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Published on E-File Magic (http://www.efilemagic.com)

What is a 'Recipient Bank' and why is it a good thing?

The first order you submit to us requires a minimum charge to be met. The minimum charge, allows you to submit up to 75 recipients. Because many of our customers are CPA's and other tax professionals, we provide you with a "Recipient Bank" in order to keep the cost associated with multiple company e-file submissions to a minimum. Here's how it works:

Many of our competitors charge you a 'Per File' charge, regardless of the quantity of recipients you submit in each file. In this case, the costs can quickly add up. If you're a CPA and are preparing to file for 10 different companies/filers and a total of 50 recipients, you might be charged the per file fee for EACH company/filer. If the per file charge was 75 dollars, filing would cost you $750.00 dollars! With E-File Magic, you'd only pay $68.75.

This is just one example of the many ways E-File Magic has designed it's software and services to support the diverse needs of our customers.


Source URL:
http://www.efilemagic.com/faq/what-recipient-bank-and-why-it-good-thing