MIAMI, Sept. 29, 2017 /PRNewswire/ -- NCC has launched the first nationwide cash logistics pick-up and delivery service for the check cashing and money transmitting industries. The new service eliminates any geographic boundaries associated with the service footprint of a financial institution or its contracted cash logistics courier.
NCC's innovative cash logistics solution for MSBs is made possible through a partnership with TransGuardian and Rapid Armored. TransGuardian develops software and services for managing insured parcel shipping of collectibles, fine art, jewelry, gems, firearms, and other high-value and highly regulated items. The partnership provides a reliable method to insure, track, and transport cash to and from any MSB location nationwide.
Money service businesses are suffering from bank discontinuance at an alarming rate due to wholesale de-risking by the financial community. NCC's new partnership provides a "bank agnostic" solution for check cashing businesses, money transmitter companies, and their agents. They can now securely transport cash to or from the business, bank vault, or a parent organization's regional or central location for credit into the business's operating account.
TransGuardian is a Business Alliance Partner of the United States Postal Service and maintains a marine cargo insurance policy underwritten at Lloyd's of London, covering up to $150,000 per parcel worldwide. TransGuardian's RADAR tracking module enables uniquely pro-active tracking and tracing through the mailstream. The USPS can pick up from and deliver to any location within the U.S. or its territories.
Rapid Armored is a fully insured and licensed Armored Car Carrier operating in compliance with the United States Department of Transportation and the New York State Department of State. Rapid Armored offers a wide variety of currency services, including cash transportation and money transmitting.
NCC's partnership with TransGuardian and Rapid Armored is forging a new path for cash logistics in the check cashing and money service business industries.
National Check & Currency was established in 2007 in response to accelerated MSB bank discontinuance due to wholesale de-risking by the major financial institutions. NCC has evolved into a compliance-centric financial services company with state-of-the-art software technologies, extraordinary AML/BSA compliance, and stellar customer service. NCC safeguards affiliated financial institutions and MSB customers through a proactive approach to risk monitoring and robust compliance requirements.
SOURCE National Check and Currency