Category: Banking

09
Feb

Cannabis Banking, Credit Cards & Merchant Accounts

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Hello Cannabis Merchant!

We’re certain that you have received many offers for banking and credit card processing and you are either dissatisfied or your contact was unsuccessful at getting you approved and running.

We have helped many merchants in the Cannabis, Hemp and CBD industry, with end-to-end solutions to help drive business.

We understand the unique challenges that your business encounters and we customize our solutions to meet your needs. All our services are provided separately, or you can combine them to create the perfect environment.

We offer the following financial solutions:

Domestic Bank Accounts

We can provide this banking solution, with all the features you would expect in a traditional bank environment, in every state cannabis is legalized. This solution is a traditional banking product and is perfect for cash deposits, funding your payment processing solutions, online banking and you will receive checks and debit cards with your bank account with all the features you would expect in a traditional bank environment.

PIN Debit Payment Processing and Traditional Credit Card Processing

These products are designed for physical store fronts and mobile delivery.

The PIN Debit Payment Processing competes with Point-of-Banking however it’s much more cost effective for your cannabis Customers because they will not be assessed additional fees from their bank for using this service; as they would with Point-of-banking.

You can charge the processing fee to your Customer in whole or in part.

We can integrate these solutions with your Point of Sale system for Credit Cards and Debit Cards!

We support growers and extraction companies, as well as dispensaries. We also provide payment processing to merchants who support the cannabis industry but may not directly touch cannabis (like suppliers, manufacturers, realty companies, etc.)

Contact us today so we can review which of our products are a match for your company’s needs.

 

Best Regards,

Team@eCheckSystem.com

Direct: 1-702-208-6736

http://www.eCheckSystem.com

01
Feb

APR FOR DEFERRED PRESENTMENT, PAYDAY LOAN, CAR TITLE LOAN TRANSACTIONS

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HOW TO CALCULATE THE APR FOR PAYDAY LOAN, DEFERRED PRESENTMENT & CAR TITLE LOAN TRANSACTIONS

The Annual Percentage Rate (APR) as required by the Truth-In-Lending Act
(TILA) for deferred presentment transactions is calculated by multiplying
the interest rate for the term by the number of terms in a 365-day year, or
symbolically:

(Interest Rate for the term) * (365/term in days)

For example, a 14-day deferred presentment loan at 17.5% interest has an APR of:
17.5% * (365/14) = 456.25%

A 15-day deferred presentment loan at 17.5% interest has an APR of:
17.5% * (365/15) = 425.83%

A 14-day deferred presentment loan at 15% interest has an APR of:
15% * (365/14) = 391.07%

A 15-day deferred presentment loan at 15% interest has an APR of:
15% * (365/15) = 365%

23
Jan

Bank & Processing Services for Lenders: Tribe & State Licensed

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By Jer Ayles. The Business of Lending Money.

We got a “bad” letter from our bank!

15 days to find another bank for our 11 year old consumer loan business.

Things appeared grim. Our bank was “very sorry.” Something about “the people at Corporate…”

I went nuts.

“Operation Choke Point” is kaput… over… out of fashion… President Trump is in charge now,” I screamed into the phone! I couldn’t stop myself. I lost it!

Then, I went to work.

Luckily, I’ve nurtured relationships with a lot of processors over the years.

I reached out to a BUNCH of them.

Success!

8 days later we had a new ODFI and a processor with 20+ years in our consumer loan industry. (Yes, we were prepared. You gotta be in our industry. Sh$%^^&T happens 🙂

IF you’re worried about suddenly getting a horror letter from your bank or processor, REACH OUT TODAY!

My old friend offers banking and payment processing for B2C financial services employing Tribal, Offshore & State lender programs.

Get super competitive rates from an experienced Team specializing in our industry:

  • Tribal, offshore and State Based Programs all over the United States
  • Online and Brick and Mortar Programs
  • MSB servicing
  • Tribal Lending depository accounts
  • Payday lending
  • Title loan lending
  • Signature loans
  • $ push to consumer transactions
  • PIN debit/EBT card processing
  • ACH Processing
  • Credit and Debit Card Processing
  • Bank accounts (ODFI)
  • RDC
  • Same day funding
  • Cash delivery
  • Cash Pickup
  • Vaulting
  • Internet and storefront
  • Compliance consulting

Schedule a private, personal call to discuss your options BEFORE YOU GET A “BAD” LETTER!

Fill out my online form.

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