Examples of Money transmission services in a sentence
The term includes a monetary unit of account established by an intergovernmental organization or by agreement between 2 or more governments.(c) "Money transmission services" means selling or issuing payment instruments or closed-loop prepaid access or prepaid access devices or vehicles or receiving money or monetary value for transmission.
Money transmission services provided by the United States postal service or by a contractor on behalf of the United States postal service.
The term includes a monetary unit of account established by an intergovernmental organization or by agreement between 2 or more governments.(c) "Money transmission services" means selling or issuing payment instruments or stored value devices or receiving money or monetary value for transmission.
Money transmission services are defined in the FSA glossary of terms attached to the MLR 2007 as the activity of transmitting customers’ money (or representations of monetary value) according to customer instructions.53 This activity must nevertheless be carried on by way of business which will is stated, in particular, to involve the charging of a fee.
Money transmission services are primarily conducted by the banks, but there is one stand-alone money transfer business.