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All Rights Reserved, Check Cashers Can Enjoy Accelerated Rotation of Capital and Next Day Funds Availability Designate a person to assure day-to-day compliance with the BSA; Incorporate policies, procedures and internal controls reasonably designed to assure compliance with the BSA; Provide education and training to appropriate personnel; and. Your check cashing business receives a real money service business bank account that is backed by a network of MSB bank accounts. Non profits working abroad are left without a cash supply to complete or even continue their missions. LOS ANGELES,June 18, 2019/PRNewswire/ National Check and Currency (NCC) now offers cash vaulting and banking services, Money service business banks and state regulators are forging ahead with a multi-state licensing process for MSBs. Using two or more banks could be a great option if you like features at different banks. One Sansome Street, Suite 600. C.D.s, Surety Bonds or long-term fixed collateral are not required. Her MSB serves its community through Western Union, check cashing, and bill pay. I opened a personal checking account and two business accounts at Spectra Bank and have been very happy with the service I have received. The states average customer satisfaction score among banks was 625, out of a possible 1,000. Our check 21 vendors deliver client data directly to the Federal Reserve Bank for settlement, then for further credit to one of our partner MSB-friendly ODFIs. Website: http://www.natcnc.com/msb/msb-friendly-banks/ MSB friendly banks are increasingly hard to find in the face of ever-changing compliance regulation. With NCC, money service businesses enjoy, To meet the demands of their growing client list, NCC recently hired former Federal Agent Mark Ochab as the new Director of Banking. sales@natcnc.com, NCC Expands Cash Vault Services and Processing Deadlines For California Check Cashers, Money Service Business Banks & Regulators Enter Multi-State Contract, How Kenya Revolutionized Financial Inclusion. What does this mean? California Check Cashers Now Have Banking Options With NCC's Expanded As a client of NCC, you will enjoy the following benefits of a redundant and compliant MSB banking relationship: The regulations and trends that make MSB friendly banks so hard to find NCCs team of MSB industry experts helps MSB owners solve their problems and secure a real bank account.