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Liberty Tax introduces banking as a service with “DEEPBLUE ™ Debit”

By on February 1, 2022 0

Leading tax preparer expands financial services for consumers and small businesses

HURST, Texas, February 1, 2022 / PRNewswire / – Tax on freedom, one of North America leading tax settlement companies today announced the commercial launch of theirs DEEPBLUE ™ overdraft facility (DEEPBLUE) Banking-as-a-Service mobile application without credit checking1 or minimum balance requirements. The DEEPBLUE solution received very positive feedback from the first customers.

DEEPBLUE overdraft benefits:

  • A bank account with a MasterCard® brand debit card offered by the Republic Bank & Trust Company, an FDIC member.

  • Increased account security: the ability to easily suspend / limit card activity

  • Direct Tax, Wage or Benefit Refunds up to two days faster2.

  • Transfers from account to account

  • Capturing mobile checks3

  • Refund rewards program4

  • High performance savings account option5

  • Overdraft protection option6

  • Budgeting tool

  • Other value-added features in development

We invite you to visit our website for more information on DEEPBLUE and to open an account at any of our branches.

Brent Turner, CEO of Liberty Tax, said: “We are proud to offer our customers this exciting new range of solutions that will strengthen their financial stability and growth, complementing our growing service base. We expect significant synergies in providing the convenience and power of DEEPBLUE to build from the value we provide to our over 1.6 million Tax on freedom customers.

“Our investment in this new technology, built from the ground up to provide hassle-free and satisfactory customer service, is the next step in our strategy of building a comprehensive set of complementary financial services solutions for our clients. We believe that our clients will appreciate the value and efficiency of managing the growing range of their financial services needs, all from the convenience of a mobile application. them. committed to helping them reach the next point in their financial goals ”.

About the tax on freedom

Tax on freedom, a portfolio company NextPoint Financial Inc. (TSX: NPF.U and OTC Pink: NACQF) is a tax preparation service with over 2,700 locations serving approximately 1.6 million individual and small business customers across United States and Canada. Established in 1997, Liberty Tax is one of the nation’s leading tax settlement companies, with franchise offices in every major city area throughout the United States and Canada. For more detailed information, please visit Freedom Tax Service and next Facebook.

1.

IMPORTANT INFORMATION ABOUT OPENING A NEW DEPOSIT ACCOUNT: To help the federal government fight terrorist financing and money laundering, the USA PATRIOT Act requires us to obtain, verify and record information that identifies each person who opens an account. WHAT THIS MEANS FOR YOU: When you open an Account, we will ask for your name, address, date of birth and your governmental identification number. We may also ask for a copy of your driving license or other documents at any time. All Accounts are opened provided we are able to verify your identity by requiring an acceptable type of identification. We may verify the information you provide to us to ensure that we have a reasonable belief in your identity. If we are unable to satisfactorily verify your identity, we will not open your Account or we may close your Account if it was previously funded. Your Account is subject to fraud prevention restrictions at any time, with or without notice.

2.

The claim for faster funding is based on a comparison of the Republic Bank & Trust Company’s policy of releasing funds upon receipt of payment instructions to a typical banking practice of posting funds at settlement. Fraud prevention restrictions may delay the availability of funds with or without notice. Early availability of funds requires the support of the payer by direct payment and depends on the date of submitting the payment instruction by the payer.

3.

Mobile Check Capture is a service provided by Sunrise Banks, NA and Ingo Money, Inc. and is governed by the Sunrise Banks and Ingo Money Terms and Conditions and Privacy Policy. Approval verification typically takes 3-5 minutes, but can take up to an hour. All checks are approved for funding at Ingo Money’s sole discretion. The fees apply to approved transactions. Money in minutes, deposited into your Account. Unapproved checks will not be credited to your Account. Ingo Money reserves the right to recover losses resulting from illegal or fraudulent use of the Ingo Money service. Your wireless operator may charge for using messages and data. Additional transaction fees, costs and conditions may apply to the financing and use of your Account. Details can be found in the escrow account agreement.

4.

Payback Rewards is an optional program. You can unsubscribe at any time by visiting the Payback Rewards page in your online account center. Reward offers are based on individual purchasing habits. Cashback rewards are normally credited to your card account within 60 days and are not available by check or other direct payment method. Please see the program frequently asked questions and terms in your Online Account Center for additional information on how and when you will receive your reward. Program sponsor: Netspend Corporation. Republic Bank & Trust Company, Visa and Mastercard are in no way affiliated with this program and do not endorse or sponsor this program

5.

The savings account associated with the DEEPBLUE ™ debit account is made available to account holders through the Republic Bank & Trust Company, a member of the FDIC. Interest is calculated on the average daily balance of the Savings Account and is paid quarterly. If your average daily balance is $ 2,000.00 or less, the interest rate on your entire balance will be 5.87% with an Annual Percentage Profit (APR) of 6.00%. If the average daily balance is more than $ 2,000.00, the interest on the portion of the average daily balance that exceeds $ 2,000.00 will be 0.49% with an APR of 0.50% and the interest paid on the portion of the average daily balance of 2 $ 000.00 or less would be 5.87%. The APRC for this level will range from 6.00% to 0.60% depending on your account balance. Interest rates and APRC at any level are subject to change. The APRs were accurate from 1-1 to 22 years. There is no minimum balance to open a Savings Account or earn profit (s). Funds from the Savings Account are withdrawn via the DEEPBLUE ™ Debit Account (maximum 6 such transfers in a calendar month), and transaction fees may lower the interest on the savings account. All funds held by you in the Republic Bank & Trust Company will be summed up to your coverage limit, currently $ 250,000.00, and will be insured by the FDIC.

6.

The overdraft debit service is an optional service provided to eligible DEEPBLUE Debit customers by the Republic Bank & Trust Company, member of the FDIC. Upon registration and meeting the eligibility requirements, you will be charged $ 20.00 for each transaction that exceeds your account by more than $ 10.00, up to a maximum of five (5) fees per calendar month. To avoid this fee, you have twenty-four (24) hours from the first transaction that creates an overdraft to restore your account to zero ($ 0.00) or a credit balance. Transactions subject to a debit fee include a one-time PIN and signature-based purchase and ATM withdrawals. Other transactions, including ACH debit transactions, are not eligible for coverage. Any negative balance must be repaid within thirty (30) days. Whether we authorize an overdraft is discretionary and we reserve the right not to pay. For example, we usually won’t pay your overdraft unless you meet the eligibility requirements for this service or try too many transactions or transactions that result in too much overdraft. Call us at 833-954-1605 or log into your Online Account Center for any additional terms that apply, including pre-service and ongoing service eligibility requirements. This service is expensive so we encourage you to look for alternatives before signing up. After signing up, you can opt out at any time; however, you are responsible for paying off any excess amounts in your account, even if you cancel the service.

The DEEPBLUE ™ debit account is an escrow account provided by the Republic Bank & Trust Company, a member of the FDIC. Netspend is a service provider for Republic Bank & Trust Company. Certain products and services may be licensed under US Patent Nos. 6,000,608 and 6,189,787. Fees, Terms and Conditions apply.

Cision

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SOURCE Freedom Tax