H&R Block Bank Rates & Review

H&R Block Bank Review

H&R Block Bank is primarily an online bank. It provides checking, savings and loans for the customers and associates of H&R Block tax preparation company.

H&R Block Bank provides banking products and services to customers and associates of the well-known tax preparation company of the same name. Their Kansas City, Missouri headquarters is their only physical location.

Savings account options

An H&R Block Bank savings account can be opened with as little as $25 for a Block Savings account or Block Money Market account. It only takes $10 for a child savings account. The money market account is a tiered interest account. There are also business money market accounts available. Long-term savings account options with this bank include IRA and CD options ranging from 30 days to 5 years.

Online savings account deposits can be made via direct deposit, mail, wire transfer or ACH transfer from another bank or online/phone/ATM transfer from another H&R Block account. Withdrawals can be made via ATM, check request or wire request. The bank is FDIC insured for all deposit accounts and IRAs. They received a 2009 FDIC Alliance Award for serving unbanked and underserved communities.

Checking account options

The sole checking account option is a tiered interest checking account. Interest rates go up as balances go up with increases at $500, $5000, $10,000, $25,000 and $50,000. The interest accrues daily and is credited to the account monthly. The minimum opening deposit is only $25.

Debit Mastercard

Customers can apply for the H&R Block Bank Emerald Card. Customers receiving a tax refund can load the refund directly onto the card and then use this card like a prepaid credit card or debit card. It is a no-interest debit card that is FDIC insured.

Loans with H&R Block Bank

This bank offers fixed rate and adjustable rate mortgages as well as home equity loans. Consumer loans include personal loans, lines of credit and CD loans.