News & Events
September 26, 2016
UNITY FI SOLUTIONS PARTNERS WITH PAYMENTS PROVIDER TO DRIVE BUSINESS GROWTH
CHARLOTTE, N.C. — Unity FI Solutions, a leading provider of payment and software processing solutions, has reached a partnership agreement with Money Transfer Systems, Inc., instantly helping to raise Unity FI’s profile among nearly 150 financial institutions, including three of the 50 largest banks in the United States, the largest with approximately $140 billion in assets.
Under the terms of the agreement, Money Transfer Systems will sell Unity FI’s non-competing payment and processing solutions to its corporate and financial institution customers.
“We are excited to partner with Money Transfer Systems in what we see as a mutually beneficial arrangement,” said Dan Miller, co-founder of Unity FI. “This partnership will increase our exposure among some of the nation’s largest banks, and offers us the opportunity to further position ourselves in the marketplace.”
Based in Clearwater, Florida, Money Transfer Systems provides check recovery solutions for banks, schools and merchants utilizing the brands ACHxchange and CheckXchange. However, the company does not offer the breadth of processing solutions that Unity FI has available.
“I am excited to have the opportunity to offer even more products and services to my clients through this arrangement with Unity FI,” said Mel Ora, president and CEO of Money Transfer Systems and an industry veteran with more than 45 years of experience. “This partnership allows both of our companies to build on our existing platforms and grow our networks to maximize our business potential.”
About Unity FI Solutions:
Unity FI Solutions is a Charlotte, North Carolina,-based technology firm that delivers customized, secure and cost-effective electronic payment and collections solutions to clients in a wide range of industries. For more than a decade, Unity FI Solutions has brought innovative payment solutions to its clients with the goal of helping them improve their bottom lines and increase operational efficiencies.
January 6, 2016
Money Transfer Systems, Inc. Announces the Launch of checXchange Mobile™
Clearwater, Florida – Money Transfer Systems, Inc. is very pleased and excited to announce the launch of checXchange Mobile™, a revolutionary new, “first to market” Mobile App that will significantly improve the NSF check recovery process for small and mid-sized business owners. The checXchange Mobile™ App is NOW available for download in the Apple App Store and on Google Play.
Money Transfer Systems, Inc. has developed checXchange Mobile™ using the same proven Remote Deposit Capture (RDC) technology that is utilized today in Mobile Banking. The difference here is that users can simply snap an image of both sides of all returned NSF checks which they receive and then tap send in order to transmit them in a secure environment to the Money Transfer Systems processing center for recovery.
The checXchange Mobile™ App is free to download and there is NO COST to the user for the service. The App allows users to securely scan and send bounced NSF checks which they receive, so that they can be electronically re-presented and recovered. Using our proprietary strategic process, we consistently achieve an industry leading 75.6% average recovery rate on these items. We return 100% of all of the recovered funds directly to the user and most all recoveries occur within a 7 to 14 day window. In addition, comprehensive “real-time” reporting is available 24-7 on all submissions for each user.
If a business accepts paper checks as a form of payment and receives even one returned NSF check, it is worth their time to download and use this App. checXchange Mobile™ will not only will replace their own NSF check collection efforts at no cost, but also increase their cash flow and profitability in the process by increasing the recovery success rate by 3 to 5 times over in-house efforts. Enrollment and set-up are fast and simple on any iPhone, iPad or Android device.
Money Transfer Systems Inc. is a successful industry leader in electronic check re-presentment and recovery services with a track record of over nine years in the business. Our client list today includes over 150 banks and we recover over $100 million dollars in funds for our clients each year.
February 13, 2015
Money Transfer Systems, Inc. Announces Acquisition of ReSubmitIt, LLC
Clearwater, Florida – Money Transfer Systems, Inc. is very pleased to announce the acquisition of Louisville, KY ReSubmitIt, LLC.
Mel Ora, CEO of Money Transfer Systems, which owns and operates checXchange™ Electronic Check Recovery, knew and respected ReSubmitIt, LLC., and had competed with them over the years. We have considered ReSubmitIt, LLC. to be our strongest competitor, due to its focus on compliance and its great service to customers … pillars on which we have built checXchange™. At the end of the day, electronic check recovery is a processing business, benefitting greatly from economies of scale, which leads to innovation and improvements. Money Transfer Systems will be able to leverage that for all their customers’ benefit.
