Transfer of MSBs
Effective September 13, 2021, the Money-Services Businesses Act (MSBA) will be administered by Revenu Québec. In the intervening period, the AMF will continue to regulate automatic teller machine operators.
If you have any questions, you can direct them to the AMF Information Centre
It is important to read the Money-Services Business User Guide (pdf - 2 MB)This link will open in a new windowJanuary 2021Money-Services Business User Guide for the 5 steps of the licence application process in detail.
1. Complete and submit the licence application form
The respondentThe respondent is the person authorized to send the documents with which the enterprise fulfills its statutory and regulatory obligations. The respondent is necessarily the natural person who operates the enterprise if it is a sole proprietorship, a director or an officer of the enterprise if it is a legal person, or a partner of the enterprise if it is a partnership. must complete and mail in the form Money services - Licence application (pdf - 505 KB)This link will open in a new windowUpdated on 1st January 2020.
Fees to be sent with this form are $680 per class.
After reviewing your form, a money-services businesses agent will send you a letter informing you of the next steps. You must then:
- Make any corrections to the information and documents sent in step 1.
- You have 20 days to make corrections. Please contact the AMF staff member responsible for your file if you have any questions
- Go to step 2.
2. Register for AMF E-Services
Any money-services business wishing to apply for a licence under the Money-Services Businesses Act must use AMF E-Services.
This service allows you to send all the information required in the next step (Step 3 – Disclose business relationships) quickly and securely.
follow steps 1 and 2 of the instructions for businesses.
AMF Information Centre agents are available at any time at 1-877-525-0337 to help you complete your registration.
When your registration is complete, contact the AMF staff member responsible for your file, who will guide you through the next step.
If you are:
- A foreign enterprise that is not constituted under the laws of Québec and does not have its head office or an establishment in Québec where it primarily conducts its activities;
- A natural person operating a sole proprietorship;
You cannot use AMF E-Services. The AMF staff member responsible for your file will send you instructions on how to disclose the required information in the next step (Step 3 – Disclose business relationships).
3. Disclose business relationships
We recommend that you contact the AMF staff member responsible for your file before beginning this step to avoid filling out forms unnecessarily and to simplify the disclosure process.
Use E-Services for this step.
Using E-Services, disclose the following persons (or entities) and information.
Directors (or partners) of the business;
Owners (shareholders) of the business and persons who control the business;
All employees of the business;
Mandataries, whether persons or entities, as well officers of entities;
Persons or entities (other than financial institutions) that lend funds to the business, as well as the officers and directors of such lenders (if applicable).
The addresses of all establishments of the business, whether money services are offered there or not;
The list of all financial institutions offering services to the business. For example, you must disclose the name of the holder and number of the bank account;
For disclosures related to a person, you must submit an appendix and a piece of photo ID.
Consult the appendices below to see which information you must provide when making a disclosure on-line.
When you have completed step 3, please allow at least 6 to 8 weeks to receive the decision from the AMF following the analysis of your application.
4. Pay the application fees
Once the AMF staff member responsible for your file has reviewed your disclosures, you will receive an invoice via AMF E-Services. To this end, you will receive a message at the e-mail address you provided to the AMF informing you that you have mail in your inbox. You must access E-Services to view all e-mails.
What fees are payable?
- For each person disclosed in step 3 and for the business applying for a licence: $127 for the issuance of a security clearance reportThe security clearance report is used to verify the judicial background and moral character of a person or a business. This report is issued by the Sûreté du Québec..
- Payment form by mail (pdf - 81 KB)This link will open in a new windowApril 2017
To avoid processing delays, please pay your invoice within 30 days of receipt
5. Complete the licence application process
Once the AMF has received all security clearance reports mentioned in step 4 and has concluded that there is no restriction to issuing a licence, you will receive confirmation, by regular mail, that you have successfully completed the application process.
This confirmation will also include the licences to be displayed in all your establishments where money services are offered and at your mandataries establishments, if applicable.
If, once your application or security clearance reports are analyzed, the AMF concludes that there is a restriction to issuing a licence, you will be asked to provide information to complete your file. The AMF will then make a decision regarding the licence.
You have now completed the application process.
On March 1 of each year, you will receive an invoice for the annual payment of fees. The total amount of this invoice will be $680* for each money service you offer at this date. You will have 30 days to pay this invoice.
*This fee is adjusted annually.
Forms and appendices
- Money-Services Business licence application form (pdf - 501 KB)This link will open in a new windowUpdated on 11 December 2020
- Appendix G Identification of financial institution (pdf - 66 KB)This link will open in a new windowDecember 2015
- Appendix A Statement of natural person related to the business (pdf - 448 KB)This link will open in a new windowDecember 2015
- Appendix B- Statement of legal person related to the business (pdf - 329 KB)This link will open in a new windowFebruary 2017
- Appendix D-1 Statement of mandatray (natural person) (pdf - 108 KB)This link will open in a new windowDecember 2015
- Appendix D-2 Statement of mandatary (Legal Person) (pdf - 107 KB)This link will open in a new windowAppendix D-1 - Statement of mandatray (natural person)
- Appendix D-3 Statement of officer of mandatary (Legal Person) (pdf - 105 KB)This link will open in a new windowDecember 2015
- Appendix E-1 Statement of Lender (Natural Person) (pdf - 120 KB)This link will open in a new windowDecember 2015
- Appendix E-2 Statement of Lender (Legal Person) (pdf - 112 KB)This link will open in a new windowDecember 2015
- Appendix E-3 Statement of officer Director or partner of lender (legal person) (pdf - 115 KB)This link will open in a new windowDecember 2015
- Appendix E-3.1 Statement of partner of a lender (legal person) (pdf - 92 KB)This link will open in a new windowDecember 2015
- Appendix F Identification of establisment/branch of the business (pdf - 82 KB)This link will open in a new windowDecember 2015