Category: ACH

17
May

Bank Accounts for Payday Loans, Car Title Loans, CBD, & High Risk Merchants

May 16th, 2018. Two new ODFI’s, lender bank accounts and an extremely competitive payment processor available to serve you TODAY!

Need banking and processing for your high risk payday lending, car title loan lending, cannabis transactions, Image Cash Letters [ICL], CBD oil, MLM, ECig, and Nutraceuticals merchant processing…

ALL at extraordinary rates and zero reserves? Reach out to me! [Inquiry Form below.]

Having been in one of the highest risk verticals for 20+ years – online payday loan lending – it’s been easy for my Team to on board other high risk verticals in need of banking and processing. This includes tribe lending [TLE’s], processing CBD, MLM, ECig, and Nutraceuticals… That’s right!  CBD, kratom, Nutra, and Ecig businesses; all the high risk merchant processing your bank and merchant processor are “uncomfortable” with.

ODFI With Payday, Title & Personal Loan Processing Rates

ACH PROCESSING FEESNew rates and ODFI's effective May 16,20182 New ODFI's Avail. 
NOTE 1: For Tribal Lending Entities (TLE's) a Bank Depository Account WILL be provided.
NOTE 2: Debit & Credit Card Processing is Available.
NOTE 3: We have MULTIPLE ODFI's available for TLE's, Payday, Title...
NOTE 4: No reserves. 3 day hold
Credit Origination$0.75
Rejected Transaction$1.00
Credit Return$2.75Discount%0%
Credit Late Return$2.75Per Prenote$0.30
Credit Chargeback$2.75
Debit Origination$0.75
Debit Return$2.75Monthly FeesN/A
Debit Late Return$2.75ACH Platform Access Gateway$35.00
Debit Chargeback$2.75Monthly Bank Fee$35.00
Notice of Change [NOC]$1.50
NOC Auto-Correction$2.50
Incoming Wire$6.00Application Fee$100.00
Outgoing Wire$25.00Setup Fee$0.00
Returned Settlement$6.00
Un-Authorization$2.50
NOTE 4: Rates are negotiable for high transaction volume.

Bank for payday loan business

Want to learn more about our ACH processing, Push loans to consumer’s phones, Credit & Debit card processing,  ICL [Image Cash Letter] money transfer solutions, bank accounts [ODFI], RDC [Remote Deposit Capture] and more?

Tribe and state models approved!

We can assist you with all your needs.

Let’s schedule a call to better understand your needs and our services!

Fill out my online form.
YOUR PRIVACY IS GUARANTEED!
Your information will only be sent to Jer at Trihouse!!
We ALWAYS act as if an NDA is already in place!
Jer: 702-208-6736 TrihouseConsulting@gmail.com

Has Compass, Kabbage, Wells Fargo, Chase, Bank of America… terminated you? Have you received an “ACH processor Termination Letter” from your Banker? Your ACH processor? No worries! When 35 million consumers demand access to a product, entrepreneurs always find a way.

There’s a fix for this! If you need an alternative to ACH, I’ve got it. Reach out. It’s cheap, proven and works.  Want more info?

Push-funds to borrowers: We have the system! This is huge!

Credit & debit card processing. We specialize in the payday loan, signature lending, small dollar loan vertical.

You know the PDL industry has been “on the ropes.” Dollar delivery systems have been under heavy attack. President Obama launched “Operation Choke Point” and multiple AG’s have squeezed lenders hard. BUT, President Trump is in charge now  🙂  Everything in the payday loan industry is improving daily. Even the publicly traded payday loan’installment and signature loan companies are performing MUCH better and recording huge increases in transaction volume and profitability. The CFPB is crashing and burning!

And, in spite of all the “noise,” millions of consumers continue to “vote” every day to employ our products to solve their financial challenges. Likewise, savvy payment processors and banks launch new, exciting, state-of-the-art money transfer conduits enabling lenders to continue to service our demographic.

ACH for payday loans

Today, I announce money transfer solutions worthy of your consideration:

  • Bank accounts
  • ACH for tribe and state licensed lenders
  • PIN debit
  • PINless debit
  • EFT
  • ODFI’s in the USA
  • ICL
  • Credit cards
  • PDL operating accounts
  • 7 Methods for consumers to make a payment
  • Plug-n-play API’s
  • Legacy portfolio importation
  • Super competitive rates
  • And much more…

This is the future of money movement! 

ACH for Payday Loan Business

Trihouse has solutions available; each focusing on your specific need as an MSB, PDL or title loan lender.  As you know, Operation Choke Point, “bank discontinuance” and state/tribe licensing are all factors determining the most suitable banker, ACH provider and alternatives. Your rates, fees, rolling reserves, etc. are dependent on your business’s specific situation.

Invest 30 seconds of your time here and we’ll provide you with a direct line to our financial solutions provider.
To arrange a private, DISCRETE introduction to our “solutions” go here: Private Request for Intro.

Fill out my online form.

