International MSB Banking: Check 21 (RDC) services for international check cashing companies
Our main service is providing a USA bank account and friendly banking relationship to clients located outside of the USA. Along with these banking relationships, we provide the ability to use remote deposit capture technology (Check 21 RDC) to enable clients located outside of the USA to scan and deposit their USA checks directly from their international location. There is no need to send the physical checks to the USA.
Using our software, check images are scanned, uploaded, and sent via a secure network; clearing into the client’s bank account in the USA usually within one business day. The funds are then available to be sent back to the client’s bank account/s located in the country they are operating in.
Our service allows non-USA based companies to accept checks drawn on USA banks from their clients and have the funds deposited through a US bank where the funds are cleared in one business day and availible for use. Many countries can take up to 4 -6 weeks to clear a US check through a local bank in their country. We do it in one day.
In today’s highly regulated payments industry, most international Money Service Businesses have a very difficult time trying to establish US banking relationships or open bank accounts in the USA for their money service activities. We have long-established relationships with MSB friendly banks that understand the unique needs of the MSB industry and especially the difficulties associated with international MSB clients.
We assist our clients with:
- Establishing USA banks accounts with Money Service Business friendly (MSB) banks for international clients
- Facilitation of check clearing through remote deposit capture (RDC – Check 21), usually within 24 hours
- Access to other payment facilities including ACH Debit & Credit, E Check, Credit Card and other US instruments
- Assist with compliance, KYC, and AML programs to make sure you remain compliant with USA regulations ( Bank Secrecy Act & Patriot Act )
International Check Processing (I.C.P.) Solutions has become the leading international provider for Money Service Businesses worldwide. We currently provide our service to international MSB clients in South and Central America, Europe, The Middle East and Asia. Our service is reinventing the Money Service Business by providing international clients and partner institutions with access to the US banking system.
What is Check 21? Learn more here.