upcoming Tax Season. I was turned down by Chase Bank and have not tried any other banks. Do anybody have some suggestions before I try to apply with other banks, to keep from being denied due to credit scores.

Is it due to your credit score or something else? If you have a brand new tax prep business that could be the reason. As far as I know Chase was the most lenient. Good luck.

hey if this is your first year applying for bank product they only usually give you the erc until you set a record

e-mail DMG she help me last year maybe she can help you this year

Hi:

Any of you not use any bank products? I like low income tax returns. They are clean and easy.
Take a post dated check or promise to pay you latter. You will get burned a little so what. Tell them you will do this year for free and ask for a referral. Come out a nice guy.

My marketing plan is I charge 50 per cent Block fees and I present Block as the evil fee company. I do not charge rip off fees. I do a lot of personnel marketing in parking lots etc.

I have done heavy collection work 10 years and have been to small claims court over 100 times.

I realize you get your fee covered thru a bank product. But you have to call the customer to come into the office to pick up the bank check etc. Also when they come in to get the check, they may question the high fees. I do not feel bank products leave a good taste with a customer. In a bank product do u still get a $3.00 referral fee?

I spend my time marketing, double checking tax returns before e-filing and researching tax issues, etc.

This is my opinion. I want to build a relationship with my clients as friends, etc.

Chris

Meshendia in Kansas City, Missouri said: I am trying to get approved for RAL for the upcoming Tax Season. I was turned down by Chase Bank and have not tried any other banks. Do anybody have some suggestions before I try to apply with other banks, to keep from being denied due to credit scores.

have you found a solution?? maybe we can compare notes. chlmorr@yahoo.com

Everyone is saying that the enrollment period has ended for all RAL sign-up possibilities. I am still out searching for some type of relief. A lot of people are saying they really need to go Rapid. If you found out anything please let me know.

Meshendia I have kiosks in the Kansas City area. We allow certain professionals to operate Kiosks or ofices with us as partners. If you have a client base, then you would be far ahead of the curve. We split commissions on a highly favorable production based split. We currently are able to do pre-season loans, RIGHT NOW until Jan 14th with a 20-30% approval rate (H&R blocks is 8% published approval rate, why do people trust them so much??). We offer RALs and RT's, with funds loaded on a MC for NO FEE to do so on the cards. I would love to talk to you about this opportunity. Please contact me at kyleh.rcts@gmail.com

You may want to ask yout tax software vendor for advice or assistance. They have relationships with the RAL banks they support and may be able to help.

Reports of SBBT refusing to allow RAL's and Chase bank's very tight is a great thing for those of us who are not with them. If you have found yourself in a situation where you feel you would rather offer the RAL AND the RT options, please consider contacting me at kyleh.rcts@gmail.com

We can take a look at your location and if the territory is available (not taken by another office already (NATIONWIDE AVAILABILITY)), then perhaps we can partner together to offer the RAL & RT products for your clients and you keep the majority of the fees. This partnering means we provide training to you and staff on our software (Drake09 - FREE TO YOU and your locations). You will have the power of a Franchise Office without the costs associated with purchasing one. Doing this now empowers you to offer the products your clients desire most. Doing this does not prevent you from taking the opportuntiy to purchase a franchise in the future, either. Please contact me directly for any specific questions to be answered. I have a lot of information for you.

Reports of SBBT refusing to allow RAL's and Chase bank's very tight approval requirements for preparers has created a black hole of service for those of you who are with them. If you have found yourself in a situation where you feel you would rather offer the RAL AND the RT options, please consider contacting me at kyleh.rcts@gmail.com

We can take a look at your location and if the territory is available (not taken by another office already (NATIONWIDE AVAILABILITY)), then perhaps we can partner together to offer the RAL & RT products for your clients and you keep the majority of the fees. This partnering means we provide training to you and staff on our software (Drake09 - FREE TO YOU and your locations). You will have the power of a Franchise Office without the costs associated with purchasing one. Doing this now empowers you to offer the products your clients desire most. Doing this does not prevent you from taking the opportuntiy to purchase a franchise in the future, either. Please contact me directly for any specific questions to be answered. I have a lot of information for you.

