Motile

Merchant Services For Your Business

Solutions for Check Cashers & Money Service Businesses (MSBs)

Do you run an MSB and need a bank account? Contact us, fill out a 5-minute application, and get yours set up quickly with minimal documentation.

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Get Your Account Fast

Do you operate an MSB and need a bank account? Or are you simply looking for ways to diversify your payment processing, and facilitate the fast and easy cashing of checks?

We have multiple solutions that can get you off the ground in a hurry. Nobody wants to stress about their business getting turned down for merchant services over and over. We’d be happy to get you on the right track with instant approval and a $0 setup.

Why do banks turn MSBs away? Under the Bank Secrecy Act, a bank is responsible for understanding the risk of every account it holds, and many simply exit the category rather than do the work. The banks that do serve check cashers want proof you run a real compliance operation: registration with FinCEN as a money services business (renewed every two years), the state check-casher or money-transmitter licenses your activity requires, and a written BSA/AML program with a named compliance officer (FinCEN).

Opening a new location or starting from scratch? Our guide on how to start a check cashing business covers licensing, capital, and setup.

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Easy eCheck Solutions

Whether your business is in the middle of nowhere and you need an electronic solution, or you simply enjoy convenience – Motile can help your business process checks anywhere, anytime.

Check 21

Simply plug the provided check imager into your laptop, scan the front and back of a check, and you’re ready to make your mobile deposit. Check 21 makes the remote deposit of checks legal and easy.

Check Verification

Mitigate the risk of checks bouncing with automatic check verification. Get each check validated to ensure the data is good before it’s processed.

An eCheck turns a paper check into an electronic ACH debit, and the right entry type depends on how you receive the check: POP for checks converted at the point of purchase, BOC for checks converted in your back office, and ARC for checks mailed in or dropped off. Remote deposit capture, made possible by the Check 21 law, lets you scan and deposit checks without a trip to the bank, which speeds up funds availability and cuts handling costs.

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Best-in-Industry Customer Service

It’s embarrassing how poorly merchant service providers treat members of the MSB industry. Making them jump through numerous legal hoops to simply open an account and then closing it with little notice is not uncommon.

Motile is ready to walk you through your application, efficiently take care of the necessary paperwork within 24 hours, and keep you online so you don’t need to keep going through a never-ending rolodex of payment processors.

Good service starts with a complete file, which is what gets an MSB approved quickly. Have ready: your FinCEN registration confirmation, state licenses, your written AML policy and most recent independent AML review, ownership and management details, a list of any agents or locations, and recent bank and processing statements. We use that package to match you with a bank that actually wants MSB business.

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An All-in-One Check Cashing System

Half the battle is getting your account open so you can provide friendly cash checking services – the other half is having the proper system to handle the immediate needs of your customers. Get going with:

  • Remote Deposit Capture (RDC)
  • Day-Of Cash Advances
  • ACH, Credit & Debit Solutions

Your system should also make reporting painless, because MSBs carry ongoing filing duties. You must file a Currency Transaction Report for cash transactions over $10,000 in a day, and a Suspicious Activity Report when a transaction of $2,000 or more looks suspicious. Pair that with ID scanning and check verification to catch counterfeit and altered checks before they cost you money.

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Motile

Merchant Services For Your Business