No person or other entity may engage in the business of either Level I or Level II check-cashing service without first obtaining a license pursuant to Check Cashing Services Title 34 Chapter 41. No person or other entity providing a Level I or Level II check-cashing service may avoid the requirements of this chapter by providing a check or other currency equivalent instead of currency when cashing payment instruments.
Level I
Level I check-cashing service means any person or entity engaged in the business of cashing checks, drafts, or money orders for a fee, service charge or other consideration.
Level II
Level II check-cashing service means any person or entity engaged in the business of cashing checks, drafts, or money orders for a fee, service charge, or other consideration; however, a Level II licensee may not be licensed to engage in the business of deferred presentment.
This chapter shall not apply to:
- A bank, savings institution, credit union, or farm credit system organized under the laws of the United States or any state; and
- Any person or entity principally engaged in the bona fide retail sale of goods or services, who either as an incident to or independently of a retail sale or service and not holding itself out to be a Level I or Level II check-cashing service, from time to time cashes checks, drafts, or money orders without a fee or other consideration.
Complete a record in Nationwide Multi-State Licensing System (NMLS) and submit it to the Consumer Finance Division for approval. Any company wishing to apply for a license must do so through NMLS. Check Cashing Level I and Level II licenses are issued and regulated pursuant to Title 34 Chapter 41.
Policy Statement on Other Consideration (PDF)
New Recordkeeping Guidance for Check Cashers (PDF)
Important Notice for Check Cashers (PDF)