Indeed, in times of economic struggles consumers use alternatives to traditional banks, like the check cashing industry. The check cashing industry in the United States has been characterized by a phenomenon that depends on an economic context, in which a consumer turns to its services as a means of receiving cash back, fast. For an estimated fee of up to 5% of the face value, or 10% in many states, a consumer can cash his or her payroll check. In many cases, up to an estimated US$20 payment for cashing a check. An excessive fee in order to obtain your hard-earned money. However, history dictates that with the economy recovering and more check cashers loosing their banking relationships, the demand for check cashing services will cease to exist. Consumers will not necessarily move back to a traditional bank, but will consider other alternatives.
PAYTOO Direct is a great way for consumers to manage their money as well as enjoy multiples financial solutions.
After signing up for a PAYTOO mobile wallet, which is free and includes other services as are; funds transfers, bill payment, cell phone top ups, and remittance services, you can instantly have access to PAYTOO Direct. You will no longer have to go to the bank or a check cashing store to cash your payroll. It is safe and easy! The funds will be available within 24 hours or less. You just have to give your employer your PAYTOO mobile wallet routing information and get instant access to your paycheck. Say goodbye to expensive check cashing fees with PAYTOO DIRECT.