check cashing service, ace check cashing counseling, check cashing online, ace check cashing solution

A person shall not engage in the business of cashing checks for consideration without first obtaining a license from the Department of Financial Institutions. There is an application fee of $250 to be included with the application. The check or money order is to be made payable to the Department of Financial Institutions. A license may be renewed for twelve months upon the filing of a renewal application by July 1st of each year. There is a $400 examination fee per day after the first examination day.

The fees are set by the department.

The department shall conduct an investigation of each applicant to determine financial responsibility, business experience, character, and general fitness of the applicant. The following information is required:

- A CPA prepared audited or reviewed financial statement showing at least $100,000 net worth with $50,000 in liquid assets.

- A criminal record report from the State Police of the State of residence for each owner, partner, or officer / member, and Indiana manager must accompany the application. Information if an officer / member, owner, or employee has ever been convicted of any crime other than traffic offenses.

- Credit Report for business and/or principals.

- Three reference letters, one must be a depository financial institution.

- If a corporation / LLC, a copy of Certificate of Authority to do business in Indiana from the Secretary of State.

- If have a d/b/a, copy of assumed name certificate from County Recorder in for each Indiana location.

- Copy of Indiana business plan, business history, and any other transactions that will be conducted at the check cashing location/s. Including a description of any money order sales that you plan to make if applicable.

- List of other states where operating as a check casher, giving State Agency, contact person, telephone number, and date licensed.

- Business resume for the manager, owner, partners, and all officers, as applicable.

- If a corporation or LLC, list all persons or entities owning 10% or more of the company. for entities meeting this test, list the persons owning that entity.

- Name of the person who will be managing the check cashing business. Applicant must show minimum two (2) year finance related experience for anyone who will be managing an Indiana Location.

- Have you had a license or registration canceled, suspended, or revoked in any other state?