CHECK CASHING / FOREIGN CURRENCY EXCHANGE – MONEY SERVICE BUSINES BANKING DONE RIGHT!

NATIONAL CHECK AND CURRENCY provides multiple banking solutions for the money service businesses industry worldwide.  

Check Cashers and Foreign Currency Exchange companies are no longer restricted, limited or impeded by the banking policies of their local or institutional bank.  NATIONAL CHECK AND CURRENCY is solving the banking needs of Check Cashers and Foreign Currency Exchange companies, both foreign and domestic.  NATIONAL CHECK AND CURRENCY matches clients with one or more of NATIONAL CHECK AND CURRENCY’S Money Service Business “friendly” banking options.    

NATIONAL CHECK AND CURRENCY currently is affiliated with a portfolio of nine Money Service Business friendly institutions, accustomed to the special needs of both the Check Cashing and Foreign Currency Exchange industries. 

Check Cashers are able to affect a central operating account, titled in the client’s corporate name, by depositing instruments via remote deposit capture, ACH credit/debit or armored cash delivery/pick-ups.  A myriad of credit facilities are available for Money Service Business clients based on their need and specific requirements set forth by each institution. 

Foreign Currency Exchange clients execute secure transactions through the NATIONAL CHECK AND CURRENCY web site, receiving the corresponding amount paid in US dollars to either international or domestic accounts.  International armored cash pick-up/delivery notification and “day of receipt/delivery” verification of funds allows NATIONAL CHECK AND CURRENCY’S international clients to conduct business with confidence, safely and securely.

Foreign Currency Exchange clients are no longer bootstrapped by hostile banking relationships, extraordinary AML compliance fees and unreasonable collateral requirements.  Multiple banking relationships allow NATIONAL CHECK AND CURRENCY clients the ability to focus on their business without the worry of bank discontinuance.
NATIONAL CHECK AND CURRENCY mitigates the threat of bank discontinuance to the Money Service Business industry by eliminating single bank dependency by providing redundancy in banking relationships.

SUPERIOR SERVICE, BETTER COMPLIANCE, INCREASED CONTROL, GREATER PROFITS, IMPROVED EFFICIENCY

National Check and Currency provides Check Cashers and Foreign Currency Exchange companies full service banking privileges without extraordinary AML administration fees or collateral requirements.

BANK SERVICES

• Foreign Corporate Accounts Welcome
• Remote Deposit Capture Service
• No Limitation on Check Type And/Or Amounts
• International and Domestic Wire Transfers
• ACH Credits and Debits
• International / Domestic Armored Cash Transportation
• Day of Delivery” Credits / Debits on Armored Cash Transportation
• Virtual Vault Service
• Credit Facilities Available

EXPEDIANT CASH AVAILABLITY 

• Rotate capital at greater velocity
• reconcile throughout the day
• Reduce risk
• Mitigating lending lines costs
• Improve cash flow
• Improved customer service

BANK TERMINATION SOLVED

• Multiple banking partners
• Redundant banking relationships
• Bank discontinuance eliminated

INCREASE CLIENT BASE AND PROVIDING BETTER SERVICE

Check Cashers can increase profitability by accepting all types of items, regardless of amount or type.

IMPROVED CUSTOMER SERVICE 

• Control your business policies, item limits, and markets
• Improved client relations
• Eliminate borders and boundaries associated with institutional banking
• Dishonored Item notification usually within 24 hours
• On line electronic re-presentment

ADD REVENUE TO YOUR BOTTOM LINE

• Accept check items without limitation amount and/or type
• Increased revenue potential
• Deposit 24/7/365 year
• Mitigate the costs associated with uncollected lending lines

INCREASED TRANSPARENCY AND AML/BSA, PARTIOT ACT COMPLIANCE 

MORE COMPLIANT TRANSACTIONS

• OFAC verification on maker and payee item information
• Retroactive client transaction history
• Reference retained identification provides more transparent compliance
• Seven year image archive
• Centrally control check limits, amounts or types
• Fraud detection, OFAC watch list matching, AML/BSA Patriot Act compliance
• Increased detection of structuring, smurfing, suspicious activities, transaction aggregation

MITIGATE OR ELIMINATE CASH TRANSPORTATION 

• Mitigate or costs associated with armored cash transportation and vaulting services
• International / domestic Virtual Vault Service available
• Same day posting for cash pick-up/deliveries 
  

MITIGATE RISK

• Recover check transaction proceeds more expeditiously
• Centralized management of rights provides greater teller/location control

REDUCE LIABILITY

• Electronic transmission replaces trips to banking institution
• Deposit 24/7/365

CATASTROPHE STRATEGY FOR YOUR AGENTS