A Business Cashing Customer's Checks

Question:

Are there any Regulations concerning accounts customers have where they cash checks for their customers. For example, [name of supermarket withheld] will cash a check for a customer. Any help would be useful.

Answer:

This business could easily qualify as a Money Service Business (MSB) if they are cashing checks totaling $1000 for one customer in one business day. Refer to http://www.msb.gov as well as the BSA forum for discussions on MSB's.

First published on BankersOnline.com 12/03/07