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Check Cashing and Money Transfer Services

SIC 6099 | NAICS 522390


The following guide to market research and industry analysis provides sources for industry trends and statistics, financial ratios, salary surveys, and more.



For guides to other industries, see our index.





Industry Analysis, Trends, Statistics, and Forecasts



Check Cashing & Payday Loans  (view report)
Credit Card Processing & Money Transferring  (view report)

Comprehensive market research reports provide in-depth industry analysis and five-year forecasts, with special focus on the underlying structure and external forces and relationships that affect industries and their performance. Report contents include:

  • Market size and characteristics
  • Key statistics and ratios
  • Current performance
  • Operating conditions
  • Competitive landscape
  • Major companies
  • Five-year growth forecast


FISCA
Information resources available from this trade association include:

Currents Magazine
https://www.currents-magazine.com/
Triannual trade journal provides news and information for owners and operators of financial service centers, with topics covered in this publication including industry news and developments, business operations, marketplace trends, employee training, technology updates, regulatory compliance, and association events and activities. Current and archived issues of the magazine are available online.

FAQs
http://www.fisca.org/
FAQs section provides answers to frequently asked questions concerning financial service centers (FSCs), with topics addressed in this section including types of services provided; industry size in terms of revenue, locations, customers, and transaction volume; regulatory compliance; customer demographic profile; and reasons why customers use FSCs rather than banks or credit unions.

Research
http://www.fisca.org/
Research section includes various reports that provide an overview of the industry and its services, with topics covered in these reports including market size, volume, and scope; product and service offerings; differences between FSC and bank business models; customer demographics; reasons why customers use FSCs instead of banks or credit unions; and FSC service satisfaction ratings.


BKB Publications, Inc.
Cheklist Magazine
http://bkbpublications.com/

Quarterly trade publication provides news and information for neighborhood financial service centers which cash checks and provide payday loans, with topics covered in the publication including industry news and trends, marketing tips and ideas, product and service information, regulatory and legislative updates, and recent judicial decisions. Print edition of the magazine is available by subscription only.


Marketdata Enterprises, Inc.
U.S. Check Cashing & Money Transfer Services
https://www.marketdataenterprises.com/

Market research study provides in-depth analysis of this segment of the consumer financial services industry, with topics covered in the study including customer demographics, market size and growth, key market trends, and regulatory environment and firms profiled including Ace Cash Express, Inc., Amscot Corp., Check Into Cash, Inc., Western Union Company, and MoneyGram International, Inc.


Ken Research
U.S. Money Remittance and Bill Payments Market Outlook
https://www.kenresearch.com/

Market research report provides a comprehensive analysis of the U.S. remittance and bill payments market, with topics covered in the report including money transfer value chain; remittance market by transaction volume, major channel (e.g., bank, non-bank), and service mix; competitive landscape; market share of major players by bank/non-bank channel; and market future outlook and projections.


Koncept Analytics
Global Remittance Report
http://www.konceptanalytics.com/

Comprehensive report provides a detailed analysis of the global remittance market, with topics covered in the report including overview of the remittance system; remittance market by income characteristics; global region, and largest receiving and contributing countries; market dynamics and trends; regulatory compliance; competitive environment; profiles of major companies; and market outlook and forecast.




Financial Benchmarking Data



Industry Financial Ratios
Check Cashing
https://www.bizminer.com  Search for "522390"

Five-year financial statement analysis includes income statements, balance sheets, and key financial ratios, with data available by sales size range on a national, state, and metro area level.

  • Income and expense detail in dollars and percentages
  • Balance sheets in dollars and percentages
  • Cash flow analysis
  • Liquidity and working capital ratios
  • Profitability and return on investment ratios
  • Asset turnover and efficiency ratios
  • Capital structure and debt service ratios


IBISWorld
Check Cashing & Payday Loans
(see links for individual reports)

Cost structure benchmarks section of this report provides an analysis of industry costs and profits as a percentage of total revenue for nondepository consumer financial services firms that provide check, draft, and money order cashing services and may also provide their customers with unsecured short- term payday cash advance loans, longer-term personal installment loans, and other related services.


More Resources ››



Compensation Surveys


U.S. Bureau of Labor Statistics
Nondepository Consumer Financial Services
https://www.bls.gov/oes/

Annual employment and wage survey provides hourly and annual wage data for personnel employed by nondepository consumer financial services firms on a national, state, and metropolitan area basis, with establishments in this financial sector including companies that provide check, draft, and money order cashing services and money transfer services for consumers on a per transaction fee basis.


PayScale
Money Transfer Service
https://www.payscale.com/

Free online service provides salary and hourly wage data for selected job positions such as business development manager, HR operations manager, compliance officer, customer service representative, and teller, with employers for which salary or hourly wage rate data is provided including MoneyGram International, Inc, The Western Union Company, Ria Financial Services Ltd., and Sigue Corporation.


More Resources ››



Business Valuation Resources


Small Business Valuation Multiples

Check Cashing Service
http://valuationresources.com/

Comprehensive reference guide provides market-based business valuation multiples for companies that provide check, draft, and money order cashing services and may also provide money transfer services, issue money orders and travelers checks, and offer unsecured short-term payday loans.








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