I am a business owner of a place where we advertise "Pay all your bills here". We want to know if we need any special permit from the bank to be able to cash checks?
Your state laws are the first place to look. There may be restrictions imposed at this level. Next, ask your bank. They are interested in the business you conduct and depending on your volumes and limits, you could be considered a "Money Service Business" that requires registration and coordination with your bank. Your bank will also be interested in the checks you will be presenting to them and it could impact the fees you pay for your account.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
Your state laws are the first place to look. There may be restrictions imposed at this level. Next, ask your bank. They are interested in the business you conduct and depending on your volumes and limits, you could be considered a "Money Service Business" that requires registration and coordination with your bank. Your bank will also be interested in the checks you will be presenting to them and it could impact the 