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Sellers-Issuers of Payment Instruments

The Check Seller license is now called Seller-Issuer of Payment Instruments (SPI).  This license is for an individual or company that engages in the business of selling or issuing payment instruments.  Payment instruments include any instrument or order, or device for the payment or transmission of money or monetary value, whether or not it is a negotiable instrument under the terms of Article 3 of Title 11, relating to negotiable instruments.   The term includes, but is not limited to, checks, money orders, drafts, stored value cards, and open-loop transactions.  The term does not include closed-loop transactions, credit card vouchers, letters of credit, or any instrument that is redeemable by the issuer only in specific goods or services of the issuer.

This license allows the company or individual to engage in money transmission without obtaining a separate money transmitter license.


Add Money Service Businesses Licensee Transition to NMLS to your Calendar (ics)
Tue, 09/02/2014 - 8:00am to Wed, 12/31/2014 - 12:00am

The Department of Banking and Finance will begin using the Nationwide Multistate Licensing System (NMLS)* on September 2, 2014, to manage its Money Service Business (MSB) licensees.

Existing MSB licensees will renew their Georgia license by creating and submitting a record in NMLS for the company, the owners of the company and all (check casher) branch locations to transition their existing Georgia license onto NMLS.  All transition requests should be made between September 2 and December 1 through NMLS to avoid a late fee.  Transition requests made between December 2 and December 31 will be assessed a 0 late fee in addition to your annual license fee. Any licensee that fails to request transition through the NMLS by December 31 will expire.

Information will be posted on the NMLS Georgia State Licensing Requirements page on September 2nd.


Frequently Asked Questions (FAQs) for Existing MSB Licensees:

 

*NMLS is a secure web-based system created by state regulators to provide efficiencies in the processing of state licenses and to improve supervision of state-regulated industries.

 



Information for New Seller-Issuer of Payment Instruments Applicants
Forms for Existing Seller-Issuer of Payment Instruments Licensees
Print My Seller-Issuer of Payment Instruments License Certificate
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MSB Newsletter
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