According to Republic Bank, a Refund Transfer (RT) allows customers to pay their tax preparation related fees and other amounts with their refund. The Refund Transfer Fee will be charged upon receipt of the first funding, regardless of whether it is a federal or state refund. A Subsequent Funding Fee will apply for each additional funding we receive, regardless of whether it is a federal or state refund.
A Refund Transfer has three main characteristics.
- Convenience
- Speed
- Security
