N.J. Admin. Code § 3:24-4.1

Current through Register Vol. 56, No. 13, July 1, 2024

Section 3:24-4.1 - Check cashing fees

(a) A licensed check casher shall be permitted to charge a fee for cashing a check drawn on a depository institution or other financial entity located in this or any other state, up to an amount as follows:

1. For cashing a check payable to a recipient of Temporary Assistance for Needy Families (TANF), one percent of the face amount of the check, or $.90, whichever is greater;

2. For cashing a check payable to a recipient of Supplemental Security Income pursuant to Subchapter XVI of the Social Security Act, 42 U.S.C. §§ 1381 et seq., one and one half percent of the face amount of the check, or $.90, whichever is greater;

3. For cashing a check payable to a recipient of Old-Age and Survivors benefit payments pursuant to Subchapter II of the Social Security Act, 42 U.S.C. §§ 401 et seq., one and one half percent of the face amount of the check, or $.90, whichever is greater; and

4. For cashing any other check, 2.21 percent of the face amount of the check, or $ 1.00, whichever is greater.

N.J. Admin. Code § 3:24-4.1

New Rule, R.2010 d.140, effective 7/6/2010.
See: 41 N.J.R. 4583(a), 42 N.J.R. 1355(a).
Former N.J.A.C. 3:24-4.1, Returned check fee; prohibition, recodified to N.J.A.C. 3:24-4.3.