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What are the key stats I should know?

• The unbanked and underserved in 2006 represent 83.7 million people and $12.6 billion dollars in financial monetary exchange.
• Reports estimate that approximately 87% of a factory's/plant's workforce is unbanked or does not use a traditional financial institution.
• Approximately 92% of the unbanked in 2006 represents an immigrant or illegal immigrant.
  • The southeastern United States growth rate of Hispanics in the past 10 years is 400%, significantly larger than the national average of 14%, according to the US Census Bureau. It is the fastest growing demographic group in the United States, positioning this ethnic group as a potential dominant force in our society.
  • Companies such as Google and Home Depot have allocated millions of dollars to attract the Hispanic market, and television stations, radio stations, utility and telephonic companies, grocery stores, and magazines are also following this trend and targeting Latinos. Attending to this market has become standard practice at most corporations.
  • Crime rates for Hispanics are higher than average, partly because they are known for carrying large amounts of cash (their entire paycheck) and because they are less likely to report a crime for fear of deportation or for language barriers.
  • For more information in Spanish, see the En Espanol section of our website or call 1-888-567-1252 to speak to one of our Spanish specialists. This is an area of specialty for B2E and one where we have employed a dedicated team.
• Wiring of money is still viable, with $45 billion wired to another location in 2006. The need to easily transfer money from one source to another is a service that is still utilized.
• Fees for payroll services with a major provider, ADP, according to their annual report were reported at $7 billion, showing that companies around the US are paying huge amounts of money for payroll related services.
• 10.1 billion ATM transactions take place annually in the US, showing that people want instant accessibility to cash, fewer lines, and cash after hours. These same customers paid $17.98 billion in transaction fees in 2006.
• Employers are looking for new HR benefits to attract and retain key employees. As employees change jobs, employers are left with the cost to recruit and train new employees.

How does B2E fit into the picture?

B2E offers a safe, hassle-free way for employees to obtain cash, at the workplace. Employers have a low cost of entry and are able to pass these benefits to their employees, building loyalty and keeping productivity at its maximum. Payroll paperwork is significantly reduced and employee satisfaction goes up among your banked and unbanked employees. It is a convenient, affordable way for all to obtain cash. Transportation to a bank is not required and the onsite service can be scheduled by employers 24-7, even for your second and third shifts that may usually receive their paychecks when banks are closed. To schedule B2E at your site or for more information, visit our Mobile Payroll and Check Cashing Services section.

To learn more about the B2E services and how we serve the needs of the unbanked and the unbanked employers, see our sections on Payroll and Check Cashing Services, Mobile ATMs, and Pay Cards — or contact us.