Money Transmitters and Currency Exchangers
If you intend to conduct money transmission business in Washington, you must apply for a Money Transmitter license.
A Money Transmitter license also permits operation of a currency exchange business. If you intend to operate only a currency exchange business, you should complete the Currency Exchange license materials below.
Featured Information
-
Exchange Facilitators Survey
Engrossed Second Substitute House Bill 1078 (Chapter 70, Laws of 2009) requires exchange facilitators operating in Washington to provide certain information to the Department of Financial Institutions (DFI) about their activities during the calendar year 2009.
Learn More & Take The Survey
-
CSBS-MTRA Joint Comment Letter To FinCEN
The Conference of State Bank Supervisors (CSBS) and the Money Transmitter Regulators Association (MTRA) have issued a joint comment letter in response to FinCEN’s Notice of Proposed Rulemaking to the Definitions and other Regulations relating to Money Services Businesses.
CSBS and MTRA are supportive of FinCEN’s proposed amendments as the proposals will provide additional clarification in the Bank Secrecy Act regulations relating to Money Services Businesses. Additionally, the Notice solicits comments on future stored value related regulations. The agencies have provided comments and suggestions for consideration in the stored value rulemaking process in the joint comment letter.
View Comment Letter (PDF)*
-
2008 Money Services Business Annual Assessment Report
Due July 1, 2009. 2008 Annual Assessment Report (PDF)*.
-
Money Services ListServ
Subscribe to the money services ListServ.
-
Financial Institutions That Handle Money Transmitter Accounts
If you are a money transmitter and your financial institution cancelled your business account, DFI's new list of financial institutions that handle money transmitter business accounts may help.
Examinations Information
Examination information, frequently asked questions, and resources for Washington Money Transmitters.
Applications and Forms
| Form | Word | |
| Washington Money Services License Application | Word | |
| Money Services License Amendment Application | Word | |
| Money Services Individual Background Form | Word | |
| Money Services Authorized Delegate Form | Word | |
| Money Services Annual Assessment Report 2008 | N/A | |
| Money Services Annual Assessment Report 2007 | N/A | |
| Money Services Annual Assessment Report 2006 | N/A | |
| Money Services Annual Assessment Report 2005 | N/A | |
| Money Services Annual Assessment Report 2004 | N/A | |
| Money Services Surety Bond Form | Word | |
| Money Services Assignment of Account or Time Deposit | N/A | |
| Currency Exchanger Quarterly Report Form | N/A | |
| Currency Exchanger Annual Assessment Report | N/A | |
| Currency Exchanger Office Closure/License Surrender Form | N/A | |
| Money Transmitter Quarterly Report Form | Word | |
| Money Transmitter Annual Assessment Report | N/A | |
| Money Transmitter Office Closure/License Surrender Form | N/A |
Laws and Rules
Applicants and licensees are expected to be knowledgeable about and in compliance with Chapter 19.230, Revised Code of Washington (RCW) and Chapter 208-690 of the Washington Administrative Code (WAC) adopted to implement the law, and any other applicable state or federal statutes and regulations.
Chapter 19.230 RCW - Uniform Money Services ActChapter 208-690 WAC - Regulation of Money Services Providers
* This document is a PDF file, and you will need Adobe Acrobat Reader to view it. If you don't already have Acrobat Reader installed on your computer, you may download it for free from Adobe.
[Top]
