Easy Navigation
for Rapid Transaction Creation |
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Once a customer has been entered into your system,
subsequent transactions can take as little as 5 seconds
to process! Using our MagTek check reader or scanner,
all you have to enter is the check amount and the check
number! You can optionally choose to print a receipt or
just begin the next transaction! It's that quick!
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Multi-Lingual (English, Spanish)
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Currently, there are two languages supported. The
English (US) version and the Spanish (Mexico) version.
This allows you to operate the TeraCash™ Check Cashing
System in the language you feel most comfortable in!
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Customer Tracking
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Customer information entered into the system, stays in
the system. This allows for faster transactions for
returning customers as well as the ability to build
custom reports to track such things as customer details
and frequency of visits, monthly transactions, total
transaction amounts, etc.
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History Logging
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Each transaction created is automatically stored into
history for future investigation. This eliminates the
need to keep all transaction records stored away in file
cabinets or boxes. All data is stored digitally and can
be easily reprinted or manipulated whenever you need to!
Want to scan and keep ALL of your documents into digital
formats for easier retrieval and to uncluttered your
office by eliminating paper tracking nightmares? Ask us
about TeraDOX™! Digitize important documents, receipts,
bills, reports, IRS forms, loan application, pictures,
and much much more!
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Search by Customer/Bank/Company
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Our exhaustive searching capabilities allows you to
search for any information you enter into the
system. Customer information, bank information, company
information or transaction information all on one
simple-to-use search screen!
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Automated Backup
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TeraCash™ automatically backs up your data every time
you exit the system. This allows for an added layer of
redundancy in the event that something happens to your
database due to circumstances beyond your control! Once
the backup completes, simply use your favorite off-site
backup solution to move the data to a safe location such
as a fire-proof safe or safety deposit box!
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MICR Check scanning and MAG stripe reading
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With an optional check reader or scanner,
TeraCash™ provides the ability to automatically read the
magnetic stripe on the bottom of the check and populate
the transaction screen with all the customer
information. Not only does this make transaction time
faster, but it also ensures that the check is not a
photocopy of the original. If the
check cannot be read with the MICR reader, then
it likely does not contain magnetic ink and should be
carefully inspected prior to acceptance.
Additionally, you can use a MICR check scanner to
both verify the magnetic ink of the check as well as
scan the front and/or back of a check to keep a copy on
file for your records*.
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Per-user security with
individual user drawer support
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TeraCash™ supports multiple users - each with individual
rights. Rather than supporting only two broad categories
of users (usually general users or administrators),
TeraCash™ utilizes task-specific rights and privileges
assignable to each individual user. For example, a
general user may be allowed to create transaction, but
not view client history, override pre-defined fees or
print accounting reports. On the other hand, your
accountant may be able to print reports but not create
transactions. This level of security is available for
virtually all tasks within the TeraCash™ Check Cashing
System. Additionally, each user can be assigned his or
her own virtual drawer to keep track of start and finish
amounts. If user-security allows, at the end of a user's
shift, they can print their drawer receipt to balance
all of their transactions. Otherwise, you can print a
drawer report for all users at the end of the day.
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Custom fees for multiple
transaction types
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For those who accept multiple type of checks, TeraCash™
offers the flexibility to assign different fee
structures for the various types. For example, you may
wish to assign regular payroll checks one set of fees
because their higher risk, but assign a lower fee
structure for tax refund checks since those checks are
backed by the US government. This feature also allows
you to offer certain customers (such as recurring
customers or a membership incentive) discounted fee
rates using the same principal. For example, if you want
to offer all customers a yearly membership, you could
create a new fee type called "Members" and set up a
discounted fee schedule for them and still maintain the
regular fee schedule for all members who choose not to
enroll.
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Advanced algorithm to determine
fraudulent check
probability
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TeraCash™ employs a highly sophisticated mathematical
algorithm for determining the validity of each check
processed. Using an algorithm which takes into account
good and bad checks, number of checks accepted, length
of time of each check and a number of other variables, a
probability number is generated (between 0 and 100) as
to whether or not this check should be accepted. This
number serves as a reference to help you better
determine what risks you would like to take when
accepting checks.
