LOS ANGELES, April 17, 2017 /PRNewswire/ -- National Check and Currency (NCC) now offers cash vaulting and banking services for check cashers (MSBs) operating in the greater Los Angeles area. NCC's network of cash vaults enables Los Angeles check cashers to receive daily armored cash delivery.
With this expansion, NCC now provides cash logistics in America's three largest check cashing markets: Southern California, the Tri-State area (NY, NJ and CT), and Southern Florida, in addition to coverage in other key markets across the country.
Check cashers often wait three business days or longer to access deposited items. NCC's nationwide cash vaulting capabilities enable their clients to rotate funds more efficiently by providing check cashers the ability to order and receive "next day" cash in their local markets.
Steve Bessen, NCC's Director of Sales, explains, "The MSB banking environment in Los Angeles has been dramatically disrupted over the past year due to bank mergers and the continuation of MSB "de-risking" by the banking industry. NCC is pleased to now provide comprehensive MSB banking services, including armored cash delivery, to the greater Los Angeles area. This ultimately helps provide access to vital financial services in the communities serviced by our clients."
Cash vault service is just one component of NCC's approach to serving the money service business industry. NCC provides direct banking relationships through their partnership network of MSB-friendly financial institutions with coverage across the United States. NCC's redundancy in banking relationships protects check cashers from the threat of bank discontinuance.
NCC's MSB clients receive:
- "Next Day" availability of funds
- No limits placed on amount or type of items deposited
- Weekend deposits available Monday morning
- No long term collateral requirements or Certificates of Deposit
- Dishonored Items returned electronically
- Redundant MSB banking partners
About National Check and Currency
NCC was established in 2007 in response to the acceleration of MSB bank discontinuance due to wholesale de-risking by major financial institutions. NCC has evolved into a compliance-centric financial services company leveraging state-of-the-art software technologies, extraordinary AML/BSA compliance, and stellar customer service. The focus of NCC is to safeguard affiliated financial institutions and MSB customers through a proactive approach to risk monitoring and robust compliance requirements.
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SOURCE National Check and Currency