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Be aware of the New Law in California!

New information reporting requirements went into effect on January 1, 2006:

As a check casher in California you may be required to file an information return with the Franchise Tax Board for: Checks totaling more than $10,000 in one transaction and checks totaling more than $10,000 in two or more transactions for the same person within the calendar year. You must provide information about affected transactions as: name, address, tax payer identification number and the amounts and dates. - State of California Franchise Tax Board

For more information on the legislation including who must file and what to report, visit
http://www.ftb.ca.gov/businesses/ck_cash.html

If you find you are subject to these new regulations, we can help you comply to the extent it applies to you. You don't want to be fined or lose your ability to cash checks for failure to file!! Don't let this happen to you!

30 Million People In America Need Biometric Identification

Immigrants from countries such as El Salvador, Mexico, and Guatemala have fueled the rise in the number of American households who do not have checking accounts according to the U.S. Treasury. This accounts for an estimated 9 to 10 percent of households, or an estimated 30 million people, in America. Often "lightly documented," these hard-working residents often find it difficult to cash their paycheck at a bank or a retail store. Due to the certainty biometric identification provides, consumers are gravitating towards retailers using this new technology.

Consumers say they "love it because without a bank account, cashing paychecks has just gotten much easier using biometric identification. I just walk in, put my finger down and the clerk instantly 'knows' me."

Retailers also report loving the system because "it works amazingly well and once we installed, it nearly eliminates fraud."