Video courtesy of SAMCO.
Without going into why nearly 70 million working Americans have no or limited bank access, each week across the country, individuals search for places to cash their paychecks. Today the alternative financial services (AFS) industry is a $6 billion industry providing check cashing, loans, bill payment services, prepaid debit cards, money orders and more in a variety of settings. The typical is a store front - a brick and mortar business with employees generally sitting behind glass partitions. Many grocery stores will cash paychecks, stores such as Walmart too, but often with limitations as to the amount and many times requiring you join some shoppers club.
Along about 2014, the automated check cashing kiosk began to pop up here and there. The first few companies failed to gain traction in the market place. Near Cleveland, Ohio, an enterprising convenience store owner introduced a kiosk in his stores.
How to cash a check in a kiosk. No human interaction makes it fast, secure and confidential.
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