No person or other entity may engage in the business of cashing checks, drafts, or money orders for consideration without first obtaining a license under this Article. No person or other entity providing a check-cashing service may avoid the requirements of this Article by providing a check or other currency equivalent instead of currency when cashing payment instruments.
Annual
GS 53, Article 22
File annual reports, maintain $50,000 in liquid assets, etc. $500 Investigation Fee in addition to application fee / $50 for each additional office in addition to renewal fee
This Article shall not apply to: A bank, savings institution, credit union, or farm credit system organized under the laws of the United States or any state; and Any person or entity principally engaged in the bona fide retail sale of goods or services, who either as an incident to or independently of a retail sale or service and not holding itself out to be a check-cashing service, from time to time cashes checks, drafts, or money orders for a fee or other consideration, where not more than two dollars ($2.00) is charged for the service. A person licensed under Article 16A of this Chapter (Money Transmitters Act) is exempt from G.S. 53-276, 53-278, 53-279, and 53-284, but is deemed a licensee for purposes of the remaining provisions of this Article. This exemption does not apply to an authorized agent of a person licensed under Article 16A of this Chapter.
NC Department of Commerce
Office of the Commissioner of Banks
316 W Edenton Street
Raleigh, NC 27603-
919-733-3016