ENGLEWOOD, Colo.--(BUSINESS WIRE)--Just in time for tax season, Western Union today announced that it has joined forces with Advent Financial to offer quick and easy access to tax refunds on prepaid cards at more than 5,000 tax preparer locations in over 45 states.
“According to the FDIC, nearly one-third of people in the U.S. are underbanked”
Beginning next week, people filing their federal and state tax returns at tax-return preparation offices offering financial products through Advent can elect to receive their refunds on the Get It Prepaid MasterCard®, a general-purpose reloadable (GPR) prepaid card offered by Western Union and Advent.
Not only can the Get It Card be a quicker and more convenient method of receiving a tax refund than a paper refund check – it can be used after the refund has been spent. Cardholders can reload their cards at one of 45,000 Western Union® Agent locations in the U.S., by transferring money from a bank account, via direct deposit or by directing a Western Union Money Transfer® transaction directly onto the card.
“According to the FDIC, nearly one-third of people in the U.S. are underbanked,” said Mike Hafer, SVP, Global Stored Value, Western Union. “This card has the power to bring many into the financial mainstream. We’re proud to offer a great way for people to manage their finances and now, receive their tax refunds conveniently.”
According to the U.S. Department of the Treasury, the number of people electing to receive their refunds on prepaid cards has grown steadily and is projected to continue to grow – especially as more and more states eliminate paper refund checks altogether.
“We are pleased to team with Western Union to extend the functionality of our Get It Card at tax time and beyond,” said John Thompson, President, Advent. “Together we have created access to a highly functional and convenient set of features to help improve the financial capabilities of our cardholders. We are also excited about the important client referral opportunities now available to our tax preparers through this alliance with one of the world’s most recognizable brands.”
Existing Western Union prepaid cardholders also can direct their tax refunds onto their prepaid cards at any tax preparation company or when filing their own taxes.
For more information on participating locations, visit www.findmytaxoffice.com. For information on the Get It Card and how it works, visit www.mygetitcard.com. For information on how to direct a refund onto any Western Union prepaid card, visit www.wuprepaid.com.
About Western Union
The Western Union Company (NYSE: WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. As of September 30, 2012, the Western Union, Vigo and Orlandi Valuta branded services were offered through a combined network of approximately 510,000 agent locations in 200 countries and territories. In 2011, The Western Union Company completed 226 million consumer-to-consumer transactions worldwide, moving $81 billion of principal between consumers, and 425 million business payments. For more information, visit www.westernunion.com.
About Advent Financial
Advent Financial provides a full suite of tax refund settlement and disbursement products for independent tax preparers. Advent's settlement products are integrated in most major tax preparation software packages or available in an easy-to-use “direct” model. Through its tax preparer partners, employer payroll relationships and directly online, Advent also delivers affordable, everyday banking products for underbanked consumers, including the Get It Prepaid MasterCard. Advent was founded in 2008 and is based in Kansas City, Missouri.
The Get It Prepaid MasterCard is issued by The Bancorp Bank, a wholly owned subsidiary of The Bancorp, Inc (Nasdaq: TBBK), pursuant to license from MasterCard International Incorporated. The Bancorp Bank; Member FDIC. Use this card everywhere Debit MasterCard is accepted. MasterCard is a registered trademark of MasterCard International Incorporated.