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While some banks may immediately cash some government checks and many will cash checks drawn on their own accounts, they are not in the check cashing business.
The industry has existed since employers first started paying with checks in the 1930s and owners of stores and bars figured they could make money cashing payroll checks.
VERO developed the automated check cashing solution to help banks and retailers impact check cashing fraud, serve the unbanked market, and streamline processes associated with check cashing.
VERO's self-service financial solution featuring automated check cashing now offers multiple check-type cashing, support of multiple fee structures and integrated stored-value card loading.
The VERO solution equips financial institutions for the challenges and opportunities of cashing "on-us" checks for the unbanked customer.
PDNB can now minimize the fraud risk inherent in 'on-us' check cashing while enhancing service levels for both our banked and unbanked customer," said Kevin McGuire, chairman and CEO of PDNB.
Cash Systems provides the casino with check cashing, ATM and cash advance services, as well as the All-In-1 ATM product, which offers an array of cash services such as debit card withdrawals and credit card cash advance at the point of sale.
Cash Systems will provide the casino with check cashing, ATM and cash advance services.
In addition, check cashing services are provided through its 138 franchised and Company-owned "Mr.