Bronxites Left in Lurch as Check Cashing Chain Goes Under

A young man who normally opens the door for customers at the Pay-O-Matic on East Gun Hill Road for spare change was found sleeping in front of the location after the check cashing giant was temporarily closed on September 16. -Photo by David Greene

By David Greene 

Bronx Voice 

October 10, 2025

BRONX - Longtime customers of check cashing giant Pay-O-Matic and its hundreds of employees in the Bronx remain in limbo after Pay-O-Matic announced that they have ceased operations. Money transfer giant Western Union has confirmed that they are in negotiations to acquire the business.

On September 16, a notice was observed in the window of its location at 11 East Gun Hill Road that read in part, “After more than 50 years of service to your communities, all Pay-O-Matic check cashing store locations are closed as of September 12.”

In an undated posting on the New York City Department of Financial Services website, stated, “Notice regarding Pay-O-Matic.” The notice continued, “On September 13, the Department suspended Pay-O-Matic’s license after it ceased operations. The Department has lifted that suspension and approved reopening locations under this arrangement, while Pay-O-Matic and Western Union work through a potential acquisition.”

According to their website Pay-O-Matic was the largest provider of check cashing and financial services in the New York City area with over 100 locations across the city and 37 locations in the Bronx. The Bronx Voice reached out to the Syosset, NY-based company, when a representative declined to comment.

As the branch at 1908 Cross Bronx Expressway Service Road in Parkchester was reopened on Thursday, September 25, an employee was asked about the reason for the recent closure, she replied, “There’s nothing I can tell you because I don’t know myself.”

The employee, who would mark her 16th year with the company in November was told that maybe an agreement could be reached between Pay-O-Matic and Western Union, she replied, “I hope so too.”

On September 27, outside the same Pay-O-Matic along the Cross Bronx Expressway Service Road, one customer explained, “I went to put money on my Power Card, and the system was down. The only thing you can do now is cash checks or send money.”

On October 5, a Western Union spokesperson stated, “Western Union is coordinating with Pay-O-Matic to re-open its stores while working through a potential acquisition to make Pay-O-Matic a permanent part of the Western Union family.”

The spokesperson continued, “This ensures the continuation of Pay-O-Matic’s 50-year legacy serving its customers and communities. We look forward to welcoming customers back to Pay-O-Matic stores and providing the same level of service they’ve come to know and trust.”