Money Services

A money service business (MSB) is a non-bank entity providing ways for people to make payments or to obtain currency or cash in exchange for payment instruments by any means through a financial agency or institution. MSBs come in many forms, ranging from payment companies to electronic money transfer companies, from individuals and startups to major global enterprises. They can include currency dealers or payday lenders, a payment app on your phone or an office down the road – essentially, the term can apply across physical buildings and the internet. But MSBs are not banks and do not take deposits.