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Want to get your refund faster? Financial
Institution Products We offer the convenience for you to apply for financial institution products that may possibly deliver sums associated with your refund to you earlier in certain cases. These products will also provide you the possibility of paying our fees from the proceeds of your refund. We will obtain your application for these products and pass them on to the financial institution that will provide you these products. We are not part of the financial institution, nor does the financial institution have any relation to us other than receiving your application for their products through our site. We provide this service to you as a one-stop-shopping convenience in the event that you desire such products. This is an offered option and is not a mandatory choice for those who are claiming at least a certain level of refund. The financial products are provided to you by the SANTA BARBARA BANK & TRUST (BANK). Once we convey your application to the BANK, we will have no further control of your refund related proceeds or other dealings with the BANK. Therefore, all your comments and inquiries regarding the processing of the financial institution products will have to be directed solely to BANK at Refund Anticipation Loan Department At this time, two products are offered as follows: The Refund Anticipation Loans (RALs) The first is the Refund Anticipation Loan (RAL) and the second is the Refund Transfer (RT). RALs, as the name implies, are loans made to taxpayers on the basis of the refund that is anticipated to arrive from the Government. In this case, the taxpayer assigns the total amount of the anticipated refund to the BANK and the Government eventually delivers the refund to the BANK. However, if the BANK agrees to do so, will deliver the loan proceeds to the taxpayer prior to collecting the actual refund amount from the Government. The amount delivered will be the refund amount reduced by our service/user and application fees plus the BANK's RAL fees. The BANK may further limit the amount of the loan to lesser values in the certain cases such as those in which the anticipated refund contains Earned Income Credit in excess of certain limits. In such cases, the BANK may deliver certain portion of the funds at a later time. The advantage of this product may be that, the taxpayer may receive the loan funding earlier than the Government's time of delivery of the refund and also may have our service/user and application fees plus the BANK's RAL fees out of the refund. FileYourTaxes.com and Tax Advice Line make no warranties in relation to the amount or delivery times of such loans that will be made available to you by the BANK. All of the products require that the taxpayer be of at least 18 years of age in order to enter into an agreement. Other requirements for the RALs exclude submissions where
FileYourTaxes.com makes no warranties in relation to the amount or delivery times of such loans that will be made available to you by the BANK Other limitations may apply. Refund Transfers (RTs) The second product offered is the Refund Transfer Direct Deposit (RTDD). This product provides the delivery of the taxpayer's refund after the BANK receives refund amount from the Government. The advantage of this product may be that the taxpayer may have our service/user and application fees plus the BANK's RTDD fees out of the refund. Both of these products are offered within the guidelines of the Debt Indicator pilot program (DI). Both, FileYourTaxes.com and the BANK are industry partners to the Internal Revenue Service (IRS) in the DI The DI allows the Government to provide a debt indicator in the acknowledgment file to the which may indicate to the BANK as to whether the taxpayer has certain outstanding monetary public obligations. If any such amounts are owed by the taxpayer, the refund may be applied to satisfy these amounts and not issued to the taxpayer. For this reason, an indicator showing the existence of such public obligations may result in the denial of the RAL product. Timing Involved The following information is provided by the BANK in regards to the funding times: It takes 2-3 business days from the time the IRS acknowledges your tax return for RAL proceeds to be deposited to your bank account. Allow 24-48 hours for IRS acknowledgement. Delays in the transfer of money can occur within the Federal Reserve ACH deposit system due to the location of the sending and receiving banks and because the system does not operate on weekends or holidays. For that reason, it may take from 2-3 business days from the time the IRS acknowledges your tax return and BANK approves your loan for your RAL proceeds (total RAL amount minus all fees and charges) to be available in your bank account. Allow 24-48 hours for IRS acknowledgment. Costs The fees for the RALs is based on the amount of the borrowed sums. The BANK provides the following fees for the loan amount ranges indicated:
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