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  • Writer's pictureUncle SAM

Fee Revenue Is Good, But Inside Store Sales Is Why You Offer Retail Check Cashing

Updated: Jul 19, 2023

Our store owners report that check cashing customers spend an average of $30.00 (non-gas) on inside store sales (CPG/Food) after the check cashing transaction. According to Statista and retail owner feedback and tracking, that equates to $12.00 in incremental gross margin per check cashing transaction over and above fees earned from check cashing.

Retailers set their kiosks fee rates based on the type of check. SAM Machines cash:

  • Payroll and unemployment checks (handwritten & electronic)

  • Government-issued (tax refunds, social security, etc.)

  • Insurance checks

  • Money orders < $500

  • and more

For instance, retailers can charge 3% for paychecks, 5% for government checks, 4.25% for insurance checks, 9% for money orders, and so forth.

Samco’s national fee blend rate is 3.2% on all checks. Our average processed check amount is $420.00. Therefore, the average fee revenue earned from a single SAM Machine user is $13.44.

In other words, the average SAM Machine user generates $25.44 in bi-weekly revenue for your business. Does an ATM do that?

Improve your business and increase customer satisfaction with our one-of-a-kind retail check cashing system.

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