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External Image
Scanning
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TeraCash™ offers you the ability to scan an external
document to aid you with the verification process. Some
examples of a document you may wish to scan are
identification card, drivers license, alien registration
card, social security card, or any other document that
may help you or your employees verify the identity of
your customer. If an external document has been scanned
for a particular customer, when that customer record is
pulled up in the transaction screen, the scanned image
will automatically appear at the top right of the screen
for quick and easy viewing.
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Corporate Check
Cashing
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For check cashers who cash check on a companies behalf.
For example, if an officer of ABC Corporation wants to
cash a check which has been made out to ABC Corporation,
TeraCash™ supports switching the customer mode from
Individual to Corporate. Therefore, your customer will
be ABC Corporation and the "Company" will change to the
officer of ABC Corporation who is cashing the check on
behalf of ABC Corporation.
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Automatic AND manual bad
check entry
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Checks that are returned for any number of reasons (such
as NSF, closed account) can be automatically entered
into the TeraCash™ system by either entering the check
information into the bad check screen or scanning the
check while in the bad check screen**
Once entered into the system, it will be assed and
appended to the calculation formula used to determine
the risk-based calculated number as described in the
fraudulent check probability section of this site.
Additionally, TeraCash™ provides a way to manually enter
in all of your existing bad checks to also be calculated
into the system. This includes any checks past or
present that you have prior to implementing the
TeraCash™ Check Cashing System.
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3" Receipt Printing / 8.5 x 11
Reporting
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With an optional receipt printer, TeraCash™ supports the
ability to print transaction receipts for your
customers. These receipts can be printed on 8.5"x11"
paper, but will only print to the width of 3 inches. All
other reports included are designed to be printed on
8.5"x11" paper natively. Custom reports are available
upon request and can be fitted to match any reasonable
size your printer will support.
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CheckGuard Service
ready (optional)
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For added protection against accepting bad checks, read
about our CheckGuard service. For more information
check out our
CheckGuard service page.
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Network Capable
(optional)
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Because TeraCash™ is built using state-of-the-art
technologies and world-class data engines, we can offer
a highly scalable network solution for even the largest
clients. TeraCash™ supports any type of network
configuration; peer-to-peer, local area (LAN) or even
wide area (WAN) networks can be easily configured and
utilized with minimal setup or knowledge of databases.
If you are looking for an advanced network solution for
your check cashing business, contact us directly for
more information and to determine which method will work
best for you!
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Picture
Recognition Module (optional)
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To assist you in validating that clients presenting
checks are really who they say they are, TeraCash™
offers picture recognition. Using your USB or digital
camera, you can take a snapshot of each new customer
during the registration period and store that in their
permanent file. Each time that customer presents a check
to you, their picture will pop up on your screen for
face recognition. For an added layer of recognition,
read about our newly added
Biometric
Fingerprint Recognition!
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Biometric
Fingerprint Recognition
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TeraCash™ now supports the
M2-S
fingerprint scanner. A biometric fingerprint reader
used for verifying the identity of your clients. This
eliminates the possibility of individuals cashing checks
which do not belong to them by associating a fingerprint
signature with each account. TeraCash™ stores a fingerprint signature
which aids in identifying an individual who wishes to
cash a check at your establishment. For more
information about Biometrics, or our partner, M2SYS, as well as learning about other software
available using Biometric technology, visit
http://www.m2sys.com. TeraCorp currently has plans
to begin incorporating this technology into more of our
product lines as well as developing new business
friendly applications designed specifically for this
technology. Biometrics technology is already on it's way
to becoming the technology standard for verification and
authentication and as always, we want to be first in
line to offer this latest technology to our clients at
the lowest prices and to it's fullest!
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Check 21 Integration
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Check 21 allows businesses or institutions receiving a
significant number of checks to instantly convert those
checks to Check 21 compliant bank exchangeable images.
