Treasury Dept. Launches Debit Cards For Tax RefundsSubmitted by bobbyw24 on Thu, 01/13/2011 - 20:59
Americans without bank accounts may soon be able to carry debit cards.
The Treasury Department is rolling out a new program to let people collect tax refunds on government-issued debit cards, rather than via checks sent in the mail, the government announced Tuesday. By allowing consumers to collect their refunds electronically, the new program would prevent Americans from leaning on expensive check-cashing services to access their tax refunds.
But more significant, advocates say, is that it would let people who don't have bank accounts use a debit card.
"It brings people into the modern banking system," said Lauren Saunders, an attorney at the National Consumer Law Center, in Washington. "It can give them access to the world of electronic card payments."