Keywords:
Money Order
Money Order Company
| State |
Colorado Department of Regulatory Agencies
Division of Banking
1560 Broadway #1175
Denver , CO 80202
(303)894-7575
Fax: (303)894-7570 |
| Corporate security bond required:
One million dollars for 1st sale outlet; this can be reduced under certain circumstances. Bond must be on file with this agency.
Link: http://www.dora.state.co.us/banking/rules®ulations/moneyordert
ransmitter/morulepkg.doc
|
| License application requires:
name; address; statement of good moral character and business experience; place and date of incorporation; indication if more than one branch, with addresses; additional data, financial statements and other pertinent; information as the Board may require.
|
| License fees:
$7,500 first year (if in first 6 months of the calendar year) $3,750 first year (if in last 6 months of the calendar year) $2,000 annual renewal
|
| 12-52-101 through 116, C.R.S. |
|
| Federal |
U.S. Department of the Treasury
FinCEN Division
Vienna , VA 22183
(800)800-2877 |
| The federal Bank Secrecy Act (BSA) requires certain money services businesses (MSBs) to register with the U.S. Department of the Treasury. These businesses are also required to prepare and maintain a list of agents. |
| The term “money services business” (MSB) includes any person doing business, whether or not on a regular basis or as an organized business concern, in one or more of the following capacities and meeting certain business thresholds:
• Check casher
• Currency dealing or exchange
• Issuer of traveler’s checks, money orders or stored value
• Seller or redeemer of traveler’s checks, money orders or stored value
• Money transmitter
Link: http://www.msb.gov/
|
|
| NOTE: If you are the Agent (OUTLET) for a licensee, you do NOT need to be licensed. However, see CHECK CASHING SERVICE if applicable |
Wednesday, July 18, 2012 – 18:48 pm
