Florida Office of Financial Regulation Florida OFR Home Page
Division of Consumer Finance

Check Cashing Database

The 2013 Florida Legislature passed House Bill 217 which requires check cashers to log check cashing data into a statewide database.

The legislation requires licensed check cashers to enter information in to the database before cashing any check in excess of $1,000.  In addition to the check amount, each licensee is required to submit transaction information, including transaction date, payor name, payee name, conductor name if different from payee, amount of payment instrument, type of payment instrument, location where payment instrument was accepted, fee charged, type of identification presented, and identification number presented by the payee or conductor. For corporate payment instruments the check casher is required to enter the payee’s workers’ compensation insurance policy number, corporate document identification number issued by the Department of State, Division of Corporations, and the payee’s Federal Employer Identification Number (FEIN). 

The Office of Financial Regulation (OFR) has contracted with Veritec Solutions, LLC, (Veritec) to design, implement, and administer the check cashing database. After October 1, 2015, licensees are required to enter information on all payment instruments greater than $1,000.00 in to the database.

Frequently Asked Questions

General

What type of information am I required to enter into the database?

Each licensee is required to submit transaction information, including transaction date, payor name, payee name, conductor name if different from payee, amount of payment instrument, type of payment instrument, location where payment instrument was accepted, fee charged, type of identification presented, and identification number presented by the payee or conductor. For corporate payment instruments, the check casher is required to enter the payee’s workers’ compensation insurance policy number, corporate document identification number issued by the Department of State and the payee's Federal Employer Identification Number (FEIN).

Which payment instruments am I required to enter into the database?

Chapter 560, F.S., requires licensed check cashers to enter all payment instruments in excess of $1,000 into the check cashing database. Multiple payment instruments accepted from any one person on any given day in excess of $1,000 must be aggregated and entered in the check cashing database.

How do I access the database?

If you held an FT2 or FT3 license prior to September 3, 2015, and advised the OFR you plan to cash checks, you should have already received your login information from Veritec. If you are an applicant and your application indicates you plan to cash checks, you should receive your login information from Veritec once your license is approved. If you need further assistance obtaining a login or logging into the check cashing database, please call 1-844-FLCCDBS (1-844-352-2327).

Are there any fees for the check cashing database?

No. Neither licensees nor consumers are charged for using the check cashing database.

Can I see payment instruments entered by other licensees, and can they see mine? 

No, the database only allows you to see transactions entered into the database by your company.

Recording Transactions into the Database

How soon must I submit the transaction into the database?

Section 560.310, F.S., requires licensees to submit the information to the check cashing database before entering into each transaction. Please see FAQs regarding aggregate transactions for related information.

What date do I record for the transaction date when recording a payment instrument?

The date you must enter is the date the transaction occurred, regardless of the date the payment instrument information is entered into the system or the date written on the payment instrument.

What if the payee does not have a Workers’ Compensation number or is exempt?

First, verify through the Division of Workers’ Compensation website that the payee does not have a Workers’ Compensation number. If the payee has a Workers’ Compensation number, you are required to enter it into the database. If not, leave the field blank.

Can I enter the payment instruments at the end of the day?

No, Section 560.310, F.S., requires licensees to submit the information to the check cashing database before entering into each transaction. Please see FAQs regarding aggregate transactions for related information.

Can I cash payment instruments if the system is not available?

The licensee may continue cashing checks and must submit the transactions into the database within 24 hours of database availability. If the database is unavailable for more than 24 hours, then the period for submission shall be extended by 24 hours for each additional 24-hour period of unavailability.

What if I’m out of power or the internet connection goes down?

The licensee may continue cashing checks and must submit the transactions into the database within 24 hours of database availability. If the database is unavailable for more than 24 hours, then the period for submission shall be extended by 24 hours for each additional 24-hour period of unavailability.

Must I enter the Workers’ Compensation number for a payroll check?

No, section 560.103(10), F.S., defines a corporate payment instrument on which the payee named is anything other than a natural person. For corporate payment instruments, licensees must comply with the requirements including the submission of the Workers' Compensation number.

Can the database save an image of a scanned payment instrument?

No.

Where can I find the Payee’s FEIN?

