Money Order Company

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&regulations/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

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&regulations/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
Colorado Office of Economic Development and International Trade (303) 892-3840 oedit.info@state.co.us
Colorado Office of Economic Development and International Trade (303) 892-3840 oedit.info@state.co.us
Colorado Office of Economic Development and International Trade (303) 892-3840 oedit.info@state.co.us
Colorado Office of Economic Development and International Trade (303) 892-3840 oedit.info@state.co.us