Money Services Businesses

FT2: Money Services Business, PART II

Money Transmitter
This license authorizes the holder to transmit funds, either by wire, facsimile, electronic transfer, courier or otherwise, within this country or to or from locations outside this country.

Payment Instrument Issuer
This license authorizes the holder to sell or issue checks, drafts, warrants, money orders, traveler's checks or other instruments, or to advertise such activity, for consideration.

FT3: Money Services Business, PART III

Check Casher
This license authorizes the holder to sell currency in exchange for payment instruments received, except for traveler's checks and foreign-drawn payment instruments, for compensation.

Foreign Currency Exchanger
This license authorizes the holder to exchange currency of the U.S. or a foreign government to currency of another government, for compensation.

Notice

All funds transmitters, payment instrument issuers, check cashers, foreign currency exchangers. You are required to maintain a federal registration as a Money Services Business (MSB) and comply with federal recordkeeping and reporting requirements. For additional information, click on the following links:

Gramm-Leach-Bliley Act

MSB.gov

MSB Federal Registration Form

MSB Federal Statutes and Regulations

Bank Secrecy Act (BSA) Recordkeeping and Reporting Requirements

Deferred Presentment Provider

A person who engages in a deferred presentment transaction and is registered under part II or part III of the code and has filed a declaration of intent with the department. For details go to the web page for Deferred Presentment Providers.