Skip to content
BOL Conferences
Forums · Active Threads · Forum Rules · Mark All Read · Log In
BankersOnline.com Forums Banker Forums BSA/AML/CIP/OFAC Forum Agent Issuer Vs. Redeemer of Money Orders
Thread Options
#2042321 - 10/02/15 08:52 PM Agent Issuer Vs. Redeemer of Money Orders
BSA_AML Hoosier Offline
New Poster
Joined: Jun 2012
Posts: 17
Midwest
If a customer is an agent for an MSB (i.e. Western Union), which is registered as the following:

409 - Money Transmitter
404 - Issuer of Money Orders
405 - Seller of Money Orders
413 - Seller of Prepaid Access
414 - Provider of Prepaid Access

.... is the agent allowed to redeem money orders issued by the MSB company in excess of $1,000.00 per person, per day?

Return to Top
BSA/AML/CIP/OFAC Forum
#2042380 - 10/04/15 06:58 PM Re: Agent Issuer Vs. Redeemer of Money Orders BSA_AML Hoosier
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,396
Galveston, TX
No, that would make them a check casher.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top

Moderator:  Andy_Z