27 September 2013 -- Dallas-based money transfer and payment services firm MoneyGram (NASDAQ: MGI) said it has inked a five year renewal of its agreement with Pennsylvania-based commercial bank Susquehanna Bancshares to provide official check
services through its PrimeLink Official Check
NYSE:FDC) announced today that upon completion of the strategic review of its Official Check
and Money Order operation (the "Business") the company has decided to gradually exit this line of business.
TotaleChecks, which has been implemented at other billion dollar credit unions, laser prints online and batch institution official checks
on blank security stock paper.
NYSE:MGI) announced today the signing of a multi-year PrimeLink(R) official check
contract with Federal Home Loan Bank of Pittsburgh (FHLBank) to process FHLBank's official checks
MoneyGram has always been a reliable partner and has provided quality service in the areas of official checks
and payment processing which adds to the strength of RDSI's total suite of products and solutions.
United Bank previously processed its own official checks
and after considering the advantages of outsourcing decided to implement the Travelers Express/MoneyGram PrimeLink official check
TotaleChecks laser prints online and batch institution official checks
on blank stock security paper, which eliminates the storage and management of preprinted checks as well as the security risks associated with storing negotiable documents.
As a result of the credit union's success in reducing the cost of debit card transaction processing, UIECU plans to use the ExpenseMark service to assess two additional areas: consumer checks, which is currently underway, and official checks
Bank officials determined what areas within the bank provided the best opportunity for expense reduction, and ExpenseMark was implemented with a focus on reducing expenses and improving service and quality in the areas of check printing and official checks
Outstanding official checks
can remain dormant for seven years before being turned over to the state.
The "Gold" suite of products includes GoldCheck21, an item processing solution, GoldImage, a photo and document capture and display system, GoldDeposits, for account opening, GoldResource, a branch scheduling solution to optimize productivity, GoldCheques, which allows the laser printing of official checks
and money orders, and GoldMonitor to help institutions better identify their customers in compliance with the USA Patriot Act.