This process reduces banking costs, eliminates the need
for lock box programs, accelerates cash flow and
provides an online archive of all images.
Prior to Check 21, only consumer to business checks
could be remotely scanned and settled electronically.
Federal Check 21 legislation enabled the deposit and
clearing of all types of paper checks -- including
business to business checks -- through electronic image
transfer. Payroll, corporate, commercial, treasury,
travelers and consumer checks can now be digitally
imaged, deposited and settled electronically without
making any trips to the bank.
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CTR Report
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The CTR (Currency Transaction) report is designed to be
printed and mailed to the US Treasury for any customer
who meets or exceeds a total transaction amount of
$10,000 within 24 hours time. This report is required
whether they cashed one check meeting that criteria, or
multiple checks. You do not have to keep track of this
using the TeraCash system. At the end of your day,
simply run this report, select the date you wish to run
it for and if any customers on that day match that
criteria, TeraCash will automatically print the report(s)
for those customers. If no customer meet that criteria,
a message will be displayed alerting you and no report(s)
will be printed.
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SAR Report
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The SAR (Suspicious Activity) report is designed to be
printed for any customer who you reasonably suspect may
be involved in illegal activity. This may include the
following: (as stated on the form itself)
1. Alters transaction to avoid completion of funds
transfer record or money transfer orders or traveler's
check record. ($3,000 or more)
2. Alters transaction to avoid filing a CTR report.
($3,000 or more)
3. Comes in frequently and purchases less than $3,000.
4. Changes spelling or arrangement of name.
5. Individual(s) using multiple or false identification
documents.
6. Two or more individuals using the same or similar
identification.
7. Two or more individuals working together.
8. Same individual(s) using multiple locations over a
short period of time.
9. Offers a bribe in the form of a tip or gratuity.
This report is usually specific to wire transfer and
money order companies but can also be applied to check
cashing companies as well.
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IRS Report
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In some cases, the IRS may request a listing of all
customers who have cashed over $10,000 worth of checks
in a given year. This is generally done by request, but
may differ in other states. Check with your local IRS
agent to see if and/or when this report may be
necessary.
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Integrated Help File
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TeraCash™ now offers a fully integrated help file. From
any screen you want help from, you can press the F1 key
on your keyboard and the associated help file will
appear giving you further instructions about that
screen.
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ABA Bank Data
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TeraCash™ now includes bank data from the American
Banking Association. This includes available names,
address and phone numbers. This data is separate from
TeraCash™ but includes an Import feature to add all of
the banks into your database. This data is updated
annually.
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Quicken and QuickBooks Integration
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Export your transaction data to a QuickBooks© IIF file or Quicken© QIF file for seamless import into your favorite accounting software.
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Image Storage of Returned Checks
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Stores returned check images as you flag them as bad for re-print or proof to provide law enforcement additional details for fraudulent check writers.
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Multiple Company Check Prevention
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Prevents you from cashing too many checks from the same company within the specified time frame. Good for preventing a group collaboration effort to cash fraudulent checks.
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Native Biometrics Integration
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Native biometrics integrates seamlessly into TeraCash without having to install additional client and/or server software to make fingerprint recognition faster and more reliable -- especially in a networked environment.
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FingerPrint Login to TeraCash
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Allows users of TeraCash to login to the system via their fingerprint versus typing in a username and password.
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On-Screen Tips of The Day
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Integrated "Tip-Of-The-Day" for quick tips and tricks on using your system while you are working with TeraCash.
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Multi-Purpose Deposit Slip Printing
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Print your deposit slips on 3" paper or 8.5" x 11" paper with the added ability to selectively choose which transactions you wish to print on the deposit slip.
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Charts and Graphs to Measure Business Performance
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Feature rich charts and graphs show how well your business and / or tellers are doing through a specified time frame. Such reports as Year-To-Date reports, Top 10 Customers, Top Tellers, and more!
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*
For a
complete digital imaging solution, ask us about
TeraDOX™.
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**
Requires a MICR check reader or scanner.
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