Bank Products

RAL - Refund Anticipation Loan*

A Refund Anticipation Loan or RAL is a loan from the bank using the taxpayer's Federal Tax refund as collateral. After the IRS accepts the tax return and the taxpayer meets all of the pre-established criteria, River City Bank will loan on the taxpayer's anticipated refund along with a portion of their Earned Income Tax Credit (EITC). Once the loan is approved, you are paid a fee for the loan. Pricing is as follows:

RAL pricing is dependent upon refund amount:

$200 - $500

$36.00

$501 - $1,000

$52.00

$1,001 - $2,200

$83.00

$2,201 - $6,000

$100.00

$6,001 - $10,000

$135.00

ERC - Electronic Refund Check - Price: $26.00*

The Electronic Refund Check or ERC is a product that takes approximately two to three weeks depending upon the IRS. A client that does not want or does not qualify for a RAL would be accepted for an ERC. The fees for an ERC will be withheld and paid upon receipt of the IRS Federal Tax Refund.

SRET - State Refund Electronic Transfer - Price: $12.00*

The State Refund Electronic Transfer or SRET is the same as a federal RET except that we will not deduct any fees other than bank fees from the refund. The taxpayer must also be applying for a federal refund product before they can apply for a SRET.

RTL - Real Time Loan - Price: $75.00*

An RTL is a $1,000 loan from the bank, using the taxpayer's Federal Tax Return as collateral. It can be issued to the taxpayer within 5 minutes of filing. The rest of the taxpayer's return can come in the form of a bank product of their choice (RAL, ERC, RET).

DEBIT CARD - Price: $10

Customers who receive a RAL, RTL or ERC can opt to have their loan loaded onto a PIN-driven debit card. Their money will be deposited onto the card in lieu of receiving a paper check. They will be able to access their money from most ATM's or any point of sale that accepts PIN-driven cards. There will be bank fees deducted from the card as well as applicable ATM fees.

SERC - State Electronic Refund Check - Price: $12.00*

The State Electronic Refund Check or SERC is the same as a federal ERC except that we will not deduct any fees other than bank fees from the refund. The taxpayer must also be applying for a federal refund product before they can apply for a SERC.

RET - Refund Electronic Transfer - Price: $20.00*

The Refund Electronic Transfer or RET is the same as an ERC, the only difference being the refund is direct deposited into the taxpayer's personal bank account. The average turn-around time is approximately two to three weeks. When the bank receives the taxpayer's refund, we deduct the preparer fees along with the bank fees and then electronically deposit the remaining refund. This product is very popular for those who do not want to pay fees up front and for those who have their own bank account.