Has Compass terminated you? Have you received an “ACH processor Termination Letter” from 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. It’s called Image Cash Letter (ICL) and it’s a new, exciting way to enable nearly all businesses (no porn or pharmaceuticals) to easily collect payments. Want more info? Inquire about ICL Click Here.
ICL System: No deposits, 1-2 day clearing of funds, return notification in 1-2 days, no worries about return percentages, funds deposited directly into your account, and no worries about receiving a termination letter from your ACH processor.
“California will track consumers who take out payday loans and ban letting online payday lenders getting electronic access to customers’ bank accounts under a new regulatory proposal, according to American Banker.”
“The new rules would require payday lenders to secure loans with a paper check instead of electronic account access. That would make it much harder for online payday lenders to do business — but those lenders are typically much more expensive than storefront lenders and generate more fraud and abuse, and most online lenders don’t have state licenses, according to a 2014 Pew Charitable Trusts report.”
“A payday lender trade group, the California Financial Service Providers Association (CFSP), said the new rules “would have a high probability of forcing many or most” of its members out of the payday loan business. The group’s members are all state licensed, it said.”
“But a spokesman for the California Department of Business Oversight said that reducing online payday lending “may not necessarily be a bad thing. The spokesman, Thomas Dresslar, added, ‘The more the scope of payment instruments expands beyond paper, the more dangerous the market becomes for consumers. It’s not the storefront operations that are the problem. It’s the activity on the Internet.”
You know the PDL industry has been “on the ropes.” Dollar delivery systems have been under heavy attack. President Obama launched “Operation Choke” and multiple AG’s have squeezed lenders hard.
In spite of all this noise, millions of consumers continue to “vote” every month to employ our products to solve their financial challenges. Likewise, savvy payment processors launch new, exciting, state-of-the-art money transfer conduits enabling lenders to continue to service our demographic.
Today, I announce money transfer solutions worthy of your consideration; ACH, Debit, Credit and ICL. One of our two ACH processors offers an ODFI and operating accounts in addition to ACH. The 2nd solution is called an ICL [Image Cash Letter] E Check system enabling small dollar credit lenders to easily collect payments from consumers and businesses. It offers a few advantages over ACH including no need to worry any longer about how to collect your funds or if you will be “kicked-out” of your ACH company. This is the future of money movement! This system operates as an Image Cash Letter and clears the account within 1 day of being presented.
* ACH for tribe and state licensed lenders
* ODFI’s in the U.S.
* PDL operation accounts
* Consumer savings plans
* 7 methods for borrowers to make a payment
* Plug-n-play API’s
* Custom Card Issuing with reloadable debit card programs
* Legacy portfolio importation
* Competitive rates you can “digest”
* And much more…
2. ICL Image Cash Letter System
NEW: Visit our ICL website: ECheckSystem.com. Trihouse is showcasing the ICL (Image cash letter) E Check System that will allow anyone, including payday loan and title lenders to easily collect payments from consumers or businesses. This system has numerous advantages over ACH which include:
· No deposits
· 1-2 day clearing of funds
· Return notification 1-2 days
· No need to worry about return percentages
· Funds deposited directly into the business account
· Works with nearly every bank.
Again, by employing ICL, you’ll no longer worry about how to collect your funds or receiving a Termination Letter [TL] from your ACH processor. This is the future of money movement! This system operates as an Image Cash Letter and clears the account within 1 day of being presented.
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 ACH provider and alternative. 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 the ACH and/or ICL processing solution that fits your needs.
To arrange a private, DISCRETE introduction to our “solutions” go here: Private Request for Intro.
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 ACH processors and state lending license issuers are BURIED!