Why banks add check cashing
- Open a new ENTRY POINT for Un-Banked
- Check cashing is their FIRST buy on payday
- Migration Path for New Deposit Customers
- Establish trust and relationship through check cashing
- Offer deposit customers “no risk immediate credit” option
- Add New Non-Interest Income source
- Gain CRA Credits by serving the Under-Banked
- Regulators are pressuring you to go down market
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