| WASHINGTON - The U.S. Treasury said on Thursday it is launching a pilot program to deliver income tax refunds on debit cards for low- and moderate-income people who do not have traditional bank accounts. The Visa prepaid debit cards are designed to allow these taxpayers to receive their refunds much faster than with a paper check and avoid high fees for cashing those checks at currency exchanges or payday loan stores. "This pilot program will provide low- and moderate-income Americans with a low-cost option for faster delivery of their federal tax refund," said Deputy Treasury Secretary Neal Wolin. The card can be used in everyday financial transactions, such as receiving wages by direct deposit, withdrawing cash, making purchases, paying bills and building up savings... read more» |
