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TitleCheck Cashing Costs V1.8
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Kerridge International Inc.
“Bank & Authentication Systems for the New Millennia”

9155 Brookville Rd. Silver Spring, MD 20910-1810
2389 Amana Dr. Henderson, NV 89044-1555

Check Cashing & Fraud Costs to Grocery Stores

Food Marketing Institute (FMI) reports that SWORD will save the average grocery store
$10,000.00 EVERY WEEK in labor costs, reduced shrinkage and vault cash costs…

PLUS a reduction in check fraud costs!
Furthermore, Monday morning check handling and bank deposit labor costs are ELIMINATED!

Labor Costs (losses) to perform Check Cashing Functions
1) Extra staff on payroll to support check cashing functions Friday and Saturday
2) Cashier calls check writer/employer to determine if presenter cashing check is indeed the rightful

presenter of said check. Describes presenter.
3) Cashier then calls bank to determine if check writer/employer is a bank customer
4) Cashier visually examines the check for signs of tampering. Cashier has no way of determining

whether the check is authentic, altered, stolen or otherwise fraudulent.
5) Cashier then visually examines ID presented and makes a notation of the ID number ie driver license

number. Cashier has no way of determining whether the ID is authentic or person is authentic and
rightful holder of said ID.
WARNING: Neither cashier nor retailer nor bank have any idea if presenter cashing check
or check writer/employer that wrote said check is listed on an American
undesirables/terrorists OFAC’s list or International Watch List. Grocery store and bank
face possible fines for laundering money or aiding and abetting in a crime.
NOTE: Direct result is that banks do not want to accept third party checks from grocery
stores or other check cashers and are now refusing to process third party checks due to
possible fines levied by FinCEN for violating Patriot Act clause “Know Your Customer”
(KYC).

6) Cashier then manually enters transaction into a POS terminal
7) Cashier then manually counts out bills and coins less fees

Without SWORD
Total amount of time to process one customer with only one check, 10-12 minutes

EACH TIME check is cashed!

With SWORD “One Time” Enrollment
SAVE 5 minutes per customer; doubling output reduces one full time employee at Customer

Service Counter. Therefore reduction would save $30-35,000/year in labor costs.

Further Savings Next Week
Once account is established the next check cashing routine is LESS THAN 1 Minute.

What could SWORD save you per year in labor and fraud costs?

Without this overhead stores could pass the savings on to the customer!

“Pride & Dignity Banking & Financial Services for All”

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