PAYOMATIC is New York's largest check-cashing and financial services provider with nearly 140 stores across NYC and surrounding areas, offering check cashing, money transfers, bill pay, and prepaid cards.
Data compiled from public sources · Rating from CreditDoc methodology
PAYOMATIC operates as a neighborhood financial services chain primarily serving the New York metropolitan area, including the Bronx, Brooklyn, Manhattan, Queens, and Long Island. The company has built its reputation on providing accessible check-cashing services and related financial products to underbanked consumers and business owners who need quick cash access without traditional banking requirements.
The company offers a comprehensive suite of services including standard check cashing (payroll, government, tax checks), business check cashing with competitive rates and same-day payouts, Western Union money transfers to over 200 countries, money orders, bill payment services (over 100 companies supported including utilities and credit cards), the inPOWER prepaid Mastercard with mobile app access, prepaid mobile top-ups, and direct deposit services. Their business check-cashing service specifically targets small business owners needing immediate access to funds for supplies, payroll, and operational expenses.
PAYOMATIC distinguishes itself through its extensive store network (nearly 140-150 locations across NYC), positioning as the largest Western Union agent in New York, and offering same-day large payouts for business checks. They emphasize quick processing with no holding periods on standard checks, extended store hours (8 AM-10 PM Friday, 10 AM-6 PM daily minimum), and a branded prepaid card product (inPOWER) exclusive to their stores. The mobile app provides 24/7 account access for cardholders.
As a check-cashing service, PAYOMATIC serves a legitimate financial function for unbanked and underbanked populations but does not disclose fee structures on their website. While they offer faster cash access than banks and competitive rates for business checks, consumers should understand that check-cashing fees vary and may be higher than traditional bank deposits. The company is best suited for those who need immediate cash access and those operating small businesses requiring quick check liquidation.
Yes. PAYOMATIC is a registered company, headquartered in New York, NY.
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CreditDoc Diagnosis
PAYOMATIC is best for NYC-area residents and small business owners who need immediate cash access without a bank account or who require same-day business check payouts. The main caveat is that check-cashing fees are not disclosed on their website, and consumers should expect to pay fees significantly higher than bank check deposits, making traditional banking a cheaper option if available.
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