Updated on August 10, 2017 by admin
Starting a check cashing business in Florida is a process that requires several steps that must be planned before filing for the license, and risking a loss of money and time.
The check cashing business in Florida is profitable but at the same time it is a risky business which must be minimized through the adoption of special measures and procedures.
It is important to obtain proper advice from experienced and qualified professionals to avoid expenses and delays to obtain a check cashing license.
Obtaining a check cashing license in Florida, also known as FT3 license, requires several steps:
The first step is to register with the federal government as a Money Service Business (MSB). This process is done electronically, and in order to file said registration any new applicant must set up an account with the US Treasury Department's Financial Crimes Enforcement Network, commonly known as FinCEN. The registration is done through form FinCEN 107.
Registration with FinCEN places the company under the Bank Secrecy Act (BSA) laws and regulations. Those regulations imposes several requirements on the company. One of those requirements is to develop and implement an Anti-Money Laundering (AML) program which must contain policies and procedures that the company will implement as part of their check cashing operation. Some companies tend to use AML programs devised for other type of financial services such as money order sales or money transfer services. However those programs are inadequate for check cashing and they do not meet the requirement of the BSA for a check cashing operation. Another requirement is to design a compliance officer. This person is liable to ensure that the AML program is being thoroughly implemented. There are other BSA requirements which must be met, and therefore the compliance officer and employees of the company must be aware of said regulations.
After the FinCEN registration has been confirmed, an application with the Florida Department of Financial Services, Office of Financial Regulation (OFR) must be filed. This application contains several parts, and must be filed electronically. As with the FinCEN registration, the applicant must set up an account with the OFR's Real System for thie purpose. It is extremely important that all information requested will be provided in a complete and accurate manner to avoid delays in the process. In our experience the vast majority of delays in obtaining such a license come from errors in the original application form. Several documents must be attached to the application, among which is the anti-money laundering program which must be previously drafted. Another form that must be submitted is a fingerprint card for each of the individuals included in the application, which will be used for a background verified by the Federal Bureau of Investigation.
Once the license is obtained it is important to keep present that the State of Florida has multiple requirements that must be met by check cashers. Also the check casher is subject to audit examinations to verify that the company is operating with the parameters …
Updated on August 4, 2017 by admin
The quickest ways to make money may not at all be what you think. You’re probably thinking about doing something such as mowing grass for the neighbors, raking leaves, and shoveling snow. Although these are great ways to make money in very little time, there are plenty of other ways as well.
First of all, what can you do? What are you good at? Think in terms of what you can do on a computer because, really, you want to be able to use your existing skills to do something from home. That’s everyone’s dream, right? Of course it is!
So check out Craigslist and some of the freelance job boards. Now, freelance job boards don’t consist of just freelance writing jobs. You will also find data entry and various clerical jobs. You may even find positions as a virtual assistant.
Basically, you can have the work done in a matter of days and have your money in your hand not long after that. It is rather quick. The quicker you do the work, the faster you’ll have the money. It is as simple as that. So don’t do the physical labor if you don’t have to. That’s unless you like it. If you like it, go for it.
Heck, you can mow the neighbor’s grass for $20 and then come home and do some freelance work for someone. You don’t have to do just one thing at a time. You can do several things to make the money that you need and you can make it quick. You can also have fun doing it.…
Updated on August 4, 2017 by admin
You are driving down the road when another driver runs a stop sign, hitting into the side of your vehicle. You check to see if the people in the other car okay, then call the police. While exchanging information with the other driver, you find out that they have the same car insurance carrier as you do, leading you to wonder: How do I file a claim if the other driver has the same insurer? Is the process any different than normal? If so, how?
Read below to find out the answers to these questions and advice on how to make sure you get fairly compensated.
How Insurance Companies Handle Accidents When Both Drivers are Customers
In an ideal situation, an insurance company would handle accidents between two of its’ customers the same way they should handle any other car accident: impartially and responsibly. However, this is not a perfect world, and insurance companies have been caught failing to provide adequate compensation to customers in the sake of their bottom line profit.
When a car accident occurs and both drivers have the same insurer, the insurance company must handle it carefully in order to avoid running into a “conflict of interest.” To do so, most insurance companies will issue each driver their own adjustor. The idea is that both adjustors will evaluate the claim and liability of the accident independently, and present their findings to each other once they have determined fault.
If both adjustors agree that one of the drivers is at fault, then the adjustor overseeing the at-fault driver will process the claim further and provide compensation to the other driver based on their insurance policy.
However, if there is a complication about liability, and both adjustors do not agree about who was at fault, then they will act as if they work for two separate companies to handle the claim. Two adjustors from the same company will never take legal action to determine fault, but rather come to an agreement amongst themselves.
Oftentimes insurance companies waive a customer’s deductible if they are involved in an accident with another customer in order to avoid the hassle of dealing with liability disagreements and a customer accusing them of acting in “bad faith” by making a decision that is not in either driver’s best interests.
When insurance company only issues one adjustor to handle both drivers’ claims, there is a high risk of a conflict of interest. If this happens to you, contact a car accident attorney immediately to make sure you receive fair compensation.
Advantages of Having the Same Insurance
As unfortunate as getting into an accident is in the first place, there are a few advantages when the other driver has the same insurer as you.
For one, speaking to a representative at your own insurance company is always much easier and less of a hassle than contacting an adjustor from another insurer. Since you are a paying customer, adjustors will tend to provide quicker service than if …
Updated on August 10, 2017 by admin
Spiraling debts can be a cause of concern for any borrower. They can create an adverse effect on the financial status of the borrower. Wondering how to deal with the troublesome situation? If you are facing financial hardship due to them, it is time to seek help. Debt management might be the solution to all your problems! Read on and find out how…
Know why should you seek this kind of service?
o One affordable monthly payment
o Reduced credit repayments
o The guide to a debt free future
The truth is that credit card debts are usually an outcome of unplanned spending and late repayments. They are the worst debts you would have encountered! You have a number of options to get rid of such problems.
When you opt for solutions with a team of financial experts, the professionals will assess your current financial situation and help you choose options on a spending plan. You can seek help from such experts. They will negotiate terms of your debts with creditors as well! In simple words, they will take care of all kinds of debt problems on your behalf.
There are several ways of managing this kind of problem. To start with, you could avoid credit card usage as much as possible or opt for consolidation finance as a part of the solution. You must begin by trying not to spend too much over your usual balance. This will help you ease your debt worries. Doing so, will ensure that you are on the road to a debt-free life sooner than you had imagined!
Managing payment of credit card bills can be one of the major contributing factors of managing such kind of problem. It saves a large chunk of your money with one single payment every month, well within your reach! It is much simpler to pay just one bill every month. Hence, if you are burdened by this kind of problem, you need not put yourself through any more stress! By following this kind of advice, you can manage your financial problems easily. You can also reach out to financial experts who can take care of your financial predicament.
You must consider these kinds of solutions only after a careful analysis of your personal circumstances and constraints! Make sure you make the company aware of your problems. This will only help arrive at a suitable solution.…