Pay-Quik Financial Ltd is licensed as a money transmitter by the department of financial services of the following states: MN
We are also a registered money service business with the Financial Crimes Enforcement Network (FinCEN).
It is always our policy to comply with all government regulations.
As a money service business, we are subject to the following regulations:
We are required to report the following types of transactions to the authorities:
We are required to keep all customer ID, transaction, and corporate records for a minimum of 5 years.
We are required to collect and verify your identification for remittances of $3,000 and more.
We are required to make PEP determination for transactions that have any ties to politically exposed persons.
If you are conducting a transaction on someone else's behalf, we are required to obtain information on both parties: you and the person on whose behalf you are conducting the transaction.
We are required to maintain a compliance program containing adequate policies and procedures in accordance with the applicable regulations.
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