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TheStreet Open House

Western Union Joins Advent Financial To Offer Tax Refunds On Prepaid Cards

Stocks in this article: WU

Just in time for tax season, Western Union today announced that it has joined forces with Advent Financial to offer quick and easy access to tax refunds on prepaid cards at more than 5,000 tax preparer locations in over 45 states.

Beginning next week, people filing their federal and state tax returns at tax-return preparation offices offering financial products through Advent can elect to receive their refunds on the Get It Prepaid MasterCard®, a general-purpose reloadable (GPR) prepaid card offered by Western Union and Advent.

Not only can the Get It Card be a quicker and more convenient method of receiving a tax refund than a paper refund check – it can be used after the refund has been spent. Cardholders can reload their cards at one of 45,000 Western Union ® Agent locations in the U.S., by transferring money from a bank account, via direct deposit or by directing a Western Union Money Transfer ® transaction directly onto the card.

“According to the FDIC, nearly one-third of people in the U.S. are underbanked,” said Mike Hafer, SVP, Global Stored Value, Western Union. “This card has the power to bring many into the financial mainstream. We’re proud to offer a great way for people to manage their finances and now, receive their tax refunds conveniently.”

According to the U.S. Department of the Treasury, the number of people electing to receive their refunds on prepaid cards has grown steadily and is projected to continue to grow – especially as more and more states eliminate paper refund checks altogether.

“We are pleased to team with Western Union to extend the functionality of our Get It Card at tax time and beyond,” said John Thompson, President, Advent. “Together we have created access to a highly functional and convenient set of features to help improve the financial capabilities of our cardholders. We are also excited about the important client referral opportunities now available to our tax preparers through this alliance with one of the world’s most recognizable brands.”

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