Equitex Buys Chex Services

Equitex Inc., a direct marketer of financial services products, said Monday that it had completed the purchase of Chex Services Inc.

Financial terms of the acquisition were not disclosed.

Chex Services operates financial service centers at casinos to allow patrons to access cash through check cashing, credit and debit card advances, automated teller machine and wire transfers. The Minnetonka, MN-based firm also collects demographic data about casino patrons for use in marketing efforts.

Englewood, CO-based Equitex is a holding company that operates through its subsidiaries Nova Financial Systems and Key Financial Systems. The subsidiaries market credit card products through direct mail and telemarketing offers as well as print media.

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