Q: What is the Western Union MoneyWise™ Prepaid MasterCard®?
A: It is a personalized, reloadable, prepaid debit card you can choose to receive your tax refund on. It works like any other debit card and can be used anywhere MasterCard debit cards are accepted, including online and at ATMs.

Q: How soon will I receive the card?
A: The card will arrive at your home address within 7 to 10 days. If more than 10 days has passed, please call 1.866.953.6411. Remember, this means 7 to 10 days from the day your tax preparer files your return, which may not be the same day you give him or her your tax records.

Q: Can I use the card right away?
A: Maybe. The IRS will deposit your tax refund to the card as quickly as it would make a direct deposit to your bank account. This could be as little as 8 days, but it depends on the date your return is sent to the IRS. (For more info about the weekly IRS cutoff, click here.)

Q: How can I find out if the IRS has deposited my refund to the card?
A: Visit www.moneywisetaxrefund.com or call 1.800.829.1954. You can also sign up for free balance and transaction alerts via text message. ("Free" means Western Union does not charge to send you the text messages. Your cellular provider may charge to receive them.)

Q: For a joint tax return, can we get two cards and have the refund split between them?
A: Yes and no. Western Union will issue a single card in the name of the primary taxpayer. After you receive it, you can contact Western Union and ask for a companion card ($5.00 fee) for the second taxpayer. But the refund is not split into two separate accounts—each card has full access to the entire balance.

Q: Can I get the card the same day I file my return?
A: No. It must be mailed to you.

Q: Can I have the card mailed to another address, or to a post office box, or to Hamilton Tax Services?
A: No. The card must be mailed to the address shown on your tax return, and it must be in the domestic U.S. This is required by federal banking laws.

Q: Can I receive my state refund on the same card?
A: Yes. Most states allow you to have your state tax refund deposited to the same account as your federal refund. However, if you are receiving only a state refund and not a federal refund, you cannot use this card.

Q: Is this program available for taxpayers who have ITINs (Individual Tax Identification Numbers) but not Social Security numbers?
A: Yes.

Q: Do I need to submit a credit application to get this card?
A: No. It is not a credit card and not a loan. No one will check your credit history. However, banking regulations require Western Union to verify all customers' identities by comparing their names and addresses against public databases. If Western Union cannot verify your SSN/ITIN, date of birth, and address, it could delay the issuance of the card.

Q: I already have a Western Union debit card. Can I have my tax refund deposited to that card?
A: Not this year. Since this is the first year for the program, you'll need to use the new card.

Q: Is there a fee to get the MoneyWise card?
A: No. There is no fee for the card, no enrollment fee, no activation fee, and no fee to have your refund added.

Q: Does the IRS charge a fee to deposit my refund to this card?
A: No.

Q: Does Hamilton Tax Services charge any fee related to this card?
A: No.

Q: Is there a fee for each transaction when I use it?
A: Not for purchases. There are fees for ATM transactions:
  • ATM withdrawal ($1.95, plus ATM operator fees)
  • ATM balance inquiry or decline fee ($0.45)

There may be a foreign currency conversion fee if you use the card outside the U.S.

Q: Is there an overdraft or overlimit fee?
A: No. You cannot spend more than the available balance.

Q: Is there a monthly maintenance fee?
A: Not if you use the card at least once every 12 months or spend the entire balance down to zero. If the card is not used for 12 consecutive months and has a balance greater than zero, there will be a monthly inactivity fee of $2.50 per month beginning in month 13.

Q: Are there any other possible fees?
A: There is a $5.00 fee to replace a lost or stolen card, or to issue a companion card.

Q: If I spend all of this year's tax refund but keep the card to use again next year, is there a fee?
A: If the card balance is zero, there is no maintenance or inactivity fee, and no fee to reuse the card next year.

Q: What is the maximum amount that can be loaded to a card?
A: Any tax refund, no matter how large, will be accepted.

Q: Are there any spending limits?
A: Not for purchases. You can spend the entire balance at any time, anywhere MasterCard is accepted. (But see below about gasoline and certain other purchases.)

Q: Can I spend more than the current balance?
A: No. This is not a credit card. A purchase for more than the current balance will be declined.

