Ingo Money and Global Cash Card, a specialist in customized paycard solutions have partnered to provide the Ingo Money mobile check cashing service to Global Cash Card customers.
With the Ingo Money service, Global Cash Card is extending the utility of its paycard programs to enable cardholders to cash checks to their paycard accounts with their mobile device and access their money in minutes for a fee or in 10 days at no additional charge.
The Ingo Money mobile check cashing service, enabled by Ingo Money and provided to the consumer by a national bank, accepts checks ranging in value from $5 to $2,500 across most check types including payroll and government checks, two-party personal checks and a wide variety of institutional and specialized check types: money orders, cashier’s checks, handwritten payroll checks, insurance checks, rebate checks and others.
Leveraging sophisticated risk decisioning algorithms and underwriting processes, Ingo Money reviews checks for risk management and guarantee, and a national bank cashes approved checks and credits funds to the customer’s account. Once a card is funded, the money is as good as cash and safe to spend, pay bills or transfer to others without the risk of reversal. If checks fail to clear or are returned after funds are credited to a paycard account, the loss is borne by Ingo Money, protecting Global Cash Card and its issuing banks, employer clients, and cardholders from any risk or obligation on returned checks.
Ingo Money owns and operates two lines of business. Ingo Network Solutions, operated in conjunction with First Century Bank, is a consumer-direct network accessible via mobile and retail channels.
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