### Question
What is the definition of money transmitting business?


### Answer
The definition of **money transmitting business** is as follows in *31 U.S.C. § 5330*:

> any business other than the United States Postal Service which—


(A) provides check cashing, currency exchange, or money transmitting or remittance services, or issues or redeems money orders, travelers' checks, and other similar instruments or any other person who engages as a business in the transmission of currency, funds, or value that substitutes for currency, including any person who engages as a business in an informal money transfer system or any network of people who engage as a business in facilitating the transfer of money domestically or internationally outside of the conventional financial institutions system

#### Citation:
  - *31 U.S.C. § 5330*
  - Heading: **SUBTITLE IV-MONEY > CHAPTER 53-MONETARY TRANSACTIONS > SUBCHAPTER II-RECORDS AND REPORTS ON MONETARY INSTRUMENTS TRANSACTIONS**

