Check Cashing

check cashing

Paycheck Secure is the nation’s leading biometric check cashing solution. The Paycheck Secure system eliminates check fraud and speeds up check cashing transactions by using the latest in biometric fingerprint technology.

Key Benefits

  • Mitigate Check Fraud

  • Access to National Negative Database

  • 24/7 Online reporting

  • Automatic Database Backup

  • Counterfeit Check Warnings

  • Velocity Settings

  • Electronically Deposit Checks to your Bank

  • Easily Comply with Government Regulations

check into cash

With a proven record of preventing losses, our check cashing product offers retailers and banks full MSB compliance features as well as embedded Check 21 processing. Paycheck secure is in over 2,500 retail locations nationwide, has over 8 million enrolled customers and has processed over 105 million biometric financial transactions.

Software FeaturesAdditional Features

National Negative Database.

Automatically verifies each transaction against our national database of bad check writers. With Paycheck Secure, you’ll have access to the negative data for over 8 million consumers in the Paycheck Secure network. If the customer has passed a bad check at your store — or in any of the 2,500 locations in the Paycheck Secure network — the system will notify you before any money changes hands.

24/7 Online Reporting.

Manage all transaction data whenever, wherever you want. Paycheck Secure offers the ability to view the information you need on the web, including system totals, customer information, transaction information and maker information.

Database Backup.

Never lose your customer or transaction data with our automatic sync-to-server feature. All your valuable check cashing data is backed up automatically. No need to worry about backup tapes, Zip disks, or CD-ROMs.

Returned Check Report.

View a returned check report with complete transaction history. Use Paycheck Secure’s returned check reports to recover bad checks. You’ll have the customer’s photo, fingerprints, contact information, photo ID, and full check cashing history right at your fingertips.

Counterfeit Check Warning.

The system analyzes the magnetic ink and flags checks with low MICR levels for possible fraud.

Velocity Settings.

Enforce your store’s check cashing policies automatically – you set the limits. Set your own rules for fees, velocity, overrides and more.

Maker Research (Account Lookup).

This service combines the nationwide Paycheck Secure network with multiple third-party databases to verify information on the maker (or check issuer) before you cash the check. Third-party databases look for any negative information reported on a particular maker (invalid account, NSF, account status, etc). The Paycheck Secure software analyzes maker history within the entire network (currently over 2,500 locations), for any negative information, including outstanding returns or bad account history. Based on the returned data, Paycheck Secure will provide you with a recommendation to Accept, Accept with Warning, or Decline the check.

Compliance (OFAC, CTR and SAR Reporting).

Automatically checks OFAC list. As part of the Patriot Act, money service businesses are now required to report transactions by the Office of Foreign Assets Control (OFAC)’s list of Specially Designated Nationals (SDNs). Our Government Compliance Package makes it easy by automatically checking this list for you. Electronically submit Currency Transactions Reports (CTRs) and Suspicious Activity Reports (SARs) directly to the federal government. Automatically receive email alerts when CTRs need to be filed. We protect your data for 5 years. All electronic reports filed with the Government Compliance Package are archived in the Paycheck Secure system for auditing purposes for five years.

Review Center.

Review Center provides you with expert recommendations on checks without you having to make phone calls to investigate. Customizable risk triggers automatically initiate Review Center requests when checks cannot be instantly approved. Transactions are cross referenced for negative information across multiple networks and trained check cashing experts stand by ready to complete the transaction review process in real-time. Typically, the entire process can be completed while the customer waits.

Check21 (Electronic Deposits).

Enjoy significant time savings; more secure transactions and faster access to funds. With direct to bank integrations and processor relationships, deposit money directly to hundreds of banks.

Retail Connect (Point of Sale).

Manage all your Financial Services through one platform! Add new services without adding new hardware. Access all your financial services from a single system. With one click you can launch any number of applications; including Paycheck Secure. Integrate your preferred providers of Bill Pay, Money Transfer, International Calling, Money Orders, Prepaid Debit, Lending and more.

 

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