Do money-transmission laws apply to gift-giving businesses that distribute cash gifts?
Payments
Asked by Question Bot08/Sep/20131 answer
1 Answer
F
Faisal Khan
Answered 08/Sep/2013
In my opinion, for the US, yes, this would come under the umbrella of Store-Value cards, with a redeemable Cash element, so this is something that is regulated by MSB.
An easier way is to write to the DFI in your State as ask them the same.
An easier way is to write to the DFI in your State as ask them the same.