Money Service Business Notification Form

Summary

This is a JFSC notification form for money service businesses (MSBs) that qualify for an exemption from registration under Article 4 or Article 5 of the Financial Services (Money Service Business (Exemptions)) (Jersey) Order 2007. It is used instead of the full MSB application form where the business either has turnover below £300,000 for its last completed financial period (Article 4) or is already registered under the Banking Business (Jersey) Law 1991 (Article 5).

• Who must use it: Any person carrying on money service business (bureau de change, cheque cashing, money transmission, or transmitting/receiving funds by wire or other electronic means) who meets the Article 4 turnover exemption or the Article 5 banking registration exemption.
• When to submit: On commencing money service business activity; the JFSC does not require an annual re-notification and no fee is payable.
• Format requirements: Must be submitted in paper format together with supporting documents, either completed online and printed or printed blank and filled in black ink using block capitals.
• Completeness and signatures: All questions must be answered (or marked not applicable), signatures must be original, and the form must be signed by two duly authorised persons on behalf of the business.
• Declaration content: The business must confirm which exemption applies (turnover under £300,000, or registration under the Banking Business (Jersey) Law 1991) and declare the information is accurate and complete.

The JFSC retains a general right to request additional information or documentation to verify what is submitted, and completed forms must be sent to the Commission's Central Authorisations division.

Key obligations

• A money service business relying on the Article 4 or Article 5 exemption must complete and submit this notification form on commencing money service business activity
• The form must be submitted in paper format together with any supporting documents
• All questions on the form must be answered, or clearly marked as not applicable
• The form must be signed in original signature by two duly authorised persons on behalf of the money service business
• The business must accurately identify which exemption (Article 4 turnover exemption or Article 5 banking registration exemption) applies and declare the information given is accurate and complete
• The business must provide further information or documentation if requested by the JFSC to verify the notification

Applies to

money service businesses, bureau de change operators, cheque cashers, money transmission services, businesses transmitting or receiving funds by wire or electronic means

Deadlines

• on commencing money service business activity: The notification form should be completed and submitted when the business begins money service business activity; no annual re-notification is required