Section 33.35 - What Records Must I Keep Related to Money Transmission Transactions?(a) Does this section apply to me? This section applies to you if you hold a money transmission license issued by the department under Finance Code, Chapter 152, or are the authorized delegate of a license holder, as applicable.(b) What are the general recordkeeping requirements? (1) As a general matter, you must maintain: (A) records of all filings made, and that contain all information required, under applicable federal laws and regulations, including the Bank Secrecy Act and 31 CFR Chapter X (collectively BSA);(B) in addition to the records required under Finance Code, Chapter 152, the records required in this section related to specific types of money transmission transactions; and(C) records sufficient to enable you to file accurate and complete reports with the commissioner or department in accordance with Finance Code, Chapter 152 and Chapter 33 of this title (relating to Money Services Businesses).(2) You must obtain and retain the information required under this section in a log or by another means of retention that allows the information to be readily retrieved. In addition, you must: (A) maintain your records in such a manner that you can identify and make available to the department the records related to your Texas transaction activity, and separately account for your Texas transaction activity; and(B) make your records available to the department within the time period reasonably requested.(3) If the BSA requires your authorized delegate to obtain, record and maintain information in connection with transactions conducted as your authorized sales representative, you shall, upon request by the department, arrange with the authorized delegate to have the records made available to the department. For example, the BSA requires your authorized delegate to maintain records related to the sale of travelers checks issued by you because your authorized delegate, as seller, is the person that actually receives currency. The department may require you to arrange for the production of those records for examination or as otherwise necessary or, alternatively, obtain the records directly from your authorized delegate.(4) If you exchange currency in connection with a money transmission transaction subject to this section, you must comply with the recordkeeping requirements of this section and not the requirements of § RSA 33.31 of this title (relating to Currency Exchange Recordkeeping).(c) What specific records must I keep related to the sale of payment instruments? (1) This subsection applies to transactions, including third-party bill paying transactions, in which you issue or sell, either as a license holder or the authorized delegate of a license holder, as applicable, travelers checks, money orders, checks or similar payment instruments to one purchaser for $3,000 or more in currency.(2) You must keep a record for each transaction that contains the customer and transaction information required under RSA 1010.415(a)(2) and (b).(d) What specific records must I keep related to the issuance and sale of stored value products? (1) This subsection applies to transactions in which you issue or sell, as a license holder or the authorized delegate of a license holder, as applicable, stored value products (e.g., cards, devices, services, digital wallets/e-wallets) in any amount for currency or an instrument payable in currency.(2) You must maintain transaction records regarding each stored value transaction that are appropriate for your business activities and the type of stored value product you issue or sell. The records must be sufficient to enable the department to determine the volume of your stored value transactions and the amount of your outstanding stored value liability.(e) What specific records must I keep related to transmission of funds transactions? (1) This subsection applies to transactions, including third-party bill paying transactions, in which you, either as a license holder or the authorized delegate of a license holder, as applicable: (A) receive money from a sender for transmission to the sender's designated recipient and the sender pays for or otherwise funds the transmission with currency, an instrument payable in currency, such as a check or money order, or a credit card; or(B) receive transmitted funds and pay the designated recipient with currency or an instrument payable in currency.(2) The requirements of this subsection do not apply to a transmission of funds transaction governed by the Electronic Fund Transfer Act of 1978 (title XX, Pub. L. 950630, 92 Stat. 3728, RSA 1693, et. seq.), as well as any other funds transfers that are made through an automated clearing house, an automated teller machine, or a point-of-sale system within the meaning of RSA 1010.100(w).(3) If a transmission of funds otherwise subject to this subsection is funded by a credit card, you must obtain and record only the information required under the applicable provisions of RSA 1010.410(e).(4) For purposes of paragraph (5) of this subsection, "identifying number" means the taxpayer identification number (e.g., social security, employee identification number) or passport number of your customer or the person on whose behalf your customer conducts the transaction, as applicable, or, if your customer or other person has no such number and is an alien, then the number of an alien identification card or other official document evidencing foreign nationality or residence, such as a foreign driver's license or foreign voter registration card.