ECSH44410 | Money service businesses: currency exchange and money transmission machines

Identifying currency exchange and money transmission machines

In the course of dealing with an application you may identify that a money service business (MSB) appears to be operating from a premises that it has not included in its registration. This address may be a currency exchange and/or money transmission machine (CE/MT machine).

This may be identified through:

• Open-source checks e.g., looking at business website, or on receipt of information from the business.

• Contact from the business to query whether a CE/MT machine needs to be included to its registration.

Decision maker action

Where additional premises are identified, you should contact the business to advise that these addresses may need to be included in its registration. You can either contact the business by issuing a secure communication or via email and advise it to:

• Include the additional premises in its registration or,

• present it with an opportunity to advise why it does not think that theadditional premises should be registered.

Where the business contacts HMRC to query whether a CE/MT machine needs to be included in its registration details, you should refer the business to the guidance in ECSH44125 and ask it to confirm where the machine is located.

Location of CE/MT Machines

Machines located in retail premises:

Where the business confirms that the CE/MT machine exists within a retail premises which it has already included in its registration details, you should inform the business that the CE/MT machine does not need to be included as a separate premises in its registration at this time, based on the information it has provided.

Machines located on their own:

Where the business confirms that the CE/MT machine is not located within a premises included in its registration, you should inform the business that it isrequired to add this as an additional premises to its registration and pay the relevant fee.

Multiple machines at one address:

Where the business confirms that multiple CE/MT machines will be located at the same address, you should inform the business that it only needs to include one machine as a premises in its registration.

If the business disagrees

If the business does not agree that the additional premises needs to be added to its registration, you should first discuss the case with your manager.

(This content has been withheld because of exemptions in the Freedom of Information Act 2000)