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Tax-preparation giant H&R Block Inc.'s prepaid card portfolio will reach 3 million cards during the upcoming tax season, predicts Russ Smyth, president and CEO of the Kansas City, Mo.-based company. During the 2008 tax season, H&R Block Bank issued 2.6 million Emerald Prepaid MasterCards, Elizabeth McKinley, an H&R Block spokesperson, tells ATM&Debit News, a CardLine sister publication. H&R Block has issued the Emerald Prepaid MasterCard since late 2006. The company enables customers to load their tax refunds into the card accounts. The card also plays a key role in helping H&R Block develop long-term relationships with clients because they can load their payroll checks and money orders into the card accounts, avoiding check-cashing services the company says cost consumers more to use. H&R Block does not charge transaction fees for card use, but it does impose some charges, including fees for ATM withdrawals and balance inquiries. The company operates 13,038 offices nationwide.
