The Check Cashing functionality allows the CSR to encash a check received from a borrower for their check cashing. It provides the lending company with the ability to carry out Check Cashing transactions for Checks received from the borrowers.

Features

• Captures the various details of the check cashing borrowers, and issuer details
• llows encashing of various types of checks such as social security, child support, etc
• Keeps track of all the check cashing checks received, till the amount is paid back
• Easy to define various types of discount rates for the check-cashing transactions
• Parametric search for retrieving the check-cashing borrower’s information and  performing the transactions
• Maintenance of check issuer details including the check cash limit for the past ‘n’ number of days that can be issued on check cashing checks
• Comprehensive call management and collections details for the check cashing transactions

Transactions

• Check Cashing – Enables encashing of  check cashing checks from various  issuers
• Return Check Posting –Posting of check cashing checks that are returned
• Clear Check - Marking the deposited check cashing checks as cleared checks
• Return Check Payments – Payments made by borrower after the check cashing checks are marked as returned.
• Rollback – Time bound rollback for all the check cashing transactions.