(5) With respect to a transmission transaction in an amount of $3,000 or more, you must keep a record for each transaction that contains: (A) for an in-person transaction in which your customer is the sender and orders the transaction on the customer's own behalf or on behalf of another person: (i) the customer and transaction information required under RSA 1010.410(e)(1)(i) and (e)(2)(i), except that you must review or record, as applicable: (I) an identifying number for your customer and, if applicable, the person on whose behalf your customer is conducting the transaction;(II) a photograph identification of your customer;(III) the identity of the issuer of the photograph identification;(IV) the recipient's name; and(V) the name of the recipient's bank and bank account number if the funds are to be deposited in the recipient's bank account;(ii) your customer's date of birth;(iii) the time of day the transaction is conducted;(iv) the location of the office where the transaction is conducted;(v) the method of payment (e.g., cash, check, credit card) unless cash is the only method of payment;(vi) the amount of any fee charged for the transaction; and(vii) the unique number of the receipt required under § RSA 33.37 of this title (relating to What Receipts Must I Issue Related to Money Transmission Transactions?).(B) for a not-in person transaction, for example, a transaction ordered by phone, fax, mail or online, in which your customer is the sender and orders the transaction on the customer's own behalf or on behalf of another person: (i) the customer and transaction information required under RSA 1010.410(e)(1)(i) and (e)(2)(ii), except that you must review or record, as applicable: (I) an identifying number for your customer and, if applicable, the person on whose behalf your customer is conducting the transaction;(II) the recipient's name; and(III) the name of the recipient's bank and bank account number if the funds are to be deposited in the recipient's bank account;(ii) your customer's date of birth;(iii) your customer's telephone number, or, if your customer has no telephone, a notation in the record of that fact;(iv) the time of day the transaction is conducted;(v) the location of the office where the transaction is conducted;(vi) the method of payment (e.g., cash, check, credit card);(vii) the amount of any fee charged for the transaction; and(viii) the unique number of the receipt required under § RSA 33.37 of this title (relating to Money Transmission Receipts).(C) for an in-person transaction in which your customer receives payment of the transmitted funds as the designated recipient or on behalf of the designated recipient: (i) the customer and transaction information required under RSA 1010.410(e)(1)(iii) and (e)(3)(i), except that you must review or record, as applicable: (I) an identifying number for your customer and, if applicable, the person on whose behalf your customer is conducting the transaction;(II) a photograph identification of your customer;(III) the identity of the issuer of the photograph identification; and(ii) your customer's date of birth;(iii) your customer's telephone number, or, if your customer has no telephone, a notation in the record of that fact;(iv) the time of day your customer receives payment of the transmitted funds;(v) the location of the office where your customer receives payment of the transmitted funds;(vi) the method of payment (e.g., cash, check); and(vii) the unique number of the receipt required under § RSA 33.37 of this title (relating to Money Transmission Receipts).(D) for a transaction where the transmission proceeds are delivered to the designated recipient other than in person: (i) the customer and transaction records required under RSA 1010.410(e)(1)(iii) and (e)(3)(ii);(iii) the location of the office where the transmitted funds are received; and(iv) the unique number of the receipt required under § RSA 33.37 of this title (relating to Money Transmission Receipts).(6) With respect to a transmission transaction in an amount less than $3,000, whether your customer is the sender or the recipient, you must keep a record for each transaction that contains: (A) the date of the transaction and time of day your customer orders the transmission or receives payment of the transmitted funds;(B) the location of the office where the transaction is conducted;(C) the amount of the transmission;(D) the amount of any fee charged for the transaction;(E) the names of the sender and recipient; and(F) the unique number of the receipt required under § RSA 33.37 of this title (relating to Money Transmission Receipts).(f) What records must I keep related to currency transportation? (1) This subsection applies to a transaction in which you, as a license holder or the authorized delegate of a license holder, receive currency or an instrument payable in currency to physically transport the currency or its equivalent from one location to another by motor vehicle or other means of transportation or through the use of the mail or a shipping, courier or other delivery services.