Warning: H&R Block 2009 Tax Rapid Refund Anticipation loan complaints

From personal experience, I can heartily recommend TorboTax online. Good stuff, cheap.

my mother n law is a accountant and she does ours online through turbo tax. she told me that i could do it, that its so easy. but i would just rather her do it! but my days of h&r block were over about 3 years ago. my usual refund was around 1500.00 till i paid my bill to them it was just over 1,000 and my mother n law always gets me around 3,000. i will never use them again.

there was a class action law suit not to long ago that i participated in, got my huge chunk of 3.00. not to long ago. and as for paying the rapid refund i am way too cheap. look at it this way you have gone that long without it you cant wait a few more weeks? mine is usually deposited in my checking in about 2 weeks. i would never pay that kind of money to get it in a few days.

Hi. I know that there are good and bad of every situation and HR BLock has thier own bank so they probbaly are at higher risk. This service does not check credit and also gets the rapid returns quickly for their clients.

link removed

Here are some good reasons why people do this and don't just do it themselves:

Govt isn;t always going to be 10-14 days - I would question it this year for sure

Statistics show 12% of all returns have some sort of error and are adjusted downward so thus the immediate return guarantees them their money quickly

Some divorced clientele have to ensure they get their rights ensured adn are first in in order to not have a big fight on thier hands

Some poeple especailly these days need to pay thier rent as the one post mentioned or pay bills and can not wait.

Again every situation is different. However, not disclosing the credit pull I believe is not only unethical but illegal. It is probably in the small print.

Actually if you are denied the loan the loan fees are eliminated however due to the IRS still being told to deposit the money with the RAL bank and the agreement to take the cost of preparation from the refund the bank still charges the fee that would have been charged for the RAC product. HOWEVER the LOAN INTEREST that would have been charged is removed by the BANK. Interestingly MSN has a test to see if you should do your own taxes. Take it if you score less than 80 you should not be doing your own taxes you will probably be ahead of the game having a professional do them for you after their fees and save you a lot of time.

PS The average score on the MSN tax quiz is arount 50 it gets a little higher as the test takers income goes up,.

The application says in Big Big letters it is a LOAN, if a bank is going to loan you money they are going to check your credit. It says so in not quite so large print but not really small either. Any body asking for a Loan should read the contract before signing. Banks do not give away money they want it back some time in the future with interest. To a large extent most bank RAL denials are because the applicant was not so truthfull with their answers to the application questions for bad debts, bankrupcy and owing money for student loans and back child support or back taxes owed to States and the IRS and US Treasury.

I'm sorry, but I just don't see the allure of this type of loan. Let's see: paying large fees to get your own money AND if you're denied, you're still out some of the cash? Sounds like a PDL with your own wages to me!
In reading through this thread, it's like what what was stated before: file early, file electronically if you can, and your refund is in your account in a matter of two weeks on the average. Sounds good to me!

lol...i would never let you do my return, you cant spell wow!! That has nothing to do with it. They are just being very picky for the ral now!!

I don't get why people use this service either unless you need your Tax Refund in the 48 hours. I use Turbo tax and have used it for about 5 years. 2 years ago I went to a H&R block and they wanted to charge me 400 to do my taxes and I wasn't asking for the 24 to 48 hours loan.. The funny thing was I had already done my taxes on Turbo tax but wanted to see if H&R block could find more deductions for me.. The were within pennies of what Turbotax said and Turbotax cost me 19.95.

If you don't need the rapid refund save your money and use the online resources it will guide you through and make sure you don't miss anything.

my wife did the RAL, and was denied. this suck....H&R Block need to be sued.

yeah i will never use h&r block again. i paid for the instant loan and had to wait like eveyone else. i even got the emerald card. i hope the funds are there by the 29th.

