Why do I send my PGW payments to Newark, NJ??
Just paying my bills and thought it was odd that the mailing address is in NJ. Anyone have any insight?
Perhaps somebody could indeed shed light on this.
Seems to me that jobs (and offices) right here in Philly are what's needed, not farming out processing to some remote location in another state.
The low bidders for processing checks are centered about the NYC area, where data can readily be linked to move the funds between your account and your provider's account. Many of these clearing houses are essentially converting your check to Electronic Funds Transfer, which AmEx has been doing since the last millenium.
If you ever see any version of your check again, even as one of many on a printout page, it's because you bank still is processing them and may or may not have a local operation. In the late '60's PNC had a major check clearing operation near Gimble Brothers. But those were the days when helocopters ferried checks from suburban depots to Center City.
This operation is not labor intensive, but it requires capital investment and a secure location. Analogous to outsourceing HR and payroll, PGW has outsources collection clearing.
Note one of the facet of the reduction in scope for the USPS is to consolidate their capital investment, a.k.a their processing Plants. One of their proposal is to end mail processing in Northern, NJ and ship to less costly plants in SNJ. PGW has done just that.
Yeah, pretty much. You aren't sending checks to PGW, you are sending it to their processing bank, who then sends that to PGW.
This is why is takes a couple of days to process it in their system...
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