Monday January 25, 2021

 

   
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Paper Check Facts

Un-banked Americans spend roughly $8 billion a year in cashing checks and other financial services.

Four million payroll checks are lost or stolen each year.

The chance of having a problem with a check is 20 times greater than with direct deposit.

Check fraud is a national epidemic costing nearly $20 billion annually.  No company, municipality or financial institution is immune.

 

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LibertyOne Financial Solutions, LP.
All rights reserved.

The LibertyOne STAR®/Pulse®

Introducing the LibertyOne® Card

The instant-issue LibertyOne® Card is now available as a Visa/M/C: branded stored-value (or prepaid) card.  The Card is issued with a Personal Identification Number (PIN) that enables the Cardholder to access cash at Automated Teller Machines (ATMs) and to pay for purchases at millions of merchants. The LibertyOne Card is NOT a credit card.  ATM cash withdrawals and point of sale (POS) purchases are limited to the balance of funds stored on the Card. 

LibertyOne Card In the Prison Institution

Electronic Disbursements

In the prison institution, the LibertyOne Card replaces the costly and labor-intensive paper check disbursements currently used to distribute inmate release funds with a highly efficient, low cost and secure electronic solution.  With the LibertyOne Card, the process of disbursing inmate release payments is reduced to a few keystrokes and the physical issuance of a LibertyOne Card to the inmate at the time of release.  The activities associated with issuing paper checks, including check preparation, printing, distribution, account reconciliation, cash disbursements and exception handling are either eliminated or drastically reduced.  The benefits and savings are significant, immediate and ongoing. (A Benefits Summary is provided on the following page).

For the Inmate

For an individual just released from prison, the LibertyOne Card provides the financial services and tools offenders need to function and succeed in today's society.  The first and most obvious advantage of the LibertyOne Card is the ease at which the offender/Cardholder can access their cash upon release.  Rather than spending countless hours, or possibly even days, trying to cash a paper check, Cardholders can stop at the nearest Automated Teller Machine (ATM) and withdraw their cash and/or they can use their Card to pay for purchases at millions of merchants displaying the STAR® or PULSE® brand.

For offender's released to community supervision, the benefits of the LibertyOne Card, for both the offender and community corrections, are just beginning.  These benefits are explained in the Community Corrections section of this Website.   

Added Security Plus a Savings & Budgeting Tool

Unlike a paper check, which must be cashed for the full amount, the LibertyOne Card allows the offender to withdraw only the cash needed at the time, leaving the balance of their funds safely stored on the card.  In addition to safe storage, keeping money on the Card rather than in cash can be an effective budgeting and savings tool.

The LibertyOne Card is also the Offender's Payroll Card

When used for payroll direct deposit, offenders avoid standing in long lines at check cashing windows, paying high check cashing fees and carrying large amounts of cash.  Instead, the offender's net wages are electronically loaded to their LibertyOne Card and are available for withdrawal or spending on payday.  Cardholders can also request cash back when using their Card at the point of sale.  The end result is a safer, more convenient and less costly method of receiving wages.

 

 

Paper Disbursements

Benefits Summary