Money Service Businesses (MSBs)

Money Service Businesses or MSBs are bureaux de change, money transmitters and third party cheque cashers

Important information - If you have not yet applied to re-register your business with HMRC, please see our Registration Summary for an important update.

As a Money Service Business you need to:

  • put anti money laundering systems in place so that you can identify and prevent money laundering and report any suspicious transactions
  • register with us, including completing a fit and proper test application
  • pay an annual fee based on the number of premises through which you trade
  • report changes during the registration year.

Full information about registration including the fit and proper test and who it applies to can be found in MLR 9: Guide to Registration (Money Laundering Regulations 2007) (PDF 1MB)

To help you register you can find our forms with guidance notes explaining how to complete them in our forms section. Please ensure you complete your forms carefully and accurately before signing the declaration. We recommend you check your forms carefully before sending them to us, as any errors or missing information may cause a delay in processing your application.

Money Transmitters

Money Transmitters also need to follow guidance on EU Payment Regulations 2007 and the Transfer of Funds Regulations.

Help and guidance

We have produced a guide to the prevention of money laundering and terrorist financing which contains information on the anti money laundering controls you will need to put in place.

MSB Newsletters

Financial sanctions

The UK imposes asset freezing on certain persons and organisations, primarily to prevent the diversion of funds to terrorism and terrorist purposes. It is a criminal offence to deal with the funds of a person or organisation named on the sanctions list. A list of all sanctions currently in force in the UK is maintained by HM Treasury Asset Freezing Unit.