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Money Transmitters Overview

A money transmitter is a business that helps a person to send or receive money within the United States or abroad, typically by means of a wire transfer, money order, or stored value card. Money transmitters must have a license to operate and are regulated by the Office of the Commissioner of Banks.

Notices

Consumer Alert on Virtual Currencies

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04/02/20

North Carolina General Statute § 53-208.53(a) under the Money Transmitters Act requires licensees to submit an annual report no later than 90 days after the end of the calendar year, which would be March 31, 2020

North Carolina General Statute § 53-208.53(b) under the Money Transmitters Act requires licensees to submit quarterly call reports through NMLS no later than 60 days after the calendar quarter has ended, which for the 1st quarter would be May 31, 2020.

Due to the COVID-19 pandemic, the Commissioner of Banks has granted a 30-day extension to file these reports, April 30, 2020 for the annual report and June 30, 2020 for the MSBCR .  If a licensee cannot meet the extended due dates, they should contact Lisa Johnson at ljohnson@nccob.gov.



02/03/20

The NMLS Policy Committee has approved an extension to file the fourth quarter Money Services Businesses Call Report (MSBCR). The new due date for the fourth quarter MSBCR is March 31, 2020.

While NMLS has approved this extension, North Carolina General Statute § 53-208.53(b) under the Money Transmitters Act requires licensees to submit quarterly call reports through NMLS no later than 60 days after the calendar quarter has ended, which would be February 29, 2020.

 If a licensee cannot meet the February 29, 2020 deadline, they should send a written request for an extension to Lisa Johnson at ljohnson@nccob.gov.



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