Q: What about ATM withdrawals?
A: Cash withdrawals are limited to $500 per day (or your current balance, if less). At an ATM, choose "checking" when prompted. Please note Western Union charges $1.95 per transaction in addition to any fee charged by the ATM operator. ATM balance inquiries or rejections are $0.45.

Q: What is a pre-authorization?
A: A pre-authorization is when a merchant places a hold on funds on the card to ensure full payment. For example, a restaurant may pre-authorize a set amount when they open a tab using the card. If the final bill is less than the pre-authorized amount, the remaining funds will be released, but there may be a delay of 3-7 business days depending on the merchant.

Q: Can the card be used to pay for gasoline at the pump?
A: Yes. The card is pre-authorized for $75 at the pump. If your current available balance is less than $75, the transaction will be declined. If your final purchase is less than $75, it may take some time (typically 24-48 hours) for the remainder of that $75 to become available again. However, if you pay for your gasoline purchase at the register instead of the pump, you can avoid this delay.

Q: Should I choose debit or credit when paying for purchases?
A: You may choose either, but you can avoid entering your PIN number if you choose credit. (This is usually done by pressing the "cancel" or "credit" button after swiping your card.) Typically, this will require you to sign for the purchase, but some merchants do not require signatures for small purchases. Selecting "credit" does not convert the card into a credit card—you still cannot spend more than the available balance.

Q: Can I transfer money from the card to a bank account?
A: No.

Q: Is the money on the card FDIC Insured?
A: Yes.

Q: What if the card is lost or stolen?
A: The funds are protected by MasterCard’s Zero Liability policy. Call 1.866.953.6411 if the card has been lost or stolen. There will be a $5.00 fee to reissue a card.

Q: What is my PIN number? Can I change it?
A: You'll be able to choose a PIN when you call Western Union to activate your card. You can change the PIN later by calling the number on the back of the card.

Q: After I spend my tax refund, can I add more money to the card?
A: Yes. There are 4 ways to add money:

1. Add cash at a participating Western Union Agent ($4.95 fee). Find a local agent at westernunion.com. You can add up to $1,000 per day.

2. Receive a Western Union Money Transfer® transaction onto your card (free). If someone sends you a Western Union Money Transfer, you can have it loaded directly onto the card. Call the phone number on the back of the card and follow the instructions. You'll need the Money Transfer Control Number (MTCN) from the sender. Note the other person must pay a fee to send you money.

3. Transfer money from a bank account (free). Go to the website on the back of the card and follow the instructions.

4. Payroll or government benefits direct deposit (free). You can have some or all of your paycheck or other benefits deposited to the card. Visit westernunion.com/mymoneywise for the direct deposit form. Give the completed form to your employer or benefits payment office.

Please note that in all cases, there may be per-transaction and card balance limits. Ask Western Union for more details.

Q: I thought Hamilton was opposed to "value added" products. Why the change of heart?
A: It's not a change of heart. We remain opposed to so-called "value added" products that cost more than they're worth—like Refund Anticipation Loans. (Of course, value is a matter of opinion, and other tax preparers may disagree—especially those who profit by selling you such products.) The Western Union card is different, because the cost is zero as long as you follow a few simple guidelines.

We were skeptical when we heard of this new program, but we've looked into it and concluded it's fair. It's a particularly good deal for taxpayers who can't use regular direct deposit because they don't have a bank account.

Q: Is there a downside to choosing this card?
A: Maybe. You lose some flexibility in how you can spend your tax refund. You can use it for new purchases and to get cash at ATMs (for a fee). You can't use it to pay the rent (unless your landlord takes plastic) or last month's credit card bill.

Q: How can Western Union offer this for free?
A: We can't speak for Western Union, but consider this: The average taxpayer receives a pretty substantial refund on their federal tax return, and is unlikely to spend it all in one place when it's on a debit card. That gives Western Union the use of your money for some period of time without paying interest. Western Union has probably concluded that in the aggregate, they can earn a greater return on that money before you spend it than it costs to run the program.

Q: Does Hamilton receive a commission or other compensation for getting clients to use this card?
A: No, but if we're lucky we'll win $100 in one of Western Union's weekly random drawings. And, of course, we hope we'll get more clients by offering this as a refund payment option.