CheckAlt and SPARE Partner to Deliver An Innovative Solution for the Unbanked

Share Article

At least 8.4 million American households were unbanked as of 2017, according to the FDIC.

Recognizing the unbanked as among the most challenged during these unprecedented times, CheckAlt and SPARE have come together to develop an innovative solution enabling the millions of Americans without bank accounts to remotely deposit checks and retrieve cash from a network of banks and merchants.

CheckAlt, the premier independent check processing and treasury management provider in the U.S., will process remotely deposited checks captured using the SPARE mobile application. SPARE’s users can leverage a virtual ATM network of banks and merchants to retrieve cash that can be used to make critical payments.

"I am excited to take the lead on such a great opportunity through this challenging time and facilitate the creation of a solution that can be so beneficial for millions of people across the country,” said CheckAlt’s Jordan Beder.

SPARE’s mission is to empower those not served by traditional financial services. “The global pandemic has created an economic circumstance that will leave many in low-income communities financially debilitated,” said SPARE CEO D’ontra Hughes. “It is our duty as an organization focused on the unbanked to ensure that we are providing access to some of the most basic services for our users in the unbanked community."

For interviews, please contact CheckAlt’s Managing Director of Communications Tiffany Rider at trider@checkalt.com.

About CheckAlt

In the past 10 years, CheckAlt has become the leading provider of check payment processing solutions for hundreds of financial institutions across the country. As both bank agnostic and demographic agnostic, CheckAlt is uniquely positioned for payments convergence. It has been our focus to process check payments while also eliminating paper from the system with robust electronic payment APIs. CheckAlt’s solutions include lockbox processing across a nationwide hub-and-spoke network of processing sites, consolidated item processing, integrated treasury solutions, and mobile capture services. CheckAlt is headquartered in Los Angeles, Calif.

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Tiffany Rider
CheckAlt
+1 (310) 663-7062
Email >
@CheckAlt
Follow >
CheckAlt
Like >
Visit website