Chowdahead Posted January 16, 2009 Report Share Posted January 16, 2009 Last year I had no major issues with using two banks: River City and SBBT. But this year ATX is telling me that I can only use one bank, even though I can actively switch between the two banks in the online bank products manager Personally, I prefer SBBT. Customer service is better and turnaround time for Refund Transfers is only 9-11 days usually. That's pretty quick. But their 24 Hour product is expensive. It's $80-$90 more expensive than River CIty in many cases. River City is a good choice to have when I want to offer a better value to my customers. I had quite an animated discussion with Support because no where does it say that EROs must stick to one bank. It doesn't say it in the EULA, or on the page where you make the applications and can switch between banks all-season long. Once I said this, I was told that I could switch but I would be locked out for 24-48 hours. To me this doesn't sound like good info. I realize most of the users around here don't deal with Bank Products, but for those that do, have you had any experience with this tupe of issue yet? Quote Link to comment Share on other sites More sharing options...
taxtrio Posted January 16, 2009 Report Share Posted January 16, 2009 I signed up for Chase this year... I read the disclosure on Chase Site. It stated that I agree to use only there Bank Product this year.... I have no problem with that as I only do a few Ral/Rac's each year. and HSBC isn't in with us this year (ATX). Taxtrio Quote Link to comment Share on other sites More sharing options...
David1980 Posted January 16, 2009 Report Share Posted January 16, 2009 Two thoughts on that. One, if you're doing something "weird" that front line support, many of which are lowly paid temps, do not have experience with it's often easier to give an answer, any answer, than to worry about finding the truth out. After all, you're probably the only guy who'll ask that question this year. If they claim it's a bank rule ask them to cite it. Where does it say that you can't? Etc. Also make clear you're willing to take a callback on it. If the impression is you need an answer and you need it now, you'll get an answer and you'll get it now (but it won't necessarily be accurate.) Finally, it could simply be that they won't support it. Quote Link to comment Share on other sites More sharing options...
BulldogTom Posted January 16, 2009 Report Share Posted January 16, 2009 SBBT contract says you can't use another bank. You sign up with them exclusively. Tom Lodi, CA Quote Link to comment Share on other sites More sharing options...
Chowdahead Posted January 16, 2009 Author Report Share Posted January 16, 2009 SBBT contract says you can't use another bank. You sign up with them exclusively. Tom Lodi, CA Really? I read through the contract twice and didn't see it. I must have missed it. If it does then I will be using SBBT without a doubt. It just kills me to have to charge anyone over $300, including my fees and bank fees, when they are looking for the 24 hour product. Right now, SBBT Charges over $300 in just their fees, without me even adding in tax preparation fees. I love their service but wish they were a bit cheaper. Quote Link to comment Share on other sites More sharing options...
BulldogTom Posted January 16, 2009 Report Share Posted January 16, 2009 Wow, how are you adding that up? Are you including the Instant RAL? Because the fees are limited to $100 plus the $30.95 service fee plus the $10 ATX Extortion Fee. On a $5,000 Regular Ral, I come up with $140.95. Of course, I add in my $19 for filing out the App and going through all the disclosures. Have you looked at all the crap we have to print and have them sign this year? What a joke. Their lawyers are working overtime. Tom Lodi, CA Quote Link to comment Share on other sites More sharing options...
Julie Posted January 17, 2009 Report Share Posted January 17, 2009 SBBT rejected me...I don't know why. I only do about 10 bank products a year (~5 RALS). No losses that I know of, but HSBC won't give me a copy of the loss report. I'm trying a couple others...a long time ago, I was with River City, but switched when they started $100 up front to providers doing fewer than...I think it was 100 RALS. Quote Link to comment Share on other sites More sharing options...
Chowdahead Posted January 17, 2009 Author Report Share Posted January 17, 2009 Wow, how are you adding that up? Are you including the Instant RAL? Because the fees are limited to $100 plus the $30.95 service fee plus the $10 ATX Extortion Fee. On a $5,000 Regular Ral, I come up with $140.95. Of course, I add in my $19 for filing out the App and going through all the disclosures. Have you looked at all the crap we have to print and have them sign this year? What a joke. Their lawyers are working overtime. Tom Lodi, CA Wow your right. For some reason I was completely forgeting about the maximum they could charge. I was calculating their 2.5% plus $31 all the way up to the $10,000 max. So this makes SBBT a fair deal then. Well... as fair as you can consider a RAL. But to each his own. Personally, I would never use a RAL. But some customers want their money fast so I have to offer it. Yeah the paperwork is nuts. Not even so much the paperwork, but the number of boxes that have to be checked in the program, like 2 consent forms. It slows the process down.. Plus they don't allow a doc fee to be entered so any fees for all the paperwork have to be entered in the efile box or the tax prep box. Quote Link to comment Share on other sites More sharing options...
Chowdahead Posted January 17, 2009 Author Report Share Posted January 17, 2009 SBBT rejected me...I don't know why. I only do about 10 bank products a year (~5 RALS). No losses that I know of, but HSBC won't give me a copy of the loss report. I'm trying a couple others...a long time ago, I was with River City, but switched when they started $100 up front to providers doing fewer than...I think it was 100 RALS. SBBT is a bit picky. River City is ok, but you can tell they are a small operation. They don't charge $100 up front. At least they didn't charge me. HSBC are jerks. I managed to get my loss ratio from them last year amidst them trying to ditch all independent preparers. My loss ratio was also 0% out of about 50 RALs. Quote Link to comment Share on other sites More sharing options...
Julie Posted January 18, 2009 Report Share Posted January 18, 2009 Well, so far, I'm being rejected by everybody. It was about 6 years ago that River City charged the $100. They seem to have dropped the practice. I still have not gotten anything from HSBC. The only bank that has not rejected me outright is Chase, and they're waiting for that loss ratio. That I can't get. I only need them for a few clients, but those are the ones who've been with me since day one, and I would feel seriously lost if I lose those few over this issue. (Looks like I've lost one already. Someone who's been with me since my days at Block and referred lots of her friends over the years. Must have RAL today. I can't do it. Quote Link to comment Share on other sites More sharing options...
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