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NEW YORK–(BUSINESS WIRE)–Feb. 8, 2005–
HSBC Bank USA, N.A. Branches to Cash Tax Refund Anticipation Loan Checks at No Charge. Refund Anticipation Loan Customers Will Also Be Encouraged to Open Free Checking Accounts at Its Branches
A free check cashing offer is now being extended to all refund anticipation loan and refund anticipation check customers serviced by HSBC Taxpayer Financial Services. All HSBC Bank USA, N.A. branches in New York State will cash these checks for both bank customers and non-bank customers at no charge. One form of acceptable identification is required for each payee.
In addition, H&R Block offices in New York State are currently distributing flyers to their customers encouraging them to visit an HSBC Bank USA, N.A. branch to cash their refund anticipation loan check with no fee and to open a free checking account. Those H&R Block customers who open a new checking account will receive the standard free checking offer, a free gift of an AM/FM JWIN® radio as well as a $25 cash bonus for opening a MasterMoney® debit card.
“Because approximately 25% of refund anticipation loan customers do not have bank accounts, we will be encouraging them to establish free HSBC checking accounts so that they may gain access to a wide variety of financial services,” said Martin Glynn, President & CEO of HSBC Bank USA, N.A. “Having a bank account will also allow them to avoid paying additional check-cashing charges that many of these consumers regularly pay.”
HSBC Bank USA, N.A. is the lender for the refund anticipation loan program. As part of this program, cashier’s checks are issued through HSBC Bank USA, N.A. in conjunction with taxpayers’ federal and state income tax preparation and filing. For almost 20 years, HSBC Taxpayer Financial Services (or its predecessor Household TaxMasters) has afforded millions of customers with a way to obtain access to funds through their tax-related financial services.
Source: http://householdwatc.../wp/2005/02/10/
