NCCOB
NCCOB

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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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07/27/21

!ATTENTION REQUIRED!

 

North Carolina’s Assumed Business Name Act (ACT) has changed.  Any certificate of assumed named registered BEFORE December 1, 2017, will expire on December 1, 2022.  If you desire to continue using an assumed name, you must register a new Certificate of Assumed Name and pay the $26 fee BEFORE the expiration date.  Once expired, the assumed name cannot be used until a new certificate is filed in accordance with NCGS, Chapter 66, Article 14A. Click the link above for a fillable version of the certificate. 

For more information, click this link to review the full statute (NCGS, Chapter 66, Article 14A).  The NC Secretary of State’s office is responsible for implementing the new registry of assumed names.  The following link provides information and frequently asked questions about the ACT: NC Secretary of State - Assumed Business Names

If you have questions, please contact Business Link North Carolina at blnc@edpnc.com or 800-228-8443.



01/20/21

The NMLS Policy Committee has approved an extension to file the fourth quarter Money Services Businesses Call Report (MSBCR). The due date for the fourth quarter MSBCR is March 31, 2021.

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 is March 1, 2021.

If a licensee cannot meet the March 1, 2021 deadline, they should send a written request for an extension to Lisa Johnson at ljohnson@nccob.gov.



01/14/21

Licensees that operate in North Carolina through authorized delegates should ensure the following:

  • If written agreements reference state law, the correct reference should be Article 16B of the North Carolina General Statutes
  • The certificate of authority posted at each authorized delegate location should read as follows: "Money transmission on behalf of (Licensee’s Name) is conducted at this location pursuant to the North Carolina Money Transmitters Act, N.C.G.S. § 53-208.41 et seq."
  • Receipts issued to North Carolina customers should reference the toll-free telephone number for the NCCOB, 1-800-874-9791, or the direct line, 1-919-733-3016.


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.



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