At National Check and Currency, we offer a complete package of MSB solutions for your money service business. We know that it takes much more than a bank account to keep a money service business up and running. Each of our MSB solutions is designed to support your bank continuity through increased efficiency, compliance, and fast rotation of working capital. As a result, you no longer have to scour the internet for MSB friendly banks or scrap together a program for yourself. Together with our banking partners and vendors, we do the work for you to offer you a “one stop shop” for MSB banking, compliance, and supported services.
National Check and Currency employs a comprehensive set of compliance solutions. Each of the key components works together to communicate data to your bank, record transactions, and keep you up and running. Specifically, our Point of Sale (POS) devices capture Know Your Customer (KYC) compliant data on your clients and make MSB compliance a breeze. Our POS technology seamlessly integrates with your existing equipment for a robust compliance experience.
In addition to compliance, National Check and Currency provides technology and systems to increase your efficiency as a business. Remote Deposit Capture (RDC) gives you the ability to scan customer checks in batches, and then send them automatically to your financial institution. Our banking partners offer same day cash advance services to keep you liquid during peak business hours. You can choose between armored cash delivery or wire transfer to your financial institution. NCC provides same day cash advance so that you can use same day funds that have been sent to the Federal Reserve Bank for settlement. Both RDC and same day cash advance help your business run smoothly.
Each of our MSB friendly banks provides International and domestic wire transfer services, meaning you can send and receive wires. MSB Solutions, like wire transfer, help you stay competitive in the marketplace, increase your profit, and eliminate operational bottlenecks. We also offer Automated Clearing House (ACH) funds transfer, which allows you to settle transactions within 48 – 72 hours. ACH gives you the option to clear funds quickly when your business is in urgent need of cash. Finally, your weekend deposit are available by 9:00am EST each Monday morning. Each of these MSB solutions for banking work together to bring you a beneficial and reliable banking relationship.
Mark Ochab, our Director of Banking, brings Federal Agent experience to our MSB compliance efforts. His extensive experience fighting financial crime, including money laundering, on behalf of the United States Department of Homeland Security attracts financial partners to NCC, and directly benefits our clients. With Mark at the helm, we continue to develop even more MSB solutions and banking partnerships to help our clients grow and thrive in the money service business industry.
We work with a domestic and International network of armored cash transportation companies to make “Day of Delivery” credits and debits possible. Our MSB banking solutions help your money service business avoid “day of order” bank fees. MSB solutions like these differentiate National Check and Currency from the traditional banking model, which is focused on holding your funds for as long as possible. On the contrary, all of our MSB solutions are centered around one goal: improving the acceleration of our clients’ working capital to their Merchant Account. We want to help you reduce or eliminate your need for lines of credit and uncollected interest charges.