Money Transmission

The Department regulates money transmitters pursuant to O.C.G.A. § 7-1-680 through 7-1-698.[1]  A “money transmitter” means a person licensed by the Department to transmit money.  'Money transmission,' 'transmit money,' or 'transmission of money' means engaging in the business of: (A) Receiving receiving money or monetary value for transmission or transmitting money or monetary value within the United States or to locations abroad by any and all means, including, but not limited to, an to: (i) An order; order, (ii) A wire; wire, (iii) A facsimile; facsimile, or and (iv) An electronic transfer; (B) Selling or issuing payment instruments, including the creation, issuance, or sale of a payment instrument that is redeemable in cash or monetary value; and (C) Payroll processing services.  Such term shall not include closed-loop transactions.  O.C.G.A. § 7-1-680(14) and (15). 

It is important to note that these definitions include some forms of virtual currency transactions.  Therefore, some providers of virtual currency services must be licensed with the Department to provide services to Georgia consumers.  For more information about virtual currency, please visit   “Virtual Currency.”

Money transmitters must be licensed by the Department in order to offer such services to Georgia consumers unless the entity qualifies for one of the limited exemptions listed in O.C.G.A. § 7-1-682.  The Department utilizes the Nationwide Multistate Licensing System (“NMLS”) to license and manage money transmitters.   Consumers can verify that money transmitters are authorized to operate in Georgia by checking NMLS Consumer Access, available at: www.nmlsconsumeraccess.com.

If you believe that you have conducted business with an entity conducting money transmission in Georgia who is not listed as a licensed entity through NMLS Consumer Access, please report such entity to [email protected].

If you have had an issue with a licensed money transmitter in Georgia, you should attempt to resolve the issue directly with the business.  If you are unable to resolve the issue directly with the entity, you may wish to file a complaint with the Consumer Financial Protection Bureau (“CFPB”).  For more information about the CFPB complaint process, please visit: https://www.consumerfinance.gov/complaint/.

The Department is not authorized to resolve disputes between consumers and businesses.  However, the Department does use information provided by consumers in its regulatory process.  If you wish to report an issue to the Department, please send a detailed email and supporting documentation to [email protected].

For more information on how the Department regulates money transmitters, please visit “Money Service Businesses.”

[1] To access these laws or any part of the Georgia Code, please visit the Georgia General Assembly and type in the relevant Code Section (e.g., “7-1-680”) into the provided search bar. (Links off-site)

The Code is provided by the State of Georgia from the Georgia General Assembly's website. In viewing the Code, please be aware that legislation passed during the most recent legislative session may not yet be posted on LexisNexis.