DALLAS -- 7-Eleven and H&R Block have signed a three-year agreement whereby H&R Block clients can go to any 7-Eleven store with a Vcom kiosk to cash their refund anticipation loan checks.
The expedited process at the 7-Eleven stores enables the tax preparer's clients to cash loan checks up to $9,999 based upon the amount of individual's anticipated refund loan, usually in less than two minutes.
More than 1,400 H&R Block offices are participating in the program, and clients can cash their refund loan checks at any 7[image-nocss] -Eleven Vcom kiosk day or night.
"H&R Block served 16 million clients in its retail offices in 2005," said Rick Updyke, vice president of corporate business development for 7-Eleven, "and many want immediate access to money for a reasonable fee without limitations on cashing their refund loan checks. 7-Eleven has removed these obstacles with 24-hour check-cashing, convenient locations and low check-cashing fees. Based on recent 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.
Vcoms are proprietary financial services kiosks located in more than 1,100 7-Eleven stores. Available 24 hours a day, seven days a week, the interactive, self-service machines allow customers to cash payroll, refund anticipation loan checks, tax refund checks and government checks, as well as conduct ATM, money order, bill payment and money transfer transactions. The kiosks offer bilingual, touchscreen menus and multilingual, 24-hour customer service from a phone at the kiosk.
The program is available at participating 7-Eleven stores equipped with Vcom kiosks Arizona, California, Colorado, Florida, Oregon and Washington, as well as stores in eastern Pennsylvania, Washington, D.C., Virginia, Texas and Utah.
7-Eleven is the exclusive convenience store outlet to provide this check-cashing service for H&R Block clients.
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.
H&R Block associates will share information about the 7-Eleven Vcom refund anticipation loan check-cashing service with their clients, and signs and printed information will be displayed and distributed at participating H&R Block tax offices. Window banners, Vcom kiosk signs and light pole signs are posted at participating 7-Eleven stores to alert customers that the Vcom tax check-cashing service is available.
"Nearly 22.2 million households in America don't have checking accounts," said Tim Gokey, president of U.S. tax for H&R Block, Kansas City, Mo. "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 is one of several convenient, low-cost refund loan check-cashing options we're providing our clients this year to help them keep as much money as possible."
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