The FEIN can sometimes be found on the Department of State’s website (sunbiz.org) or you can request the FEIN from the payee. Rule 69V-560.704(4)(d), F.A.C., requires that you create and maintain a customer file that includes this information for entities listed as the payee on payment instruments you cash.

If the payee is a sole proprietor, should the SSN be entered in the FEIN field?

No, do not enter in Social Security Numbers (SSN) into the database. If the sole proprietor does not have a FEIN, leave the field blank.

How do you record a payment instrument if there are two payees listed?

The information entered into the system must be exactly as shown on the payment instrument. Therefore, if there are two payees, you would enter both payee names under the payee field. You would also enter both conductor names and conductor IDs in their respective field.

If the payment instrument bounces, should the transaction be voided?

No, if the payment instrument is cashed, it must be entered and remain in the database even if returned for NSF.

If the payee is a business that is out of state, should we still enter in their Workers’ Compensation number and Corporate Document number from their state?

You would still create and maintain a customer file based on Florida information, including looking up the Florida Workers’ Compensation policy even when the payee is located out of the state. You will only enter the Florida information if available.

Can we use abbreviations when entering information into the database? Payor name, payee name, etc.

The information must be entered exactly as written on the payment instrument.

Do I record a payment instrument based on the amount provided to the conductor or the face amount of the payment instrument?

The face amount of the payment instrument.

What if a replacement payment instrument is provided for a bounced payment instrument, would the 2nd payment instrument have to be recorded in the database?

The only time a transaction is recorded into the database is when money was exchanged. Because there was no money exchanged between the conductor and the licensee when the second check was received, you would not record the second transaction. The "check cashing" activity was already recorded at the time of the initial transaction.

What do I enter if the Payee listed is “Cash?”

The payee should be listed exactly as shown on the payment instrument. Be sure to list the conductor name appropriately.

Do I still keep my electronic log?

The check cashing database is replacing the electronic log; however, you must still keep the electronic log containg your previous transactions for 5 years.

 

Aggregate Transactions

How soon must I submit aggregate transactions that exceed $1,000 per person per day in to the database?

No more than two business days following the date on which the aggregate transactions occurred.

How will we know if the same person came into our stores and cashed payment instruments totaling over $1,000?

You have two business days to identify and record aggregate transactions into the database. You must keep internal records or utilize a POS to assist you in identifying those transactions to be aggregated.

Do you aggregate payment instruments if cashed within 24 hours or calendar day?

Aggregating transactions is based on a calendar day.

Do we aggregate based on the payee or conductor? 

The aggregation is based on the payee, not the conductor.

Is the conductor ID and type required when aggregating transactions where each individual payment instrument is less than $1,000?

No, section 560.310 (2)(b), F.S., lists the acceptable identification for payment instruments over $1,000. This requirement is only for each payment instruments over $1,000. Therefore, you will select ‘Other’ for the conductor ID and enter ‘n/a’ for the ID description.

Is a thumbprint required when aggregating transactions where each payment instrument is less than $1,000?

A thumbprint is only required for payment instruments over $1,000. If the payment instrument is less than $1,000, a thumbprint is not required.

 

Statutes/Rules

When must payment instruments be entered if we run a mobile check cashing unit?

Section 560.310, F.S., requires licensees to submit the information to the check cashing database before entering into each transaction.

Will I still be required to submit quarterly reports through the REAL System?

Yes, quarterly reports must still be filed through the Office’s REAL System.

Do we still need to keep a copy of the payment instrument with the thumbprint and ID?

Yes, you will still need to obtain a thumbprint on the original payment instrument and maintain a copy of the front and back of the payment instrument.

 

POS

What if I have a Point of Sale (POS) System?

The check cashing database is accessible via the internet or can interfaced with a licensee’s Point of Sale (POS) Systems. You may contact Veritec's support team at mail@Veritecs.com for a list of POS software companies whose software currently interfaces with the database or for more information about integrating the database with your internal system.

We use a 3rd party to assist with check cashing transactions, can we batch submit the transactions the following day?

Section 560.310, F.S., requires licensees to submit the information to the check cashing database before entering into each transaction.