Recession over?
Perhaps not yet, but check cashing activity amongst the unbanked is showing signs of stabilizing, as the number of retail check cashing transactions in October 2009 increased 4% from October 2008.
The average check amount was $449 in October, down 1% from the October ’08 figure of $455.
Data have been compiled on a comparable store basis nationwide at retail locations using Paycheck Secure, the biometric check cashing service from AllTrust Networks. Stores in the network cash payroll and government check for consumers as an alternative to traditional banks. For more info on the source of this data, click here
Are you seeing the same trend in your check cashing business? Share your experience in the comments.
Check out our past articles. . .
Top 10 Check Cashing Names
Why are Check Cashing Stores Necessary
Alternatives for Cashing a Check without a Bank
