Money transfer and mobile money kiosk

Customers pay the provider's fees and rates. The providers pay you commission. Your customers are mainly people who send money to family overseas or receive it, in an area with a community that uses these services.

Commission per transaction from each provider you represent. Working with several providers and offering related services, where allowed, helps spread risk, but you still need steady footfall to cover rent.

• Accurate with cash and paperwork
• Confident with ID checks and compliance
• Good with customers, ideally speaking community languages

• Providers must be authorised or registered. Check them on the FCA Register and check how your agent registration works
• Anti-money laundering rules apply. Check what ID checks, training, record keeping and reporting you must do
• Cash handling and robbery risk: check insurance, security and safe working for staff
• Rent and business rates need to be covered even in quiet months, so check your break-even point carefully
• Check planning and permitted use for the premises, and read agent contracts for exclusivity and minimum volumes

Estimates suggest startup costs are typically around £4,000 to £20,000, depending on the unit, fit-out, security and equipment. Rent and business rates need covering even in quiet months, so check your break-even point carefully.

Monthly revenue is typically estimated at around £1,500 to £7,000, depending on the providers you work with, your location and transaction volume. Commission rates vary, so check your costs against the volume you expect.

Check providers are authorised or registered on the FCA Register and how agent registration works. Also check anti-money laundering duties, cash handling security, insurance, planning and permitted use for the premises, and agent contract terms.