The Official Web Site of the State of South Carolina

On May 26, 2023, the South Carolina Legislature passed the following regulations:

         15-66. Check Cashing – Use of the Nationwide Multistate Licensing System.

         15-67. Check Cashing – Required Records and Retention Period.

         15-68. Check Cashing – Other Consideration.

Please review the regulations in chapter 15 online in the South Carolina Code of State Regulations.

 

 

Deferred Presentment

A person may not engage in the business of deferred presentment services without first obtaining a license pursuant to Deferred Presentment Act Title 34 Chapter 39.  A separate license is required for each location from which the business is conducted. 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.

Deferred Presentment providers are required to enter consumer information into the South Carolina Deferred Presentment Database (Veritec Solutions, LLC) to determine consumer eligibility, enter new transactions and close transactions as set forth in Title 34 Section 39. Upon licensure, the licensee must contact Veritec Solutions, LLC at 1-888-723-7701 or via email at mail@veritec.com for registration and required training.

South Carolina Deferred Presentment Database