Regina Check Cashing Corporation

What Regina Check Cashing Corporation does

Regina Check Cashing Corporation, doing business as Regina Financial Services, is a privately-held, New York-based retail financial services company founded in 1974. The company operates 10 storefront locations across New York State (including Albany, Schenectady, Syracuse, Utica, Yonkers, and Newburgh) plus an additional site in Stamford, Connecticut. It is licensed and supervised by the New York Superintendent of Banks pursuant to Article 9-A of the Banking Law.

Regina's core product is check cashing — covering payroll, government, personal, insurance, and commercial checks — and the business is built around a transaction-fee model applied across an unusually broad set of retail financial services. Beyond check cashing, locations offer money orders, Western Union money transfers (at select branches), direct deposits, utility and bill payments (including phone, cable, and NYC Housing Authority), EBT-enabled government benefits processing, prepaid/debit/phone cards, and ATM services. Transportation services (bus passes, MetroCards, EZPass transponders except in Connecticut) and basic business support (copies, fax, postage) round out the in-store offering. An on-site payroll distribution service extends the model into a B2B context, bringing payroll check cashing directly to employer work sites.

The go-to-market motion is exclusively direct-to-consumer through physical retail, with no mobile app, no online transactional product, and no disclosed digital channel. Revenue is generated per transaction across the service menu; pricing is not publicly disclosed and customers are directed to visit locations or contact corporate headquarters for fee information. The customer base is split between individual consumers (primary) — typically unbanked or underbanked customers seeking fast, lower-cost alternatives to traditional banks — and small-to-medium businesses using corporate check cashing and on-site payroll. The firm is founder/family-owned based on its 1974 vintage and the absence of any external investor references; no funding rounds, acquisitions, or leadership changes are documented in the source material.

Name

Regina Check Cashing Corporation

Legal name

Regina Check Cashing Corporation

Website

https://reginacheckcashing.com

Company type

Private

Founded year

1974

Operating status

Operating

Headcount range

1–10 employees

Short description

Regina Check Cashing Corporation (DBA Regina Financial Services) operates 10 retail storefronts across New York and Stamford, Connecticut, offering check cashing, money orders, bill payments, Western Union transfers, transportation passes, and on-site payroll services to individual consumers and small businesses under an NY Banking Law Article 9-A license.

Ownership category

akta.pro rank

Product category

Check Cashing & Retail Financial Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Accounting, Tax Preparation, Bookkeeping, and Payroll Services (54121)

SIC

Finance Services (6199)

akta.pro primary industry

Check Cashing with Deferred Presentment (FSAKAMAL)

akta.pro secondary industries

Cash & Coin Processing / Cash Centers (FSAMAOAF), Bill Pay, Invoicing & Payables Platforms (BPAMAFAF)

Keywords

• Check cashing services
• Money transfer services
• Bill payment services
• Transportation pass sales
• On-site payroll services

Headquarters

HQ city

West Nyack

HQ country

United States

HQ region

North America

Offices8 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Check Cashing Services: Transaction-based fees charged for cashing payroll, government, personal, insurance, and commercial checks. Revenue generated per transaction with low fees structure.
2. Financial Services: Revenue from money orders, bill payments (utility, phone, cable), direct deposit services, and EBT transactions. Transaction fees for each service.
3. Transportation Services: Sale of transportation cards, bus passes, Metrocards, and EZPass transponders with transaction fees.
4. On-site Payroll Services: Cost-effective payroll distribution service provided at business work sites. Employers pay for this employee benefit service.
5. Western Union Services: Money transfer services through Western Union partnership at select locations, generating transaction fees.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels1 record

Core offering

Regina Check Cashing Corporation operates a network of 10 retail storefront locations across New York State (plus a Stamford, Connecticut branch) that provide low-cost check cashing for payroll, government, personal, insurance, and commercial checks. The locations also sell money orders, process Western Union money transfers, accept direct deposits, pay utility/bill payments, handle EBT government benefits, and sell transportation products such as Metrocards, bus passes, and EZPass transponders. Corporate check cashing, prepaid/debit cards, ATM access, copies, fax, postage, and on-site employer payroll distribution round out the offering.

Product overview

Regina Check Cashing Corporation operates a network of 10 financial services locations across New York and Connecticut, offering a unified suite of check cashing and financial services. The core offering centers on check cashing (payroll, government, personal, insurance, and commercial checks), supplemented by money orders, money transfers (including Western Union), direct deposits, bill payments, government benefits services (EBT), and ATM access. The company also provides transportation services through sale of EZPass, Metrocards, and bus passes. Business services include corporate check cashing, copies, fax, and postage. An add-on module is On-site Payroll Services, which brings payroll distribution directly to employer worksites as an employee benefit.

Differentiator

Problem solved

Functional benefit

Products and services

• Check Cashing
• Money Orders
• Money Transfer / Sending Money
• Direct Deposit Services
• Utility and Bill Payments
• Government Benefits (EBT)
• Transportation Cards and Passes
• Corporate Check Cashing
• Business Support Services
• Prepaid and Debit Cards
• ATM Services
• On-site Payroll Services

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Western UnionminorChannel Partner/ Reseller/ DistributorWestern Union money transfer services are available at select Regina Check Cashing locations, such as the Newburgh branch (Regina 8). This partnership allows Regina to offer international and domestic money transfer services to its customers through the Western Union network.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Money Mart: Check cashing, money transfer, and short-term lending retailer with US and Canadian locations. Directly comparable service offering and customer base to Regina's check cashing and financial services business.
• Payomatic: Multi-location check cashing and financial services retailer concentrated in the New York metro area. Highly comparable regional peer with overlapping service offerings and direct competition in Regina's core geography.
• PLS Financial Services: Operates a large network of check cashing and financial services stores, primarily in urban and underserved US markets. Closely comparable retail distribution model and service mix including check cashing, money transfer, and bill payment.
• Check Into Cash: National check cashing and payday lending chain with storefronts across multiple US states. Comparable multi-service retail financial services model targeting underbanked consumers.
• ACE Cash Express: One of the largest US check cashing and short-term consumer financial services chains with hundreds of retail locations. Directly comparable multi-service storefront model serving underbanked consumers with check cashing, money orders, bill pay, and prepaid cards.
• Check 'n Go: National chain offering check cashing, payday loans, and prepaid debit cards in physical retail locations. Directly comparable multi-service retail financial services model targeting similar customer profiles.

Broad incumbents

• MoneyGram: Global money transfer and payment services company offering walk-in retail cash services. Comparable on the money order and money transfer products Regina offers, though operates much more broadly as a payments network.
• Western Union: Global money transfer incumbent that operates as both a direct brand and an agent network (Regina is itself a Western Union agent). Comparable on the money transfer and bill payment product lines, but operates at vastly larger scale and across geographies.

Emerging players

• Ria Money Transfer: International money transfer service that distributes through agent locations, frequently co-located with check cashers. Adjacent competitor and potential partner in the same retail cash services channel.

Regional players

• Currency Exchange International: Multi-service retail currency exchange and check cashing operator with storefronts primarily in the US Midwest and East Coast. Comparable multi-service retail model with overlap in bill payment and check cashing products.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/regina-check-cashing-none

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Regina Check Cashing Corporation