Thanks rlcarey. I guess what I'm trying to get at are listed (below). Per FinCEN the definition of Money Services Businesses:
The term "money services business" 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:
(1) Currency dealer or exchanger.
(2) Check casher.
(3) Issuer of traveler's checks, money orders or stored value.
(4) Seller or redeemer of traveler's checks, money orders or stored value.
(5) Money transmitter.
(6) U.S. Postal Service.
An activity threshold of greater than $1,000 per person per day in one or more transactions applies to the definitions of: currency dealer or exchanger; check casher; issuer of traveler's checks, money orders or stored value; and seller or redeemer of travelers' checks, money orders or stored value. The threshold applies separately to each activity -- if the threshold is not met for the specific activity, the person engaged in that activity is not an MSB on the basis of that activity.
No activity threshold applies to the definition of money transmitter. Thus, a person who engages as a business in the transfer of funds is an MSB as a money transmitter, regardless of the amount of money transmission activity. (I take this to mean the actual business (like Western Union - so an agent of Western Union is not an MSB).
1. If they are under the $1,000 threshold for all but Money transmitter, are these businesses even MSBs?
2. If they are - we can't call them MSBs so we need to call them something else.
3. Or do we even need to keep track of these customers if they don't meet the definition of MSB?