Would You Want Your Tax Return on a Debit Card? [Poll]
The state appears to be moving forward with a plan to provide tax returns on a pre-loaded debit card. Is that how you want your money back?
Don’t want to use direct deposit for your state income tax return? That may leave you waiting for a debit card this year instead of a paper check.
The state Department of Revenue Services is making a move that will eliminate paper checks, instead turning to debit cards for residents. Those receiving under $10,000 from their income tax returns and live in the United States
According to an article published Tuesday on the Hartford Courant website, approximately one million people received some form of income tax return and about 470,000 filers received checks instead of opting to use the direct deposit systems.
This year, they will instead receive a card, the Courant writes:
If filers don't choose direct deposit this year, their money will come in the form of a debit card, in a program paid for and administered by JP Morgan Chase and People's United Bank.
The program may be part of the paperless movement, but it has left some state legislators, including State Rep. Rob Sampson, concerned that it could create an inconvenience for those looking to deposit the refund into their banking accounts to pay bills. Even worse, the change to debit cards could even lead security issues by increasing the chance for theft.
Sampson, R-Southington and Wolcott, said he would rather see people given checks so they can deposit the money or cash the check as they wish.
“It’s not a move I’m in favor of,” Sampson said. “What happens if it is stolen? The cards could be used for smaller purchases at a number of locations without any identification. People should be given the option of whether they want a card or a check.”
So where do you stand? Would you prefer a check, a card or do you use direct deposit? Be sure to vote in our poll and share your comments below.
Amy Rosenfield
6:29 am on Wednesday, February 1, 2012
Debit rebate cards are a pain. I've gotten 3 recently, one from Verizon and 2 from cibavision from contact lens. They don't work some places, you have to track how mch is on them or they get rejected. It's very frustrating. I think this is a really bad idea
Jesse Weintraub
6:41 am on Wednesday, February 1, 2012
Let me get this straight: To become paperless, we're going to plastic? This is a joke, right?
So we will create 10 million plastic "credit cards", mail them and then mail later your pin number? Another piece of paper (and postage). Who thought this one up? Oh, wait a minute, J P Morgan and People's United, both eager to hold all those under $10 thousand refunds that aren't direct deposited. Yes folks, this is brought to you by the same friendly folks who brought you the mortgage meltdown!
What I'd like to know is what monkey at DRS bought off on this. Unbelievable!
John Bolton
12:03 pm on Wednesday, February 1, 2012
agreed jesse. this makes no sense and im suspecting after seeing the epic fail and fallout from this, it wont last another year.
also if your refund is over 10K you are either doing your taxes incorrectly or like giving the government free loans
Ron White
7:41 am on Wednesday, February 1, 2012
Some bank is going to be making a lot of money off this!
I doubt i'll be getting a refund this year.
I'll take the direct deposit.
R Eleveld
8:55 am on Wednesday, February 1, 2012
I think it should be made clear....
If you have direct deposit this does not apply to you.
If your refund is over 10K, this does not apply to you.
If you choose to get a check and not use the safest and fastest way to get your refund , Direct Deposit, then you will get a debit card.
If you have no bank account, or think that by not providing your bank information that Big Brother does not know where your bank account is, then what are you going to do with a check? Cashing checks for cash is getting harder.
BTW, checks are stolen all the time and converted to cash.
Bob Timpe
8:56 am on Wednesday, February 1, 2012
Debit cards would be good for those that do not have checking accounts. The concern I have is what the conditions would be to maintain the card, relating to the fees & accessibility to use the card. Of course this would probably be dictated by the bank servicing the card & we all know how sometimes that goes!
Tricia G.
12:52 pm on Wednesday, February 1, 2012
Can't understand why anyone with a bank account would not want their refund direct deposited. It is faster and safer. We have had ours DD for years and it has worked perfectly.
Laurie
1:05 pm on Wednesday, February 1, 2012
If the DRS felt the need to use debit cards, why didn't they do business with a bank based in CT? Probably for the same reason the Governor chose to spend our ad $$$ with advertising agency out of state. Does anyone know what kind of deal was made with Chase? They must be being paid, so how much money is this really saving us?
Malvi Lennon
3:02 pm on Wednesday, February 1, 2012
I would love to know exactly how much money Chase execs donated to Malloy and co.
Jack R.
4:03 pm on Wednesday, February 1, 2012
From the state's perspective, they may be looking at a savings from not printing and mailing the checks. Chase may be absorbing all of the costs of mailing the debit cards and pins in exchange for the business. Not sure. I'll stick with direct deposit.
Tony M
6:42 pm on Wednesday, February 1, 2012
Debit cards are dangerous to the average person; unless you keep an accurate tabulation of your checking account. A debit card, paper letter explaining the card, envelope and, stamp. Where in H*LL is the savings?