Question 1

I just got a letter from the IRS about a BSA examination with a list of findings. What should I do?

Accepted Answer

Don’t panic—this is something we handle all the time. The IRS is reviewing how your business follows federal rules to prevent money laundering. The letter may list areas where your compliance program falls short. We can review the findings, explain what they mean, and help you fix the issues quickly. We’ll work with you to respond properly and make sure your compliance program is up to standard moving forward.

Question 2

What’s an independent review, and do I need one?

Accepted Answer

An independent review is like a checkup for your compliance program. It’s generally required at least once a year and must be done by someone outside your business. We perform these reviews and give you a clear report with practical steps for improvement.

Question 3

Do I really need a license to cash checks?

Accepted Answer

Yes. In most states, you must be licensed to legally cash checks for the public. Without a license, you could face serious fines or even legal action. We can guide you through the state and federal licensing process from start to finish.

Question 4

My bank is asking for my policies and procedures, risk assessment, independent review, and some other forms. Can you help me before they close my account?

Accepted Answer

Yes, we can help—and quickly. Banks are getting stricter about working with check cashers and often ask for detailed compliance documentation. If you don’t respond in time, they may shut down your account. We’ll work with you to gather or create everything your bank is asking for, including your written compliance program, risk assessment, and independent review. We can also help you complete the forms and communicate directly with the bank if needed. Don’t wait—reach out as soon as you get the request.

Question 5

Can you help me upgrade my compliance program if I already have one?

Accepted Answer

Definitely. If you already have a program but aren’t sure if it’s strong enough—or if it hasn’t been updated in a while—we can review it, spot any weaknesses, and help you bring it up to date.

Question 6

What is a Money Services Business (MSB), and do I need to register as one?

Accepted Answer

If you cash checks or offer other financial services, your business may be considered an MSB. That means you must register with the federal government through FinCEN. We can help you figure out if registration applies to you and take care of the paperwork if it does.

Question 7

I’m a small business—do I really need all this?

Accepted Answer

Yes. Compliance rules apply to all check cashers, no matter how small. In fact, smaller businesses are often audited just as much as larger ones. We make it easy for small business owners to stay compliant without feeling overwhelmed.

Question 8

I don’t know where to start with compliance—can you help?

Accepted Answer

Absolutely. Whether you’re just getting started or you’ve been in business for years, we’ll meet you where you are. We can help with licensing, compliance manuals, training, software, and more. Think of us as your one-stop shop for check cashing compliance.

Question 9

How often do I need compliance training for my staff?

Accepted Answer

At a minimum, training should happen once a year for all employees—and before new team members start working. Regular training helps protect your business and ensures your team understands their responsibilities. We offer both online courses and printed manuals to make this easy.

Question 10

What’s included in your software package?

Accepted Answer

Our check cashing software can be customized for your business. We offer the software itself, free updates, basic tech support, and full hardware setup—including a computer, check scanner, webcam, fingerprint reader, and receipt printer. Everything you need to get started is included.

Frequently asked questions