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#2012136 - 05/05/15 05:14 PM MSBs and CDD and prpd cards
Trees Offline
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Joined: Apr 2005
Posts: 4,013
We've developed and used the few questions we want to ask to determine if a customer is an MSB.

We are wondering what you are asking with regards to prepaid cards?

We were thinking: Do you sell or plan to sell pre-paid cards?
Thoughts?

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#2012160 - 05/05/15 06:03 PM Re: MSBs and CDD and prpd cards Trees
Infernalflora Offline
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Infernalflora
Joined: Dec 2014
Posts: 8
California
We have a two page profile sheet we use to gather various information for non-consumer accounts, and it is filled out by the signer at account opening. On the form is a "Business Activities" section where we ask for details. The question we use is "Do you provide any of the following services as part of your normal business operations?" Below the question are various check boxes for MSB activites that the customer can mark off as applicable. "Issue/Sell/Redeem Stored Value, Gift, or Phone Cards" is one such box.

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#2012164 - 05/05/15 06:10 PM Re: MSBs and CDD and prpd cards Trees
Trees Offline
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Joined: Apr 2005
Posts: 4,013
Thanks helps. Thanks,

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#2015500 - 05/21/15 06:09 PM Re: MSBs and CDD and prpd cards Trees
Sunshine Offline
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Joined: Sep 2013
Posts: 18
Infernalflora, would you be willing to share your profile sheet? I'm in the process of developing one for my bank to use.

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#2015588 - 05/21/15 08:50 PM Re: MSBs and CDD and prpd cards Trees
CantBeShocked Offline
Gold Star
Joined: Apr 2006
Posts: 260
MS
But if they are an agent for a phone card company, then they are not the MSB - the company is, right? Just like wire transfers...
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