End collection issues by offering an easy way for your clients to pay upfrontOffering Intuit ProLine EasyCollect allows your clients to pay you out of their refund. You can also rest easy knowing you will get paid at the same time your client gets their refund - automatically. Intuit ProLine EasyCollect is offered in partnership with financial institutions and is the easy way to end the pain of collections. |
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Advantages to You:
- Accept more clients you would typically turn away.
- Lower risk of slow or no pays by having your fee taken out of the refund.
- Save time by eliminating collections work.
- Improved cash flow because payment is received when your client gets their refund.
- Flat fee per transaction is a fraction of the cost of doing collections.
- Monetary incentives from financial institutions (based on volume).
"Using Intuit ProLine EasyCollect means I know I'm going to get paid in about 10 days."
Lou Cannizzaro, CPA Advisory Group, LLC
Advantages to Clients:
- Get refund sooner than traditional mail.
- No out of pocket cost to get return done.
- Confidence because you prepared their return.
"Clients love it! They get their refund quicker since it is more like a direct deposit."
Caroline Kelly, Davis-Mason Group
How It Works
Intuit ProLine EasyCollect is a bank product but it is NOT a loan. You simply pay the bank a flat fee to take the client's refund and distribute it appropriately between you and the client. Options vary per bank.
Step 1:
Enroll with one of our support banks by 12/31/09 to ensure you are all set when the season starts. There are no sign up fees and no obligation to sign up.
- Santa Barbara Bank & Trust - Works within the ProSeries products.
SBBT Enrollment Information - Refund advantage - Access via their 24.7 Web site.
Enroll Now
Step 2:
Prepare the return same as always. The only difference is to check the "refund transfer" option before e-filing the return. Then have the client sign the release form provided by the bank. If using Refund Advantage, you will also need to complete a form on their Web site.
Step 3:
Sit back and wait for the funds to be deposited, typically within 10-14 days. If your client chooses direct deposit, your bank will transfer those funds as well. If not using direct deposit, your bank will provide you the option to print a check for your client.
Frequently Asked Questions
What is the difference between EasyCollect and Refund Transfer?
There is no difference between these two products. They are the exact same thing. You will sometimes see it referred to as refund transfer in the ProSeries product.
Is this a loan?
No. Although Intuit ProLine EasyCollect is considered a "bank product" because a bank is involved in the process, there is no loan given or interest charged. The banks fee is a flat rate per return.
How soon would I get my payment?
The funds are deposited only when the IRS pays the refund which is usually 10-14 days after the return is filed.
How much does this cost?
Intuit ProLine EasyCollect has a small one-time fee per return and will vary based upon the bank, though typically under $36. There are no additional fees charged from ProSeries to do a refund transfer.
Who pays the bank fee?
The bank takes their fee out of the refund as well. Many tax preparers build this fee into their preparation fee to set the correct expectations with their clients on the exact amount to expect for their refund.
Which bank should I use?
Each bank offers a different service experience. You will need to determine for yourself which bank fits the way you do business. It is worth noting that the Santa Barbara Bank & Trust option is the only one that is integrated into the ProSeries product.
What if my client is not getting a refund?
In this case, you would not be able to utilize a refund transfer. Intuit does offer credit card solutions to allow you to collect payment before filing the return.
