MONEY TRANSMITTER FRIENDLY BANKING - MSB BANKING THE WAY IT SHOULD BE!

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

Money transmitting companies and their agents are no longer restricted by geographical limitations or relegated by the banking policies of their local or institutional bank.  NATIONAL CHECK AND CURRENCY is solving the banking needs of Money Transmitters both foreign and domestic by matching Money Transmitters with better Money Service Business “friendly” banking opportunities.  NATIONAL CHECK AND CURRENCY currently manages a portfolio of nine MSB friendly institutions accustomed and willing to provide banking service to the money transmitter industries.  Remittance agents effect payments to their Money Transmitter provider’s central operating account by depositing instruments via remote deposit capture, ACH debit or armored cash pick-up.

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

NATIONAL CHECK AND CURRENCY provides Money Transmitters full service banking without extraordinary compliance administration fees or collateral requirements

BANKING SERVICES

• Foreign Corporate Accounts
• Remote Deposit Capture Service
• International and Domestic Wire Transfers
• ACH Credits and Debits
• Armored Cash Transportation
• Virtual Vault Service
• Credit Facilities

RECONCILE RECEIVABLES FASTER 
 

• Agents reconcile receivables throughout the day
• Reduce risk
• Mitigating lending lines costs
• Increase cash flow
• Improve customer service

BANK TERMINATION SOLVED

• Multiple Money Transmitter friendly banking partners
• Redundant banking relationships
• Bank discontinuance solved

INCREASE AGENT BASE AND PROVIDING MORE FLEXIBLE PAYMENT OPTIONS

Money Transmitters can expand their agent base by providing faster, more flexible, account reconciliation options

INCREASE AGENT COMMUNITY 

• Control policies, agent limits, and markets
• Improved agent relations
• Eliminate borders and boundaries associated with institutional banking
• Accelerate reconciliation with increased payment options for your agent community

ADD REVENUE TO YOUR BOTTOM LINE

• Accept check items for remittance without limitation amount and/or type
• Increased revenue potential
• Receive payments 24/7/365
• Mitigate lending lines and costs associated

END-TO-END AUDIT TRAIL FOR IMPROVED REMITTER TRANSPARENCY AND COMPLIANCE 

NATIONAL CHECK AND CURRENCY facilitates superior compliance, control and increased profitability

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
• National Virtual Vault Service available
• Same day posting for cash pick-up/deliveries 

MITIGATE AGENT CREDIT RISK

• Recover transaction proceeds more expeditiously
• Reduced exposure of extraordinary credit extensions to high volume agents

REDUCE AGENT LIABILITY

• Electronic transmission replaces transporting large sums of cash to their banking institution
• Agents can reconcile remittance activity 24/7/365

CATASTROPHE STRATEGY FOR YOUR AGENTS 

• Agents deliver check data anytime throughout the day enabling agents in disaster scenarios such as hurricanes, to reconcile daily agent transactions without interruption or restriction by local banking hours of operation.