Money Service Business (MSB) Checking Account
Features
MSB or Check cashing account is an account that you can open at Nizari and deposit third party checks. Monthly fees start at $135 and per check fee of $0.15 applies for each third party check deposited. There is also a withdrawal fee of 0.14% on all withdrawals originating from MSB account. (All withdrawals including Cash, ACHs, Checks, Transfers, and member initiated debits.)
- $2,000 minimum balance required
- Maximum amount of per check face amount accepted for deposit depends on the risk score we assign your business*
- Security Deposit required based on our analysis of your account. Additional security deposit is required if you cash IRS checks and deposit them at Nizari PFCU
- Up to 80% of your total check deposit amount is available immediately in most cases
- Remote Deposit Capture services through MVI
- Cash delivery directly through Loomis**
- Free Online Banking with text message and email alerts
- Free Unlimited Currency Deposits
- Unlimited Check transactions
- Unlimited Teller transactions
- Free Night Drop facility
*Based on the safety and soundness of your policies & procedures, your business’s Independent Review reports, and our assessment of your business practices
**Independent Contract with Loomis required
***All other Money Service Business Account (MSB) fees apply. See Rates.
- $2,000 minimum balance required
- Maximum amount of per check face amount accepted for deposit depends on the risk score we assign your business*
- Share Certificate required based on our analysis of your account. Additional share certificate is required if you cash IRS checks and deposit them at Nizari PFCU
- Up to 80% of your total check deposit amount is available immediately in most cases
- Remote Deposit Capture services through Check Logic
- Cash delivery directly through Loomis**
- Free Online Banking with text message and email alerts
- Free Unlimited Currency Deposits
- Unlimited Check transactions
- Unlimited Teller transactions
- Free Night Drop facility
*Based on the safety and soundness of your policies & procedures, your business’s Independent Review reports, and our assessment of your business practices
**Independent Contract with Loomis required
***All other Money Service Business Account (MSB) fees apply. See Rates.
Other Business Products
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Have a question?
Unlike other financial institutions, we are not open to the general public. Please take time to discover how you qualify. For membership eligibility and other assistance, please call our Member Service Center at 281-921-8500 or send us a message.
