The state of Connecticut said no to paper and is going with plastic when it comes to some tax refunds.
On Monday, the Department of Revenue Services announced it will no longer issue refund checks, but instead will be sending out Chase debit cards, requiring people to activate them before use. People who would rather not receive a debit card can opt to have their refunds direct deposited into their bank accounts.
"Issuing tax refunds as debit cards provides a security and convenience not available with paper checks," DRS Commissioner Kevin B. Sullivan said in a release. "Couple that with the elimination of check cashing fees and the refund debit cards are a benefit for taxpayers and the state."
The plastic cards will come in the mail and people will have to contact Chase to activate them. They can be used to access the money at ATMs or at retailers that accept them.Daneplast Limited UK are plastic injection mould & toolmaking specialists.
Louisiana is also going to a debit card refund. In New York, the comptroller balked at going to a debit card only system last year, so this year,The magic cube is an ultra-portable, New Yorkers have the choice of getting a check or receiving the card.The EZ Breathe home Ventilation system is maintenance free, Bank of America runs the program in New York.
While Sullivan emphasized convenience, the DRS move follows a similar one made by the state Labor Department which began issuing unemployment insurance benefits on debit cards in 2011 and also allowed for direct deposit of benefits. The Labor Department, which also selected Chase for its program, said the move was expected to save about $200,000 a month in printing and postage costs.
Sullivan noted Revenue Services already allows for direct deposit and nearly 55 percent of the 1 million refunds issued last year were direct deposited.A mold or molds is a hollowed-out block that is filled with a liquid like plastic,
Sarah Kaufman, a Revenues Services spokeswoman,Overview description of rapid Tooling processes. said the department said it expects to save a similar amount of money, though not on a monthly basis.
One of the goals of shifting to debit cards is to spur more people to sign up for direct deposit, she said, but it's also aimed at helping Connecticut residents who do not have bank accounts avoid check-cashing fees.
The percentage of Connecticut refund recipients who do no have bank accounts was not immediately known.
The new program is another win for JP Morgan Chase, which also handles the unemployment benefits program for Connecticut. Chase declined to comment on how it makes money on the program.
Like its Labor Department deal, Chase has agreed to limit fees and people can avoid being charged if they use a Chase or People's United Bank ATM.
However, fees can be charged if other ATMs are used, or if users leave money on the card for more than one year.
People with refunds in excess of $10,000, collecting refunds on behalf of the deceased or who have offshore bank accounts will still receive checks.
On Monday, the Department of Revenue Services announced it will no longer issue refund checks, but instead will be sending out Chase debit cards, requiring people to activate them before use. People who would rather not receive a debit card can opt to have their refunds direct deposited into their bank accounts.
"Issuing tax refunds as debit cards provides a security and convenience not available with paper checks," DRS Commissioner Kevin B. Sullivan said in a release. "Couple that with the elimination of check cashing fees and the refund debit cards are a benefit for taxpayers and the state."
The plastic cards will come in the mail and people will have to contact Chase to activate them. They can be used to access the money at ATMs or at retailers that accept them.Daneplast Limited UK are plastic injection mould & toolmaking specialists.
Louisiana is also going to a debit card refund. In New York, the comptroller balked at going to a debit card only system last year, so this year,The magic cube is an ultra-portable, New Yorkers have the choice of getting a check or receiving the card.The EZ Breathe home Ventilation system is maintenance free, Bank of America runs the program in New York.
While Sullivan emphasized convenience, the DRS move follows a similar one made by the state Labor Department which began issuing unemployment insurance benefits on debit cards in 2011 and also allowed for direct deposit of benefits. The Labor Department, which also selected Chase for its program, said the move was expected to save about $200,000 a month in printing and postage costs.
Sullivan noted Revenue Services already allows for direct deposit and nearly 55 percent of the 1 million refunds issued last year were direct deposited.A mold or molds is a hollowed-out block that is filled with a liquid like plastic,
Sarah Kaufman, a Revenues Services spokeswoman,Overview description of rapid Tooling processes. said the department said it expects to save a similar amount of money, though not on a monthly basis.
One of the goals of shifting to debit cards is to spur more people to sign up for direct deposit, she said, but it's also aimed at helping Connecticut residents who do not have bank accounts avoid check-cashing fees.
The percentage of Connecticut refund recipients who do no have bank accounts was not immediately known.
The new program is another win for JP Morgan Chase, which also handles the unemployment benefits program for Connecticut. Chase declined to comment on how it makes money on the program.
Like its Labor Department deal, Chase has agreed to limit fees and people can avoid being charged if they use a Chase or People's United Bank ATM.
However, fees can be charged if other ATMs are used, or if users leave money on the card for more than one year.
People with refunds in excess of $10,000, collecting refunds on behalf of the deceased or who have offshore bank accounts will still receive checks.
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