Georgia State-Chartered Banks and Credit Unions Closure Procedures
In light of recent inquiries related to COVID-19, the Department would like to remind all Georgia State-Chartered Banks and Credit Unions of emergency closing notification procedures. Georgia Banks and Credit Unions Closure Procedures
Information for New Check Casher Applicants
Entities Exempt from Licensing Requirements:
- Any state or federally chartered bank, trust company, credit union, savings and loan association, or savings bank with deposits that are federally insured;
- The United States Postal Service;
- A state or federal governmental department, agency, authority, or instrumentality and its agents;
- Any foreign bank that establishes a federal branch pursuant to the International Bank Act, 12 U.S.C. Section 3102;
- Any person who accepts a payment instrument from a person in exchange for monetary value but does not charge a fee; or
- An individual employed by a licensee or any person exempted from the licensing requirements of this article when acting within the scope of employment and under the supervision of the licensee or exempted person as an employee and not as an independent contractor.
File a new application through the Nationwide Multistate Licensing System (NMLS):
The Department uses the Nationwide Multistate Licensing System (NMLS) to manage all Georgia Check Casher licensees. All applications and changes to a Georgia Check Casher license must be made through the NMLS.
Steps to Apply for a Georgia Check Casher License:
- Review the Instructions and Requirements and prepare all items listed on the New Application Checklist - If you do not have the items listed on the application checklist before applying, the processing of your application will be delayed and you risk your application being withdrawn as abandoned.
- Apply for a Georgia Check Casher License through the NMLS.
- Complete and submit your application through the NMLS, including paying the application and licensing fees. Additionally, if you are going to apply for branches in Georgia, you should apply for those at the same time as well. The Georgia branch checklist and instructions can be found here: https://mortgage.nationwidelicensingsystem.org/slr/PublishedStateDocuments/GA-Check-Casher-Location-Branch-New-App-Checklist.pdf.
Please DO NOT enter branches that are not physically located within the State of Georgia into the NMLS. Out-of-state branches do not require the Department’s approval and SHOULD NOT be entered into NMLS.
- State Licensing Requirements and Checklists
- To gain access to the Nationwide Multistate Licensing System (NMLS), please visit Getting Started
- As of 9/12/2016, criminal history background checks on MU2 individuals should be authorized and submitted through the NMLS.
Processing times can vary depending on the workload of the Department, the completeness of the application, the complexity of the application, and other factors such as renewals. Applications are worked in the order received, but submitting a complete application per the Department’s instructions and checklist on NMLS, will generally produce a quicker turnaround. Processing times for complete applications are generally 4-6 weeks from the time the Department begins its review.
What could prevent my check casher application from being approved?
Bad credit will make your application very difficult to approve. At the very least, you must settle charged-off accounts, judgments and outstanding tax liens. Those who are delinquent on child support payments must remedy this problem before they can be licensed. If you have collection accounts, you must provide proof that you have setup a payment plan and have made at least one payment.
Applicants with a felony conviction who have not been PARDONED (not just paroled), or who have not sought and obtained/documented the remedies provided for in O.C.G.A. Section 7-1-703(b), cannot be approved. The Department verifies the criminal background of each applicant for a check cashing license or registration. It is very important to provide honest answers in the application. Omissions regarding arrests are deemed to be a serious falsification of the application and can lead to denial regardless of the nature or outcome of the arrest.