kheywood in Saint Peters, Missouri said: Reports of SBBT refusing to allow RAL's and Chase bank's very tight approval requirements for preparers has created a black hole of service for those of you who are with them. If you have found yourself in a situation where you feel you would rather offer the RAL AND the RT options, please consider contacting me at kyleh.rcts@gmail.com

We can take a look at your location and if the territory is available (not taken by another office already (NATIONWIDE AVAILABILITY)), then perhaps we can partner together to offer the RAL & RT products for your clients and you keep the majority of the fees. This partnering means we provide training to you and staff on our software (Drake09 - FREE TO YOU and your locations). You will have the power of a Franchise Office without the costs associated with purchasing one. Doing this now empowers you to offer the products your clients desire most. Doing this does not prevent you from taking the opportuntiy to purchase a franchise in the future, either. Please contact me directly for any specific questions to be answered. I have a lot of information for you.

I hear Drake is a awesome software. I ordered several demos to decide on the one I wanted to use. Due to me starting my own business, I went with ATX due to costs. I just received this software in the mail last week. That is great that you offer Drake for your partners.

Meshendia in Kansas City, Missouri said: Everyone is saying that the enrollment period has ended for all RAL sign-up possibilities. I am still out searching for some type of relief. A lot of people are saying they really need to go Rapid. If you found out anything please let me know.

Call Chase or chasetrp.com, they are still offering RAL and RT sign up, i just called them today.

Last year i used Chase. they have the higher fees of any bank and you get no kickback. The fees for each app was close to $30... i think it was a check printing fee... bogus.

They also scrutinized my application hard core this year and said since i did RALs with them last year that i was approved this year.. my friend that had not done RT or RALS last year was denied for the RALS but allowed to do RT's only. He is now under my EFIN and doing RALs this year and actaully doing early season loans TODAY. RIGHT NOW. He is OPEN. everyother franchise in america, every independent, every CPA... is CLOSED for tax year 2009. We are OPEN. Just had 10 people come in today before noon. 2 out of 10 are approved for the early season loan and if not we offer them $10 for their trouble as a referral fee... they just referred themselves to do their taxes with us once the IRS opens.

How do you know they are going to come back to your office to get their taxes filed?

Great Question. I dont. I have faith that the 900 toys i gave away on 12/19 to 120 families got them to come in for the early season loan opportunity. so far we have seen about 90 people come in to apply for it. 75% of them were from our toy give-a-way. I have faith that because we explain that our fees for tax prep and RAL / RT is the LOWEST of the industry, promising that if they will bring in last years tax return documents, that we will file any amendment free (to see if we can get them a revised increase from last year), and that we will charge $25 less than the fee printed on last years return. It's the goodwill and community outreach approach.

I will not get 100% of these folks back. I know that. But considering the amount of money we can make, its worth it. Burger King ran a promo for a $0.99 cheeseburger just last month.. remember? did you know it costs the franchise owner $1.12 to provide that cheeseburger? why would anyone do that? they would ALWAYS lose money, right? WRONG. "DO YOU WANT FRIES WITH THAT?" How about a drink for $1.39 that costs them $0.29?

DO YOU WANT YOUR MONEY IN 10-48 hours or 10-days or perhaps a direct deposit in as much as 3 weeks or less? Most of the poplation that files in January and early February WANTS THEIR MONEY RIGHT NOW... We will be one of the few who can deliver that.

Going my way allows you the opportuity to charge what YOU want.

Plus, Karma is a great thing... we've done a lot of good in our area with the toys and the $10 thank you's.

Thank you.

I like your style. People have no clue that it costs to get customers. Your Burger King example is great. Market in any personnel conversation that Block charges excessive fees. you do an EIC return for 125.00 and then allow them to post date a check to help them out, most people will remember that. They have family and friends. Worse case they bounce the check. You call them back nicely and tell them the return is free please referral friends and come back next year. You will get referrals from people who have not filed for 3 years.

If you gave out 900 toys bat cost of 5.00 Total cost would be $4500.00

If you charged $150.00 per return you you would break even at 30 returns. Trust me I know you have fixed expenses like rent utilities etc.

Are you doing some type of advance December loan on tax return?
Block used to do this here but not this year. Block is under a law suite for misrepresenting their RAL loans. they were using the word refund instead of loan

Chris

Chris, Exactly! Most independents and CPA preparers have the 'accountant' metality... which is if i spend less i will make more. Typically they miss the marketing aspect. Which does not have to cost a lot of money... just a lot of sweat and effort. I chose to work with a franchise because they are a marketing company who happens to do taxes. I could sell widgets or insurance or process drivers license applications... ANYTHING. Its because of my passion for marketing that i will succeed.

