Money transmission: customer service.

Existing law establishes the Money Transmission Act to protect the interests of persons in this state who use money transmission services. The act prohibits a person from engaging in the business of money transmission in the state, as specified, unless the person is licensed or exempt from licensure. The act places various requirements on licensees, including requiring each licensee to give a customer a receipt containing specified information at the time of a money transmission transaction, and to post a notice on their premises informing individuals where complaints relating to money transmission activities at the location may be directed. This bill would, starting July 1, 2022, require a licensee to display on its internet website a toll-free telephone number through which a customer may contact the licensee for customer service issues and receive live customer assistance, and would specify the days and time that telephone line must be operative. The bill would require that telephone number to be included among the information contained in a receipt given to a customer at the time of a money transmission transaction.