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Business Licensing Database
MONEY ORDER COMPANY

MONEY ORDER MONEY ORDER COMPANY

State

Colorado Department of Regulatory Agencies
Division of Banking
1560 Broadway #975
Denver , CO   80202
(303)894-7575
Fax: (303)894-7570


A surety bond of $250,000 is permissible provided that, following an application by the licensee and an opportunity hearing before the banking board, it is proved that the provisions of Rule MO-2 Permissible Investments are met. License application requires detailed financial information.

Link: http://www.dora.state.co.us/banking/rules&regulations/moneyordertransmitter
/mo1.pdf
 

The applicant or licensee shall pay to the banking board a license fee in the amount set by the banking board.

Link:http://www.dora.state.co.us/banking/rules&regulations/moneyordertransmitter/
mo4.pdf

 
 

Federal


U.S. Department of the Treasury
1500 Pennsylvania Ave, NW
Washington DC 20220
(703)905-3591

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.fincen.gov/financial_institutions/msb/
NOTE:  If you are the Agent (OUTLET) for a licensee, you do NOT need to be licensed. However, see CHECK CASHING SERVICE if applicable

page last updated 3/23/10

The Colorado Revised Statutes are available on line at http://www.state.co.us/gov_dir/leg_dir/olls/colorado_revised_statutes.htm. You can locate a statute of interest by searching either on the citation given in the database (e.g., 18-5-307) or on a keyword or phrase.

 

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