Answer:
Probably not. In December 2007, FinCEN issued FIN-2007-G006, "Application of the Definition of Money Services Business to Certain Owner-Operators of Automated Teller Machines Offering Limited Services." That guidance "concerns owner-operators of ATMs that offer customers of depository institutions no services other than remote access to those customers' accounts at those depository institutions for the purpose of making balance inquiries or currency withdrawals." Owner-operators of that sort of ATM would not be considered MSBs, according to the Guidance document.
However, if the ATM provides the ability for an individual to exchange currencies (insert U.S. dollars and receive euros, for example) without a daily $1,000 cap per individual), or if the individual can use the ATM to transfer funds to an account in a different depository institution, or transmit funds from the individual's account to a third party, the owner-operator of the ATM would be considered a currency exchanger or a funds transmitter and an MSB. Read the Guidance carefully and check the services offered at the ATMs in question.
First published on BankersOnline.com 6/02/08
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