If a business accepts paper checks as a form of payment and receives even one returned NSF check, it is worth their time to use checXchange™ and ReSubmitIt which will not only will replace their own NSF check collection efforts at no cost, but also increase their cash flow and profitability in the process by increasing the recovery success rate by 3 to 5 times over in-house efforts.
Money Transfer Systems Inc. is a successful industry leader in electronic check re-presentment and recovery services with a track record of almost ten years in the business. Our client list today includes over 150 banks and we recover over $100 million dollars in funds for our clients each year.
October 31, 2013
The New York Bankers Association featured the checXchangeTM service in the ’Profit Solutions’ section of their October 2013 Newsletter. This newsletter and the article featuring checXchangeTM may be viewed online by clicking on the following link: NYBA October Newsletter. Thank you NYBA for helping us get the word out about our very beneficial service for banks and their merchants.
September 19, 2012
We have helped to bring about a new fantastic article to the ‘Banking World’ about the great benefits of Electronic Check Recovery (RCK). Bill McFarland from Gonzobanker.com has explained that too many banks have continued to manage the collection of RDI’s manually, or outsource them to a third party collection agency, when a wiser path is to implement a RCK service, like checXchange™ to help merchants and the bank to become more efficient. To view this complete article please click on the following link: Hidden Treasure: Electronic Check Recovery.
August 6, 2012
We are pleased to announce that BankNews, a nationwide independent publication who strives to offer the best news for community banks throughout the United States (with special emphasis on the Central and Western states), has published an article featuring the benefits of checXchange™. checXchange™, The National Leader in Automated Check Recovery, provides an opportunity for Banks to no longer ignore available unclaimed bank revenue which inspired the name of the article: Unclaimed Bank Revenue. To read the whole article click on the following link: BankNews: Unclaimed Bank Revenue.
June 1, 2012
Digital Transactions News has mentioned the following in their publication.
Spirit Bank Business Clients find Success in Check Recovery Partnership
Clearwater, FL – May 7, 2012 – Spirit Bank in partnership with Money Transfer Systems, Inc.(MTSI), has found major success for Spirit’s business clients to offer MTSI’s checXchange™ Electronic Check Recovery (ECR) service. To free up time and assist in collecting dishonored checks, checXchange™ has taken over the collections process for many of Spirit’s business clients. Instead of a dishonored check being sent back for a business to collect, Spirit forwards the returned item to checXchange™ where it is imaged, archived, and electronically re-presented. The bank account of the dishonored check writer is then monitored for electronic re-presentment through the Automated Clearing House. checXchange™ recovers and pays the full face amount on all checks collected electronically with no charge to the business owner.
“We foresee great success for our business clients in the area of dishonored check recovery,” said Bob Lewis, SVP Cash Management, “No longer will Spirit business clients have to spend their valuable time collecting returned checks as checXchange™ does this for them. “
ECR improves the collection rate on bad checks as well as the recovery time when compared to traditional check collection methods. In addition, checXchange™ provides 24/7 website access on all business account activity to monitor the check collection process and there is no equipment or training needed. This service allows Spirit’s business clients to focus on day-to-day operations and not waste valuable time chasing down dishonored checks. About Spirit Bank Since 1916 Spirit Bank has been a family owned community bank, currently with 16 branches throughout Oklahoma. Visit www.spiritbank.com for information. About Money Transfer Systems, Inc. Headquartered in Clearwater, Florida Money Transfer Systems, Inc. is a full service electronic payment solutions provider. Our innovative systems allow our merchants to experience high electronic check collection rates, while enjoying recovery of 100% of the face value of their checks. Money Transfer Systems is committed to offering industry leading payment products and services at highly competitive rates. For more information, visit www.checXchange.com. For further information, contact:
Money Transfer Systems, Inc. (800) 208-2964 sales@checXchange.com © 2012 Money Transfer Systems, Inc.. All rights reserved. Money Transfer Systems, Inc., checXchange and achXchange™ are trademarks of Money Transfer Systems, Inc, in the United States and or other countries. All product and company names herein may be trademarks of their registered owners.
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The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
September 20, 2011
Money Transfer Systems, Inc. is pleased to announce the release of our new website. Our new site has been redesigned with a fresh new look and has been updated with information about our latest products and services. Additionally, our new site will provide support and information to answer your most common questions.
Our website is built using an open-source Content Management System that allows us to quickly make updates to content and materials.
Your comments and suggestions on our new website and how we can continue to strengthen our communications is encouraged and welcomed!