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ITG FAQ #1 Answer-When do money orders fall under Title 31?

An issuer of money orders (other than a person who does not issue such money orders in an amount greater than $1000 in currency or monetary or other instruments to any person on any day in one or more transactions) is a type of money services business, which is regulated by Title 31.

A seller or redeemer of money orders (other than a person who does not sell or redeem such money orders in an amount greater than $1000 in currency or monetary or other instruments to any person on any day in one or more transactions) is defined as a money services business.

See FAQs regarding Identification of Money Services Businesses and Registration of Money Services Businesses.

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Page Last Reviewed or Updated: 11-Oct-2016