Although no official announcement from the company has been made, it looks as if check cashing giant Pay-O-Matic has ceased operations after 50 years in business and the future of over 100 locations across the five boroughs, including 37 across The Bronx remains uncertain.

A website announcement by NYC Department of Financial Services (DFS) in mid-September read, “On Sept. 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 agreement, while Pay-O-Matic and Western Union work through a potential acquisition.”

Norwood News reached out to DFS to find out if Pay-O-Matic’s suspension had to do with filing for bankruptcy or some other issue. We were informed the information sought

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