DALLAS -- 7-Eleven Inc. is again allowing H&R Block clients to cash their refund anticipation loan checks via the retailer's Vcom financial services kiosks, available 24 hours a day, seven days a week.
The expedited process enables the tax preparer's clients to cash loan checks up to $6,000, usually in less than five minutes. More than 2,100 H&R Block offices are located near 7-Eleven Vcom kiosks.
Many Americans count on immediate access to the money from their refund anticipation loans, said Rick Updyke, vice president [image-nocss] of corporate business development for 7-Eleven, Dallas. H&R Block served 15.7 million clients in its retail offices in 2006, and 7-Eleven can offer them round-the-clock check-cashing services at a reasonable fee.
Based on recent 7-Eleven market surveys, 7-Eleven check-cashing fees for H&R Block clients with refund anticipation loan checks are typically more than 20% below those charged by traditional check-cashing outlets. As a result, consumers get to keep more money in their pocket, an added benefit 7-Eleven can provide, Updyke said.
The interactive, self-service Vcom machines allow customers to cash payroll, refund anticipation loan checks, tax refund and government checks, as well as conduct ATM, money order, bill payment and money-transfer transactions. The kiosks offer bilingual, touchscreen menus and multi-lingual, 24-hour customer service from a phone attached to the kiosk.
The check-cashing program is available at 1,600 participating 7-Eleven stores equipped with Vcom kiosks in the states of Arizona, California, Colorado, Florida, Washington and Oregon, as well as stores in Virginia, Pennsylvania, Texas and Utah. 7-Eleven is the exclusive convenience store outlet to provide this check-cashing service for H&R Block clients.
Some 22 million American households don't have checking accounts, said Tim Gokey, president of retail tax services for H&R Block. When it comes to cashing a check, they need to have choices to select a service that is trustworthy, convenient and offers a fair and competitive price. 7-Eleven offers all of that, helping our clients get money in a timely manner and keep as much of it as possible.
At the 7-Eleven Vcom kiosk, H&R Block clients will be directed through a short series of touchscreen prompts to complete their quick check-cashing transaction. After selecting Check-Cashing from the main menu, the customer will select the H&R Block option and enter key information into the secure Vcom electronic form. The customer will receive cash for the face amount of the check minus a check-cashing fee.
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