![]() ![]() Some check-cashing businesses offer other services, like auto registration and transfers, credit card cash advance, bill pay, wire transfers, photocopies, and prepaid phone cards. ![]() Landlord’s intent to lease letter, if you are not already leasing spaceīefore you start operating your check cashing company, make sure to check with your city’s business licenses, permits & tax department to ensure you’re covered on everything you need to submit for your currency exchange license.Proof of workers’ compensation insurance.Business entity documents (articles of incorporation, fictitious name statement).List of owners, partners, and stockholders, with work history and background checks.These will vary from state to state, but may include: There are several other things your state may require of you in addition to your currency exchange license application. If you’re involved in currency exchange, you need a license! What You Need to Know That’s true whether you’re cashing checks with physical cash or via direct deposit, as well as if you’re cashing checks in exchange for gift cards. For any business that provides check cashing services for a fee that is not a bank, this business license is a requirement by state and federal law. If you plan to start a business as a currency exchange company, also known as a check-cashing company, you will first need a currency exchange license. ![]()
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