Payroll Check Cashing
What We Do
Establish a Direct Banking Relationship
Envoy helps our MSB clients to establish a segregated account, titled in the client’s corporate name and EIN or TIN number, exclusively for their deposit activity. Check data scanned from the client’s merchant location/s travels directly to the Federal Reserve, or respective landing zone, posting as cleared funds to the client account at the bank of first deposit by 9:00am ET, the following morning.
How We Do It
Remote Deposit Capture (RDC)
RDC begins with your computer’s high speed internet access, a scanner, or in some cases, an existing POS scanner, which will send check images from your business location(s) to your merchant account electronically.
RDC software, installed at any merchant location(s) worldwide, allows your staff to simply scan customer checks into electronic batches. The verified and uploaded items are delivered securely via the internet.
ACH Credits & Debits
We provide clients the ability to transfer funds to their via ACH, depending on the urgency to access funds and/or value.
ACH transactions are usually settled within forty-eight to seventy-two hours.
Availability of funds is at the discretion of the recipient bank.
We recognize our clients’ differing needs when it comes to transferring funds, relative to the immediacy and finality of settlement and the cost, value, and volume of transactions.
Our MSB-friendly Financial Institutions provide our clients, Domestic and International, the ability to send and receive Wire Transfers.
Deposits can be executed 24 hours, 7 days a week.
Our Check 21 vendors deliver client data directly to the Federal Reserve Bank for settlement, then for further credit to our partner MSB-friendly ODFIs.
You will have unlimited access to banking services and cash access.
Level Of Service
We pride ourselves on our commitment to providing the best service in the industry.
Our partners service the MSB industry exclusively, and we make our customer service available 24/7/365
Integrate with Your Existing Accounting System
Retain your own data, securely stored on your PC hard drive, with no dependence on third party or other proprietary bank systems.
The check images and data are at your location, enabling flexible manipulation and integration with your back end accounting systems.
Eliminate posting errors.
Information and control will be at your fingertips: view, print, or send any single item (front and back image information), or report on total activity year to date, from one or all locations.
All account information is SSL secured and available 24/7 on your management website.
Delegate access rights to staff for a single terminal, or multiple locations, ensuring the protection of confidential information.
Protect yourself from employee fraud with our tamper evident system, by tracking and comparing balances between your office, your website and your account.
Benefits for Money Service Businesses
- The Reliability of Multiple Banking Partners
- Accelerated Rotation of Working Capital
- Mitigate Lending Line Costs
- Better Compliance
- Improve Efficiency & Increase Control
Options That Fit Your Business
- Weekend deposits are available by 9:00am ET, each Monday.
- Cleared funds can be returned to the client by ACH, Wire Transfer, or armored cash logistics.
- CD’s, Surety Bonds or long-term fixed collateral are not required.
- Check instruments must be drawn on a U.S. bank and denominated in U.S. dollars.
How do I get your system at my location(s)?
The IT department will work with your staff remotely, from our corporate office and simply install all necessary software on your computers. We will walk you through the entire process, from scanning the items, tracking the progress of your deposits, confirming receipt of your funds in your merchant account, all the way through notification of returns and re-presentment.
Our IT service department is available 24/7.
How fast will I have access to my money?
Why should I send my money to you instead of sending it directly to a bank?
How long will it take for me to open an account with one of your partner banks?
Do you offer Spanish-speaking customer service?
What are the stipulations?
- Cannot deposit more than $1000.00 per day per person
- No US Treasury Checks
- No Business to Business Checks