WesternUnion and CCH Small Firm Services have signed an agreement to let tax preparerswho use CCH software give clients the option to receive tax refunds on aprepaid card. The move is part of a trend where companies use tax refunds as away to find new customers for prepaid products, promising speedier returns andmore flexible spending options. The Western Union prepaid card can also be usedto receive direct deposit for paychecks.
American taxpayers will be able to receive theirincome tax refunds on a reloadable prepaid Western Union MoneyWise™ MasterCard®as a result of a new relationship between The Western Union Company (NYSE:WU),a global payments leader, and CCH® Small Firm Services (SFS), a leadingprovider of software for tax and accounting professionals.
Additionally, the MoneyWise™ Prepaid MasterCard®will also be available to more than 11,000 Volunteer Income Tax Assistance(VITA) sites, which are sponsored by the Internal Revenue Service to assistlow-income and elderly Americans. These sites handle tax returns for millionsof taxpayers annually, at no charge, with the help of volunteers.