Starting a check cashing business in Florida is a process that requires several steps that must be planned before filing for the license, and risking a loss of money and time.
The check cashing business in Florida is profitable but at the same time it is a risky business which must be minimized through the adoption of special measures and procedures.
It is important to obtain proper advice from experienced and qualified professionals to avoid expenses and delays to obtain a check cashing license.
Obtaining a check cashing license in Florida, known also as an FT3 license, requires several steps:
The first step is to register with the federal government as a Money Service Business (MSB). This process is done electronically, and in order to file said registration any new applicant must set up an account with the U.S. Treasury Department’s Financial Crimes Enforcement Network, commonly known as FinCEN. The … Read More