Because i am an area rep i can offer this amazing opportuntiy to preparer's nationwide. We are offering early season loans under that same understanding.

who are you a rep for? Taxes is an easy business to market. My BA is in political science who has taken alot of accounting classes.

What advise to do gave for a bookkeeping service

My background is:
Education
Masters in Public Administration, Bachelor of Arts in Political Science and Associate Science in Business Information Systems
Accounting classes - Accounting 1A, Accounting 1B, Intermediate Accounting (Upper Division Accounting), and Quickbooks

Work Experience
Eight plus years of increasing responsibilities in Accounting
I am also a 3 yr. registered tax preparer
chris

I dont presume to be the best to answer this, hopefully more folks will reply on this forum. One ofhte best way to get bookeeping clients is to actually do tax preparation... obsviously you want to get in front of business owners... well... what does every tax payer bring in to you for you to file their taxes? A W2 or 1099 (1099 is a winner because that's someone who needs your services potentially, so thats #1), but on the W2 is the employer's address and FEIN... pretty darn useful info.. ASLO if it has ADP on the check, you can look at it as a challenge or avoid them for now... because ADP is good, but they can be expensive for the smaller business owners.. you know that you could beat ADP on price AND service because its you, locally. but ADP is a great service too. I would start with the W2's and 1099s that are walking in your office every day during tax season. Go out to individual business owners... bring your resume or even better, current customer referral statements showing that you have earned other biz owners trust. Offer to do their taxes for thier business at a reduced cost or free, for the right to handle their bookeeping and payroll liabilities, etc. throughout the year. This should be an EASY sell when you get your foot in the door to get in front of the employees and do their tax returns with a big discount since they are preferred clients (clients that already cost you the price of a $3-400 business tax return). I really like the power of DRAKE software for ongoing bookeeping too.

I want to start a tax service and I was just wondering who offers Money Now loans, where a business would be able to start doing taxes before January 15th. What bank or service does that?

what you really mean is...when you star your practice how could you get signed up with a bank that will allow you to do instant rals????? that is a good question, but it does depend on your experience....my understanding is that new ERO's can't do rals.....but lets try and see if someone else can answer because i want to know too!!!1

Some banks will allow preparers who have not offered bank products before to offer RALs. However, my understanding is that when they do accept those, they are usually preparers with experience in the industry and credentials (EA or CPA). I did not apply until my third year in business and was accepted, but by then I had 6 years experience in the field and was an EA. If you have no tax prep experience I doubt you will be approved. Chase is the only bank I know of that is still accepting applications for this tax season, try them out.

Rasheed Shabazz in Stone Mountain, Georgia said: To any one interested, I have a solution to your RAL problems, I can set your current business up with these bank products so that don't have to turn away business. Unlike other options, you maintain control of your client info, with means you do there return, you transmit, and you print there check. You do not have to send there return out of your office. This option is available in every state in the US. If interested email rasheed@taxchainpro.com

Please send you RAl info to me--also if you know--My EFIN has not arrived yet will be here around FEB 5--I need to open my office in 2 weeks any suggestions?

Please any one who is interested in offering RALs this season, please email me at kyleh.rcts@gmail.com, please email me your phone number specifically and the best time to reach you. We are offering an opportunty for you to do RALs and RTs this year using Drake softeware... there is NO COST TO YOU. We split out of the fee's charged to your clients. You control the price you charge, we do not. You control the client files, we do not. I know of no other bank allowing anyone who has not done RTs or RALs last year... Chase is still accepting applications (dont forget to fill out the credit application, they will ask about 8 days after you send the application and that will delay it further, yes your credit matters to them)... Yet Chase is NOT approving anyone who didnt do RALs last year with some kind of bank... so IF accepted you will be able to offer Refund Transfers as your only bank product (which is slightly slower than the IRS direct depositing - because the funds arrive at the RT bank THEN go to your office for check to print)

I just found out i was denied by Chase due to "lack of management experience". This is my 1st year offering bank products, i am a new preparer, but many years of experienc. It is now to late to apply with other banks. Are there any other alternatives, b/c i want to offer RAL's to my clients?

