Money transfer counter in your shop

Customers pay the provider's fees and exchange rate. The provider pays you a commission. Typical customers are people in your area who send money to family overseas.

A commission on each transaction, set by the provider. It can also bring in extra footfall for your shop, but the commission per transaction is small, so it depends on steady volume.

• Careful with cash and record keeping
• Comfortable checking ID and asking questions
• Friendly, clear customer service

• The provider must be authorised or registered to offer the service. Check them on the FCA Register and check how you will be registered as their agent
• Anti-money laundering duties: customer ID checks, record keeping and reporting suspicious activity. Check what training and checks you must do
• Cash on the premises: check your insurance covers theft and cash held, and think about staff safety
• Read the agent contract for exclusivity, minimum volumes, fees and what happens if a transaction is reversed or fraudulent
• Commission rates can be low, so work out if the volume you expect covers the extra staff time

Estimates suggest startup costs are typically around £600 to £3,000, depending on your set-up, equipment and any training or security you need. Read the agent contract carefully for fees, minimum volumes and exclusivity.

Monthly revenue from commission is typically estimated at around £300 to £1,500, depending on transaction volume and the provider's rates. Commission can be low, so check that it covers the extra staff time involved.

Check the provider is authorised or registered on the FCA Register and how you will be registered as their agent. Also check anti-money laundering duties, such as ID checks and record keeping, plus insurance for cash on site.