Here what comes from the following website
http://www.hrblock.com/taxes/product...t_options.html

The numbers relate to this scale
Federal Refund Anticipation Check1 Time frame 8-15 days

H&R Block Emerald Prepaid MasterCard®2 Time Frame 8-15
Classic Refund Anticipation Loan3 Time Frame 1-2 days
Instant Refund Anticipation Loan4 Time frame some within mins
1Provided by HSBC Bank USA, N.A. if application is submitted in CA, CT, DE, DC, FL, IL, MA, MD, NJ, NY, OR, PA, VA, or WA, or HSBC Trust Company (Delaware), N.A. if application is submitted elsewhere. Fees and additional terms and conditions apply. Tax refunds can be obtained without a Refund Anticipation Check, a loan, or extra fees if tax returns are electronically filed with direct deposit. At participating offices.

2The H&R Block Emerald Prepaid MasterCard® is issued by H&R Block Bank, a Federal Savings Bank. Member FDIC pursuant to a license from MasterCard International. Fees may apply. MasterCard is a registered trademark of MasterCard International Incorporated. Emerald Card is a trademark of HRB Innovations, Inc. This product may not be available at some locations. This product is covered by one or more of the following U.S. patents: 6,000,608, 6,189,787, 7,072,862, 7,127,425 and 7,177,829. ©2009 H&R Block Services, Inc.

3Subject to credit approval and other qualifications. Classic Refund Anticipation Loan ("Classic RAL") is a loan provided by HSBC Bank USA, N.A. if application is submitted in CA, CT, DE, DC, FL, IL, MA, MD, NJ, NY, OR, PA, VA, or WA, or HSBC Trust Company (Delaware), N.A. if application is submitted elsewhere. A Refund Account fee and a Finance Charge may be charged by the lender. An affiliate of H&R Block may purchase an interest in Classic RALs. Amount received may be reduced for certain debt owed to HSBC and H&R Block. At participating offices. Tax refunds can be obtained without a Refund Anticipation Check, a loan or extra fees if tax returns are electronically filed with direct deposit.

4Subject to credit approval and other qualifications. Instant Refund Anticipation Loan ("Instant RAL") is a loan provided by HSBC Bank USA, N.A. if application is submitted in CA, CT, DE, DC, FL, IL, MA, MD, NJ, NY, OR, PA, VA, or WA, or HSBC Trust Company (Delaware), N.A. if application is submitted elsewhere. A Refund Account Fee and a Finance Charge may be charged by the lender. An affiliate of H&R Block may purchase an interest in Instant RALs. If you apply for an Instant RAL, and you don't qualify, you may qualify for a Classic RAL. Amount received may be reduced for certain debt owed to HSBC and H&R Block. At participating offices. Tax refunds can be obtained without a Refund Anticipation Check, a loan or extra fees if tax returns are electronically filed with direct deposit.

I have done HR Block online for free for 6 years...never done RAL b/c i could afford to wait 10 biz days for my refund.RAL's imho cost way too much for the speed of "possibly" getting your refund in 2-5 days.

Sorry you guys got burned this year with RAL but again HR Block online for free can't be beat.

just happen to me folks...i just paid a total of 600.00 in fees for everything file and to be turned down and not get my check in 2 days ...i only went to H&R BLOCK because i was needing money fast to pay on my house payment so i didn't have to get a loan from 401k....well...it was so stupit of me ...H&R BLOCK is a joke ..they know how to stick it to you .stay away from them all together !!!

To hazard a guess, I'd have to say that they saw you coming...

Next time, try this:

- Go to www.irs.gov, and click on free file.

- Scroll down until you find TurboTax online.

- Do yer taxes, efile, and use direct deposit.

You can get your federal in about ten days. Without a scam loan.

I think most of the problem is selective hearing. I have used H&R Block and in a time of need had to rely on the RAL. The tax preparer explained all my options and what the bank looks at to see if I'm approved. He (the tax preparer) also explained what would happen if I was not approved. I think people get upset and don't take time to listen to what is being told to them. Why would any bank loan you money with out a credit check?