You may be able to transmit through a service bureau.

Chuck McCabe in Richmond, Virginia said: You may be able to transmit through a service bureau.

Thanks Chuck! Is there one you can recommend?

Try MRSTax - find it through Google. Ask for Thorman Jerry

What exactly do you mean when you say spliting fees? Are these the bank fees or are they the tax prep fees?

Hi sometimes things happen! This happen to me last year were several banks approved me for erc and rt becauses it's your first year filing electronic! Remeber All things work together for them who knows there calls! try dionne@dmgsbs.com

nctaxgirl in Durham, North Carolina said: I just found out i was denied by Chase due to "lack of management experience". This is my 1st year offering bank products, i am a new preparer, but many years of experienc. It is now to late to apply with other banks. Are there any other alternatives, b/c i want to offer RAL's to my clients?

Have you found anything yet?

sej1430@att.net in Jacksonville, Florida said: Hi sometimes things happen! This happen to me last year were several banks approved me for erc and rt becauses it's your first year filing electronic! Remeber All things work together for them who knows there calls! try dionne@dmgsbs.com

I agree with your quote.

kheywood in Saint Peters, Missouri said: Please any one who is interested in offering RALs this season, please email me at kyleh.rcts@gmail.com, please email me your phone number specifically and the best time to reach you. We are offering an opportunty for you to do RALs and RTs this year using Drake softeware... there is NO COST TO YOU. We split out of the fee's charged to your clients. You control the price you charge, we do not. You control the client files, we do not. I know of no other bank allowing anyone who has not done RTs or RALs last year... Chase is still accepting applications (dont forget to fill out the credit application, they will ask about 8 days after you send the application and that will delay it further, yes your credit matters to them)... Yet Chase is NOT approving anyone who didnt do RALs last year with some kind of bank... so IF accepted you will be able to offer Refund Transfers as your only bank product (which is slightly slower than the IRS direct depositing - because the funds arrive at the RT bank THEN go to your office for check to print)

Khyewood thanks for your help and effort.

Thank you Meshendia!! Were you able to get on our webinar yesterday and get ready for the downloads? If not we have the webinar recorded and you can download it to watch anytime. We're technical like that! :)

You may be able to transmit through a service bureau. Ask your tax software vendor for recommendations.

You could also join the LinkedIn Group "Tax Business Owners of America" and pose this question to other tax business owners.

Bruce II in Grand Prairie, Texas said: I contacted ProSeries and they said Proseries Professional software is $1399 plus $475 for a network. Does anyone know a company selling cheaper tax preparation software for a network? What is better to use a network, or not?

hey there is a software company is reasonable. They let you make payments. They are called tax web. They arre reasonable.

Meme in Plaquemine, Louisiana said: I am currently in the process of trying to offer RAL in my current business, but I have not has any approvals. Do you have any suggestions for me. Thanks for any feed back wireless_etc123@yahoo.com

We offer first time tax businesses and opportunities for those that have had a hard time getting approved by banks to partner up with our company. We offer all bank products / Rapid Refunds ERD, ERC, efiling etc. There are no start up fees and software is provided. Please email if you are interested. We create a win win situation for all!

adriana26 in paris, Texas said: have you found a solution?? maybe we can compare notes. chlmorr@yahoo.com

We offer first time tax businesses and opportunities for those that have had a hard time getting approved by banks to partner up with our company. We offer all bank products / Rapid Refunds ERD, ERC, efiling etc. There are no start up fees and software is provided. Please email if you are interested. We create a win win situation for all! Please email at teresa@advancetaxprep.com

jonesaccounting01@yaoo.com in Orlando, Florida said: I am facing sililar situations with my business. I was turned down for offering RAL's last year by SBBT because they said I was "new". So I use the RT instead. Now, when I spoke with them this year regarding offering RAL's I was told that I can only offer the RT products. Their reasoning was that out of 14 RT's that were funded, two of them did not get fully funded. When I asked which two they were, he provided me with the names but when I researched my records, his information was incorrect. Boy was I livid! What I need is a company, bank, or private investor that IS ABLE and WILL fund the RAL Products (24-48 hours) Only those who can really help reply!

Please email me at teresa@advancetaxprep.com. I can help!