SC Department of Revenue to stop issuing prepaid debit cards for tax refunds

COLUMBIA, S.C. (WCBD) – The South Carolina Department of Revenue (SCDOR) said Thursday it will no longer issue prepaid debit cards for Individual Tax refunds after June 29.

The decision comes after Bank of America announced a decision to phase out its prepaid debit card program early next year. Bank of America is SCDOR’s prepaid debit card provider.

Those with an active prepaid debit card with a balance are encouraged to spend that money before Bank of America deactivates the SCDOR-issued card, which is expected to begin early next year on a rolling basis.

Cardholders will likely receive a notice about the deactivation of their SC Individual Income Tax Refund Prepaid Debit Card in November of this year.

You can also take those cards to a Bank of America branch, or one of its many local ATMs, to withdraw the remaining funds free of charge.

SCDOR officials said that most South Carolina taxpayers choose to receive their refunds as direct deposit or by paper checks.

“Direct deposit remains the SCDOR’s recommended refund option. It’s the fastest, easiest, most secure way to receive your refund, since your refund is deposited directly in your bank account, and you don’t have to wait on mail processing,” the agency said.

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