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

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!

Quote:

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.:mad::mad:

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/products/office/refund_settlement_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?

Yea don't use H&R Block! I did once again this year and am majorly screwed! I just got an email today saying my money should be in the bank! But if you read the fine print it says but "it may take your bank 1-4 days to direct deposit into your account"! Funny I called my bank and the deposit is not in their system yet!!!!

Quote:

OMG I can't believe I found this info!

My husband and I went to h&r block yesterday, never used them before. They charged a base rate of $250 and then with the extra forms we had I think the total was $316. We did the RAL, to us it was worth it, we are getting a lot back and it wasn't a big deal for us to pay the extra to get it sooner. BUT now I am seeing THIS! We did our taxes yesterday, if I call them today will they already know if we got approved or not? We have bad credit and knew nothing about possilby being denied.

Well H&R block just called and our check is there, crap that was quick!

Quote:

I don't know which HR BLOCK you use but I have worked at Block in SC for 15 years.In our office you are charged tax prep fees based on form used if you choose bank product RAL or Rac you are charged 29.95 and if you choose Ral additional finance fee based on refund these are bank fees we have no control of them. If you apply for RAL and are denied fees revert to RAC fees of tax prep and 29.95 bank fee

I just did my taxes with [EMAIL="h@r"]h&r[/EMAIL] block and the lady did not tell me i would recive it 08-15 day's i ask about the ral and it was after i ask that she told me it would take that long. i aways did tha ral

Use an online service like taxact or turbo tax online. I filed last week and my refund will be direct deposited on Jan 28th!

On-line tax services are definatly cheaper but there can be huge problems if there is a mistake. I filed with Turbo Tax two years ago and I thought I had filled everything out correctly and my return was accepted by the IRS but when my refund came it was for 800.00 dollars less than what Turbo Tax had showed. Because my original tax form filed with Turbo Tax was different than what the IRS had calculated my on-line tax form on Turbo Tax was removed. My printer was not working the night I had filed so I was not able to print a copy and later my return was gone off their site and I was unable to print it. Not having a copy of my tax forms created problems for me in filing for student aide and I had to stop school. I did get a corrected copy from the IRS two months later. I was never able to contact anyone at Turbo Tax regarding the problem. There is no customer service.:(

Sounds like you had a treasury offset against you.