Tax Time Account Direct Mail Pilot Evaluation

42 Pages Posted: 24 Jan 2013

See all articles by Caroline E. Ratcliffe

Caroline E. Ratcliffe

The Urban Institute - Labor and Social Policy Center

Signe-Mary McKernan

The Urban Institute - Center on Labor, Human Services and Population

Date Written: September 5, 2012

Abstract

Millions of U.S. adults are unbanked and lack access to safe financial accounts. The MyAccountCard pilot program offered low-income adults a prepaid card account that could be used for electronic delivery of their tax refunds and everyday financial transactions. Key findings from the evaluation, designed to test different account features, include (1) the card account appealed most to its target population: likely unbanked individuals were three times more likely to take-up the card; (2) individuals are price sensitive: charging a monthly fee decreased card take-up by roughly 40 percent; and (3) the savings account as designed in this pilot was not perceived as valuable.

Keywords: Economy/Taxes, Poverty Assets and Safety Net

Suggested Citation

Ratcliffe, Caroline E. and McKernan, Signe-Mary, Tax Time Account Direct Mail Pilot Evaluation (September 5, 2012). Available at SSRN: https://ssrn.com/abstract=2205681 or http://dx.doi.org/10.2139/ssrn.2205681

Caroline E. Ratcliffe

The Urban Institute - Labor and Social Policy Center ( email )

2100 M Street, NW
Washington, DC 20037
United States
202-261-5548 (Phone)
202-463-8522 (Fax)

Signe-Mary McKernan (Contact Author)

The Urban Institute - Center on Labor, Human Services and Population ( email )

United States

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