The Act on foreign currency exchange

The Act on foreign currency exchange is an Illinois Act 1957, of the currency exchange (cash check and warrants) regulates industry by the Department of financial institutions. Act requires licenses and annual reviews to ensure more than 600 communities currency exchange the State standards. The RequirementsThe law requires lead providing clients and check box companies have licensed renewable for one year for each site on the basis of an analysis of the community needs change. The license granted, based on the effect of the company proposes the existing currency exchange business and the need for the community for one.Required Forms and DocumentsCurrency Exchange licenses under the law require a fee of $500 and five elements application: Checklist, the application questionnaire, States financial affidavit. A signed contract and source and the method of financing - loans, cash, equity - documentation is required to buy officer enterprise which must present existing business.Every, Director of the Board of directors or of the holder, a questionnaire and the financial statements. References may not be members of the family or other exchanges.Applicants currency for a new staff licence, permit the sale or active agent or bearings are required to the deliver personal story about a bureau.Available recognized credit ServicesAlthough known for cashing the check credit reports and mandates, exchanges of the currency of the law can also provide exchange of a wide range of additional services, including wire transfers, hunting and permits foreign payment cards of the bail fund, bus switches passports, currency fishing, faxes and copies, notary public, private e-Mail boxes and stamps.