(2) With respect to a transaction subject to paragraphs (3) or (4) of this subsection, you must ask your customer whether the customer is conducting the transaction on the customer's own behalf or on behalf of another person (individual or business.) If your customer is conducting the transaction on behalf of another person, you must obtain and record, in addition to the information required under paragraphs (3) or (4) of this subsection, the name and address of the other person together with appropriate identification for the other person, such as taxpayer identification, passport, or alien registration number.(3) With respect to a transportation transaction in an amount of $3,000 or more in which your customer is the sender and orders the transportation of the currency on the customer's own behalf or on behalf of another person, you must keep a record for each transaction that contains: (A) your customer's name, address, date of birth and telephone number or, if your customer has no telephone, a notation in the record of that fact;(B) your customer's taxpayer identification number (e.g., social security number, employee identification number) or passport number or, if your customer does not have such a number and is an alien, then the number of an alien identification card or other official document evidencing your customer's foreign nationality or residence, such as a foreign driver's license or foreign voter registration card;(C) the specific identifying information (number, type, issuer) of a document that contains the name and a photograph of your customer and that is customarily acceptable within the banking community as a means of identification when cashing checks for nondepositors;(D) the designated recipient's name;(E) the designated recipient's address and telephone number to the extent that information is available to you after reasonable inquiry;(F) the amount of currency or instrument(s) to be transported and, if an instrument, the type of instrument (e.g., money order, check);(G) the date and time of day you receive from your customer the currency or instrument(s) to be transported;(H) the location of the office where the transaction is conducted;(I) the amount of any fee charged for the transaction; and(J) the unique number of the receipt required under § RSA 33.37 of this title (relating to Money Transmission Receipts).(4) With respect to a transportation transaction in an amount of $3,000 or more in which your customer receives the transported currency as the designated recipient or on behalf of the designated recipient, you must keep a record for each transaction that contains: (A) your customer's name, address, date of birth and telephone number or, if your customer has no telephone, a notation in the record of that fact;(B) your customer's taxpayer identification number (e.g., social security number, employee identification number) or passport number or, if your customer does not have such a number and is an alien, then the number of an alien identification card or other official document evidencing your customer's foreign nationality or residence, such as a foreign driver's license or foreign voter registration card;(C) the specific identifying information (number, type, issuer) of a document that contains the name and a photograph of your customer and that is customarily acceptable within the banking community as a means of identification when cashing checks for nondepositors;(E) the sender's address and telephone number to the extent that information is available to you after reasonable inquiry;(F) the amount of currency or instrument(s) to be delivered to your customer and, if an instrument, the type of instrument (e.g., money order, check);(G) the date and time of day your customer receives the transported currency or instrument(s);(H) the location of the office where the transported currency or instrument(s) is delivered to your customer; and(I) the unique number of the receipt required under § RSA 33.37 of this title (relating to Money Transmission Receipts).(5) With respect to a transportation transaction in an amount less than $3,000, whether your customer is the sender or the recipient, you must keep a record for each transaction that contains: (A) the date and time of day you receive from your customer the currency or instrument(s) to be transported or your customer receives the transported currency or instrument(s), as applicable;(B) the location of the office where the transaction is conducted;(C) the amount of the currency or instrument(s) transported;(D) the amount of any fee charged for the transaction;(E) the names of the sender and recipient; and(F) the unique number of the receipt required under § RSA 33.37 of this title (relating to Money Transmission Receipts).(g) May I obtain a waiver of the recordkeeping requirements? The commissioner may waive any requirement of this section upon a showing of good cause if the commissioner determines that: (1) you maintain records sufficient for the department to examine your money transmission business; and(2) the imposition of the requirement would cause an undue burden on you and conformity with the requirement would not significantly advance the state's interest under Finance Code, Chapter 152.7 Tex. Admin. Code § 33.35
The provisions of this §33.35 adopted to be effective August 31, 2006, 31 TexReg 6643; amended to be effective July 8, 2010, 35 TexReg 5805; amended to be effective May 5, 2011, 36 TexReg 2724; Amended by Texas Register, Volume 43, Number 26, June 29, 2018, TexReg 4452, eff. 7/5/2018; Amended by Texas Register, Volume 43, Number 52, December 28, 2018, TexReg 8584, eff. 1/3/2019; Amended by Texas Register, Volume 48, Number 45, November 10, 2023, TexReg 6584, eff. 11/16/2023