Discussion:New Bank Product Prices that will change everything as we know it!
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Discussion Forum Index --> Tax Tips --> New Bank Product Prices that will change everything as we know it!
Dlilazteca (talk|edits) said: | 30 July 2007 |
| Ok Hi everyone
As we all know there will be an IRS convention in Las Vegas on the 21st. I've heard rumors that a certain company will be working with two major banks to be offering RAL's at a one time fee of 29.95 and 1%. So for example on a 3,000.00 dollar RAL the bank would chard 59.95. 29.95 flat fee and * 1% for a total of 59.95. Now if this is true it will be setting a whole new standard in 1040 filing for bank fees. It would pracitcally change the industry as we know it. I just wanted to know if anyone else has heard this. I got my information from a very realiable source. When this hits the fan dont say I did not try to warn you. We'll I guess we'll wait an see for the 21st of August 2007. | |
TheTinCook (talk|edits) said: | 7 August 2007 |
| The $29.95 fee is pretty standard. That's what HRBlock had in the 2007 season. The interest that was charged was much greater then 1%, we also charged a premium for IRALs and IMALs. | |
Bluebomber (talk|edits) said: | 15 August 2007 |
| Wow, this is pretty big. Where did you hear this from? I can't believe that the banks would give up that much revenue. Why would they change now? | |
| 9 November 2007 | |
| I'm not saying it can't happen, but it is highly unlikely that banks ever give up any money that can go in their safe. I'm interested in the changes, so keep us posted, .....and thanks for the info! | |
