CHICAGO, March 2, 2020 /PRNewswire/ -- PLS Check Cashers of New York, Inc., announced today that it has lowered its check cashing rates in New York for payroll and recurring government checks to 1.99% - over 10% less than the regulated rate. The New York Department of Financial Services sets the regulated rate for check cashing, which is currently 2.23%. As always, purchasing PLS money orders remains absolutely free of charge 24/7.
During his State of the State Address, Governor Andrew M. Cuomo proposed expanding access to safe and affordable financial services – indicating that too few quality financial services options exist for the communities that need them the most.
The PLS Group of companies, a national leader in consumer financial services, is known for its low rates for check cashing across the country and has historically offered some of the lowest check cashing rates in traditionally underserved markets. "Now, as of March 2020, the PLS team is excited to offer our customers lower rates in New York – allowing residents who use check cashing services to keep more of their hard-earned dollars," Jill Ritchie Director of Public Affairs.
"This is a significant win for the people of New York. At PLS, we believe everyone deserves better, especially quality financial services at affordable prices," said Albania Almonte, New York Director of Operations. "At PLS, we're focused on putting people first and committed to reshaping the potential of the alternative financial services industry. Our customers deserve better and that is why we decided to offer our services at more than 10% below New York's regulated rate."
Customers can take advantage of PLS's new lower rates by visiting any of PLS's 39 New York locations.
PLS®, headquartered in Chicago, operates over 230 community financial services centers in markets that span from California to New York. PLS believes customers deserve better than the existing services available in the marketplace to meet their critical financial needs. PLS financial service centers offer free money orders, check cashing, Xpectations!® Visa® prepaid cards, money transfer services, direct deposit services and bill payments. PLS hires its almost 4,000 team members from the neighborhoods they serve. PLS Check Cashers of New York, Inc. is licensed by the Superintendent of Financial Services pursuant to Article 9-A of the Banking Law.
Visit www.pls247.com for additional information on products and services.
SOURCE PLS Financial Services