Why is Cash Checking Considered High-Risk?
Not all payment processors are equipped to handle Cash Checking businesses. Many classify the industry as "high-risk" due to factors such as:
- High cash volume and fraud exposure
- Strict federal and state compliance (e.g., FinCEN, AML, KYC)
- Association with money laundering or unbanked clientele
- Frequent returns, chargebacks, and counterfeit check risks
- Prior denials by traditional acquirers and banks