This will enable your Team to discuss your unique, individual needs directly with our processors. Note: The longer your Team waits to find out more, the closer you’ll be to the bottom of the stack of applications. This isn’t B.S. You already know bankers, ACH processors and state lending license issuers are BURIED!

TrihouseConsulting@gmail.com
Request a Private Introduction: ACH Solutions

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07
Jun

CFPB vs ACH Processor Intercept EFT

ACH Processor for Payday Loan and Car Title Loan Lenders Charged by CFPB

42. For example, an ODFI complained to Defendants that one of its clients, an auto title lender, which was debiting varying amounts from consumers’ accounts multiple times, did not have the contractual right or proper consumer authorization to do so, stating that it was “not ok [for the] merchant to us[e] the ACH to ‘sneak’ attack a consumer’s account, [as] it will only draw regulatory attention.” Continue Reading..

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06
Nov

Operation Choke Point, Payday Loans, Senator Cruz

Operation Choke Point

Payday loans, guns…

Senator Cruz takes “big Brother” to task! This is beautiful.

AG Nominee Stuart Delery is a weasel… Sen. Cruz Questions  AG Nominee Stuart Delery on Operation Choke Point.

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11
Jun

No More Payday Loan ACH Transactions Allowed!

You may not currently operate in California BUT this strategy by State regulators will eventually bite you in the ass as well! No payday loan ACH transactions allowed. Image Cash Letters (ICL) to replace ACH?

No ACH transactions to be allowed in Calif.

A data base to be enforced in California.

Proposed Regulations under the California Deferred Deposit Transaction Law

The DBO (California Department of Oversite) recently issued an invitation for comments on a revised draft of changes to its payday lending regulations. The DBO supervises payday lending under the California Deferred Deposit Transaction Law (CDDTL). The deadline for submitting comments is June 24.

Two components of the draft rules have generated significant debate.

  • One would limit transactions to paper checks only – no ACH, debit cards, prepaid cards or credit cards.
  • The second provision would establish a common database under DBO’s management. Payday lenders would have to record all loans in the database, and check the database prior to the transaction to determine whether the borrower already had an outstanding payday loan.

The Invitation for Comments notice and proposed text are available at this link: http://www.dbo.ca.gov/Licensees/Payday_Lenders/Regulations.asp.

Please submit comments to regulations@dbo.ca.gov.

What’s this mean? (Visit EChecksystem.com for an ACH alternative now.)

  • If ACH for payday loans is not available in California, it can happen in your state.
  • Payday and other small dollar credit lenders who fail to add Image Cash Letters to their money delivery options will not survive.
  • Valuations for payday loan, small dollar credit and car title lenders will increase.
  • Your Number One priority is to insist your associates, customers, staff, peers, and the industry respond to the Calif. Department of Oversight immediately!

Want weekly updates like this? Signup now. Your privacy is guaranteed by Jer at Trihouse!

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17
May

Image Cash Letter ICL

Image Cash Letter-ACH Alternative

Payday Loan & Car Title ACH Alternative – The Offering:

Image Cash Letter: A web based portal that will allow for the following:

1) Collection of payments in as early as 1 day

2) Verification of the account prior to deposit to minimize return items and fees (option to push payment regardless)

3) The ability to collect payments by batch, single payments and recurring payments

4) The ability to use the system for scheduled and unscheduled collection payments

5) The ability to use account verification independent of payment processing

6) The ability to push money to customers

7) The ability to collect from persons or businesses.

There are no reserves or extensive underwriting like ACH as the company does not hold your funds or provide you credit. All funds flow directly from your customers account to your account. If an item is returned, it is returned into your account. We do not charge return fees.

ACH for Payday Loan Business

The first service is defined as E Check Draft. An Electronic image is printed out and submitted to your bank for payment. If you bank with Chase, BBT, SunTrust, 5th 3rd or PNC, Payment is credited next day. This is RDC but we create and scan all the items. If you bank at any other bank, payment would not be removed from your customer’s account for 3-5 days and credited to your account.

The preferred solution is ICL (image cash letter) which is also built into the system. This will allow for an electronic file to be set up directly with the bank. This is not check 21 and no image is required to be printed out. This can work with any bank and generally takes 2 weeks to set up. We can guide you on the steps necessary to request this product from your bank so that we may set up ICL. In that case, regardless of where you bank, the money would post out of your customers account next day.

Differences from RCC

ICL creates an electronic file and not a check image like RDC or RCC. RCC takes at least 1 day or more whereas ICL funds enter your account same day if before cut off.

It’s a much faster delivery. Quicker by at least a day over RCC.

Its posts direct to fed same time as bank.

The bank is hands off so they are happier with little involvement on their side once it is set up.

For example with Chase, if you were to send 10,000 items now by 8 pm, they would post SAME DAY unless bank has special holding rules.

We pre-scrub each item (included in fee) so you know if it’s bad before you send it! This greatly assists you in your decision process.

This SERVICE WILL greatly reduce returns and help in the collection process.

If you would like to discuss this service in greater detail, and how it can benefit you,  schedule a call here to determine if you are qualified. Click to “Schedule a Call.”

ACH for Payday Loan Business

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