American Express Serve and Intuit Inc. INTU, +0.09% announced today that eligible tax preparers using the Intuit ProSeries and Lacerte Software will be able to offer their clients the ability to receive eligible IRS tax refunds on a new American Express Serve Card, a full-service reloadable prepaid account1. This new integrated disbursement option with American Express Serve allows tax preparers to seamlessly register clients for a Serve Account during the tax return preparation process. Clients can receive their eligible IRS refund onto their new American Express Serve Card as soon as the funds are transferred from the IRS.
"This is truly a win-win experience for both our small business tax professionals and their clients. Tax preparers can grow their practices – offering more convenience and flexibility - while helping their clients keep more of their hard earned money by securing their refunds without incurring costly check cashing fees," said CeCe Morken, Senior Vice President and General Manager of Intuit's Professional Tax Division.
"By teaming with Intuit, we're very excited to bring to market a solution for tax preparers to offer their clients a fast and convenient way to receive their IRS refunds because they no longer have to wait on a paper check," said Stefan Happ, General Manager, U.S. Payment Options, Enterprise Growth at American Express. "With Serve, clients will also be able to access a number of features including the ability to set money from their IRS refund aside for future purchases in a linked Reserve account, spend using their permanent Serve Card virtually anywhere American Express® Cards are accepted and withdraw funds using the MoneyPass ATM network."
When tax preparers renew or purchase ProSeries and Lacerte they can enroll to offer their clients the ability to apply for an American Express Serve Card and to have their federal refund directed to that Card. The process is easy and automated and eligible clients will receive a permanent Serve Card in the mail as soon as they are registered by the tax preparer and their application is approved. Their refund will be directly added to their new Account once the funds are transferred from the IRS. This convenient solution will be announced today at Intuit's Investor Day.
American Express Serve is a full-service reloadable prepaid account that does not require a credit check, includes free ATM withdrawals at over 24,000 ATMs nationwide2, free Direct Deposit, free online bill pay, and free Mobile Check Deposit3 for a monthly fee of $1 that can be waived with Direct Deposit4.
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