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 State Licensing Requirements

 
Company Licenses Description Requirements Checklist
Currency Exchange License Any person who engages in currency exchange or advertises, solicits, or holds themselves out as providing currency exchange for which the person receives revenues equal to or greater than five percent of total revenues. Currency exchange means receipt of revenues from the exchange of one government for money of another government. Statutory References: South Carolina Anti-Money Laundering Act § 35-11-300 (A) (1-4) and § 35-11-105(6) Code of Laws of South Carolina, 1976.
Money Transmitter License This license is required for any company or person engaging in the business of money transmission or advertising, soliciting, or holding itself out as providing money transmission. Money transmission means selling or issuing payment instruments, stored value or receiving money or monetary value for transmission. Money transmission does not include the provision solely of delivery, online or telecommunications services, or network access. Statutory References: South Carolina Anti-Money Laundering Act § 35-11-200 (A) (1-3) and § 35-11-105(12) Code of Laws of South Carolina, 1976.
Branch Licenses Description Requirements Checklist
Individual Licenses Description Requirements Checklist
 

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