H&R Block Virtual Bank Account?

According to Crowdfund Insider, H&R Block is now reportedly planning to offer a virtual bank account to tax preparation customers beginning in tax filing season 2022. 

In December 2020, H&R Block-branded accounts at Axos Bank® were moved to MetaBank®, N.A. This move did not affect the servicing of accounts by Emerald Financial Services (a wholly-owned indirect subsidiary of H&R Block, Inc), but the strategic partnership may be expanding the suite of H&R Block's financial services. Current financial services have focused on providing customers a vehicle to receive and use their tax refunds. The addition of a virtual bank account will engage H&R Block's client base on a more regular basis. 

Although the offering has not been detailed, CEO Jeff Jones stated in an interview with American Banker that the service will be low fee, high-featured, and an effort to use the tax refund as the event to open and fund the virtual account. In addition, the company intends to focus on current clients, who are typically moderate income individuals who may not have access to banking partners.

At this time, it does not appear as if virtual banking is on the near horizon for business bookkeeping customers, either through partnering with an H&R bookkeeping professional or through H&R Block Wave, the company's DIY solution for self-employed and small businesses.