Money-Services Business Licence Application
Any person or entity that wants to operate a money-services business (MSB) for payment must hold a licence under the Money-Services Businesses Act (MSBA). To get the licence, the business must file form SM-3-V, Money-Services Business Licence Application. The form should be completed by the MSB's respondent.
Whether or not an MSB is given a licence depends on the conclusions of the security clearance reports the MSB must get for itself and for each person associated with it. These reports are issued by the Surêté du Québec and sent to Revenu Québec.
A licence is required for each of the following money services (one application should be filed to apply for a licence for multiple money services):
- currency exchange;
- funds transfer;
- the issue or redemption of traveller's cheques, money orders or bank drafts;
- cheque cashing;
- the operation of automated teller machines (ATMs).
The lessor of a commercial space intended as a location for an ATM must be licensed if they are responsible for keeping the machine supplied with cash.
For help completing form SM-3-V, see the Licence Application Details page.