DIFS Reminds Consumers During Tax Season of Low-Cost Accounts Available to Quickly, Securely Get Refunds

The Michigan Department of Insurance and Financial Services (DIFS) is reminding consumers during tax season that the fastest and most secure way to receive a tax refund is through a direct deposit to an account with a bank or credit union, and low- or no-cost accounts are available at nearly 30 banks and credit unions across Michigan through the Michigan Open Account Coalition (MOAC). 

The MOAC is a partnership between DIFS, the Michigan Bankers Association, the Michigan Credit Union League, and community organizations to encourage relationships between financial institutions and historically underserved communities; to educate consumers about the importance of having a relationship with a financial institution; and to ensure that consumers have access to low- and no-cost accounts.

To learn more about MOAC, visit Michigan.gov/DIFSOpenAccount. For more information or if you have questions or concerns about a financial institution, call DIFS Monday through Friday 8 a.m. to 5 p.m. at (877) 999-6442 or visit Michigan.gov/DIFScomplaints to file a complaint.