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Money Transmitters and Currency Exchangers

If you intend to conduct money transmission business in Washington, you must apply for a Money Transmitter license.

A Money Transmitter license also permits operation of a currency exchange business. If you intend to operate only a currency exchange business, you should complete the Currency Exchange license materials below.

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Spring 2013 Newsletter
The Division of Consumer Services Spring 2013 newsletter is now available.

Spring 2013 Newsletter
2012 Annual Assessment Report Due Monday July 1, 2013
The 2012 Annual Assessment Report (AAR), supporting documents, and assessment fees must be received by DFI by 5:00 p.m. (PST) July 1, 2013.

Annual Assessment Report - Print Only PDF
Annual Assessment Report - Fillable PDF

Note: There is a minimum $1,000.00 assessment fee due each year; even if you conducted no business in Washington State.
Authorized Delegates - Interpretive Statement 2012-01
DFI has issued an Interpretative Statement addressing marketing and advertising practices by authorized delegates.

Interpretive Statement 2012-01 (PDF)*
DFI Mandates New System August 15, 2012 for Reporting Authorized Delegates
On April 12, 2012 the new Money Transmitter and Currency Exchange Online E-Commerce Authorized Delegate website went live. This online system gives Money Transmitters and Currency Exchangers a new way to report their authorized delegate additions, deletions, changes, and allows them to submit payment electronically. DFI’s authorized delegate system is for all Money Transmitter and Currency Exchange licensees.

Effective August 15, 2012 DFI will require the use of the DFI Online E-Commerce system for all companies that have 10 or more authorized delegates.

E-Commerce Authorized Delegate Website System
FAQs About the New System
2011 Annual Assessment and Report Due July 2, 2012
The 2011 Annual Assessment Report (AAR), supporting documents, and assessment fees must be received by DFI by 5:00 p.m. (PST) July 2, 2012.

Annual Assessment Report Print Only (PDF)
Or: Annual Assessment Report Fillable (PDF)
Third Party Account Administrators (TPAA) Must License Under Uniform Money Services Act
The provisions of Engrossed Senate Billl 6155 become effective June 7, 2012. Third party account administrators (TPAAs) must follow specific requirements when working with debt adjusters. TPAAs must also be licensed as money transmitters.

Information for Third Party Account Administrators
Licensing Fees Clarification Table
A key element to a successful application submission is submitting the correct fees. A shortage of fees can create a delay in processing. View our table summarizing the fees.

Licensing Fees Summary
Average Daily Transmission Liability (ADTL) Model Form and Model Permissible Investments (PI) Worksheet
Amendments to chapter 19.230 RCW, the Uniform Money Services Act (the UMSA) that became effective June 10, 2010, at RCW 19.230.170(1)(c) and RCW 19.230.200 (1) now require Money Transmitter licensees to maintain monthly reports about permissible investments and to ensure Average Daily Transmission Liability is never greater than permissible investments. The Department of Financial Institutions has developed this Average Daily Transmission Liability (ADTL) model form to enable you to calculate your ADTL to meet this requirement.

ADTL Model Form (Excel)***
Model Permissible Investments Worksheet (Fillable PDF)*

Examinations Information

Examination information, frequently asked questions, and resources for Washington Money Transmitters.

Money Transmitters Examinations Information

Applications, Reports, and Forms

Form	PDF	Word	Excel
Money Transmitter Annual Assessment Forms 2012	Print Only PDF or Fillable PDF
Washington Money Services License Application	See: Apply for a License
Money Services License Amendment Application	PDF	Word	N/A
Money Services Individual Background Form	PDF	Word	N/A
Average Daily Transmission Liability (ADTL) Model Form	N/A	N/A	Excel
Permissible Investments Worksheet	Fillable PDF	N/A	N/A
Money Services Annual Assessment Report 2011	Print Only PDF or Fillable PDF
Money Services Surety Bond Form	PDF	Fillable Word	N/A
Money Services Assignment of Account or Time Deposit	PDF	N/A	N/A
Currency Exchanger Quarterly Report Form	PDF	N/A	N/A
Money Transmitter Quarterly Report Form	PDF	Fillable Word	N/A
Money Transmitter Office Closure/License Surrender Form	PDF	N/A	N/A
Money Services Annual Assessment Report 2009	N/A	Fillable Word	N/A

Interpretive Statements

Authorized Delegates - Interpretive Statement 2012-01
DFI has issued an Interpretative Statement addressing marketing and advertising practices by authorized delegates.

Interpretive Statement 2012-01 (PDF)*

Alerts

Money Transmitter Alert #04-1 (PDF)*
Washington’s Uniform Money Services Act requires money transmitter licensees to provide DFI with copies of all reports required by federal currency reporting, record keeping, and suspicious transaction reporting requirements, and other federal and state laws pertaining to money laundering.

Laws and Rules

Applicants and licensees are expected to be knowledgeable about and in compliance with Chapter 19.230, Revised Code of Washington (RCW) and Chapter 208-690 of the Washington Administrative Code (WAC) adopted to implement the law, and any other applicable state or federal statutes and regulations.

Chapter 19.230 RCW - Uniform Money Services Act

Chapter 208-690 WAC - Regulation of Money Services Providers

Newsletters

* This document is a PDF file, and you will need Adobe Acrobat Reader to view it. If you don't already have Acrobat Reader installed on your computer, you may download it for free from Adobe.

** This document is a Microsoft Word file, and you will need Microsoft Word to view it. If you do not have Microsoft Word installed on your machine, you can download the free Microsoft Word Viewer.

*** This document is a Microsoft Excel file, and you will need Microsoft Excel or Excel to open it.

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