Cheque Cashing

With all the advances made in today's banking industry, banks still insist that you wait 3 to 5 days before you can access the funds from cheques you deposit with them. OK......... if you have free funds (a credit balance in excess of what you need to access) you can draw cash out or send a cheque to pay an outstanding bill.

In the construction industry as in most small business operations, employees require their wages in cash, each week ...... Thursday or Friday .......... no cheques or no electronic transfers .... CASH.
However, in say the construction industry, the bricklaying contractor and the carpenter receive a cheque to cover progress payments at week's end but their staff require wage payments in cash. Clear funds are low at the bank and you cannot obtain a short-term overdraft. Your "friendly" bank is aware the progress payment funds are there. The funds were transferred from the contractor's bank account to your (the subcontractor) bank account ...... but the "friendly" bank keeps it's foot on the funds for 3 to 5 days.
Just in case!!!!!

THE ANSWER!! ........ First Fidelity Cheque cashing service ........

First Fidelity will pay in cl
ear funds 80% of the face value of a sub- contractor's progress payment cheque into the sub-contractor's bank account within one hour of receiving the cheque. The balance once the contractor's cheque has been honoured will be deposited in clear funds to your account. We will deduct our service fee from the balance at the same time we pay into your account by electronic transfer.


Have some questions? Need some clarification?, ask us here

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