U.S. Check Cashing & Money Transfer Services: A Market Analysis

BharatBookBureau presents report,“U.S.Check Cashing &Money Transfer Services”,examines nature of business,reasons for growth ofnon-bank services,immigration trends,industry receipts/growth from1999-2012,2013to2017 forecasts,average store revenues
By: Bharat Book Bureau
 
NAVI MUMBAI, India - Jan. 10, 2015 - PRLog -- Bharat Book Bureau presents the new report, on “U.S. Check Cashing & Money Transfer Services: A Market Analysis”. This new study by it's examines the nature of the business, reasons for the growth of non-bank services, immigration trends, industry receipts/growth from 1999-2012, 2013 to 2017 forecasts, average store revenues, extensive customer demographics, key industry trends, federal/state industry regulation/fee caps, self-service check cashing machines, profit margins, franchising, gold buying/selling, global remittance trends, consumer debt levels, reasons for the industry’s improved image, and more.

Jan 09th, 2015- Mumbai, India : Bharatbook.com announces a new report on "U.S. Check Cashing & Money Transfer Services: A Market Analysis”. This study is believed to be one of the few in-depth publicly available business analyses that exists of this market. Seven in-depth company profiles (some with 2008-2012 financials)

This updated analysis by it's examines the controversial but growing “alternative financial services” sector — a $34 billion business comprised of fragmented and loosely regulated check cashing and money transfer services. Payday loan stores and pawn shops are also considered. These outlets serve 35% of the U.S. population. Many companies are happy to accept the business of consumers with spotty credit records who have been rejected by banks--the 12 million “unbanked” households that choose not to use traditional banks.

There are 11,800 check cashing outlets, and nearly 1 million money transfer agents competing for this business today. Many outlets/services overlap—providing multiple services at the same site. The study explores why check cashers have had to diversify, and the effects of the economic slowdown, competition, and new technologies.

This new study by it's examines the nature of the business, reasons for the growth of non-bank services, immigration trends, industry receipts/growth from 1999-2012, 2013 to 2017 forecasts, average store revenues, extensive customer demographics, key industry trends, federal/state industry regulation/fee caps, self-service check cashing machines, profit margins, franchising, gold buying/selling, global remittance trends, consumer debt levels, reasons for the industry’s improved image, and more. Findings of research studies by: Fannie Mae, Georgetown University, FISCA, Federal Reserve Board, brokerage analysts, Natl. Check Casher’s Assn., state banking departments, The World Bank, INS, U.S. Census Bureau, FDIC, brokerage firms, and more.

This study is believed to be one of the few in-depth publicly available business analyses that exists of this market. Seven in-depth company profiles (some with 2008-2012 financials) are provided for: ACE Cash Express, Check Into Cash, DFC Global, Western Union, Moneygram, Ria Financial, Check Into Cash, and AMSCOT Financial.

Table of Contents

Introduction: Study Scope, Sources, Methodology

Executive Overview of Major Findings


* Definition of the components of the U.S. market serving consumers outside of the traditional financial services market (the “unbanked”). Alternative financial services: Check Cashing Stores, Money Transfer Services. Definition of each segment, nature of the business/how it works, number of outlets, reasons for growth, dollar mkt. size 1999-2012, 2013 & 2017 forecasts, major competitors.
* Major market trends affecting each sector: move into payday loans and diversification to other services, state regulation, increased competition, industry critics, consolidation, etc.
* Effects of the recession, 2008-2011 mkt. performance, new technology, shift to electronic payments via debit cards, U.S. immigration trends, remittance inflows/outflows
* 2012 & 2013 outlooks for each segment
* Composition of check casher revenues by type: 2007 vs. 2012

Tables:
- U.S. Population Living Below the Poverty Level (1990-2011)
- Reasons Why Unbanked Families Do Not Have Checking Accounts
- Market potential: 1999-2012 estimated $ receipts of check cashing outlets, money transfers, pawnshops, payday loan services, total industry.
- Check cashing industry revenues: 1999-2017

Customer Demographics: The Unbanked Population

-Discussion of the unbanked population, Findings of FDIC survey: percent and no. of unbanked households
- Banking status for select demographic groups
- Use of pre-paid debit cards, alternative financial services used most often
- Reasons unbanked households don’t have a bank account
- Table: 1999-2012 market potentials of the major market segments: check cashing, money transfer, pawn shops, payday loans, total

The U.S. Check Cashing Industry

Summary & Nature of the Business: How Check Cashing Companies Operate

* Industry definition and size. Number of outlets. Check cashers offer convenience for a price. Typical fees charged.
* Other services offered: money orders, wire transfers, electronic bill payments, notary signatures, utility bill payments, tax preparation, gold buying, payday loans.

To view a full Executive Summary and Table of Contents, please visit:   https://www.bharatbook.com/financial-service-market-research-reports-399880/us-check-cashing-money-transfer-services-a-market-analysis.html

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