Tax Refunds via Plastic
Jennifer Bayot writes in the New York Times about tax refunds being loaded on to stored value cards.
Many prepaid cards have routing numbers, just as checking accounts do. To send a payment to the card, a cardholder just provides the routing number. To the government or to an employer, making a direct deposit to the card is often indistinguishable from an electronic transfer to a checking account. As a result, many prepaid cards are already coded to receive tax refunds.
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