Money transfer counter inside your shop

Immigrant and local communities sending money to family abroad, people without bank accounts, and shoppers who prefer cash. The provider pays you a commission, and customers pay the provider's fees.

A commission or share of the fee on each transfer or payout, paid by the provider. Extra foot traffic can also lift your regular shop sales.

• Careful with cash and record keeping
• Friendly, patient customer service
• Willingness to follow ID and compliance procedures
• Languages spoken in your community are a plus

• Providers must be licensed by states; check what your provider requires of agents and whether your state requires any agent registration
• Anti-money laundering rules: check federal (FinCEN) and provider requirements for ID checks, record keeping and suspicious activity reporting
• Fraud and scam victims: staff need training to spot red flags
• Holding extra cash raises theft risk; check insurance, a safe and your security setup
• Check your lease and your city or county business license rules before adding a new service

As an estimate, startup costs are typically around $1,000 to $5,000, depending on the terminal or equipment you need, your security setup such as a safe, and what your chosen provider requires from its agents.

Monthly revenue is typically estimated at around $500 to $2,500, depending on how many transactions you handle and the commission your provider pays. It works best as an add-on to a shop that already has regular customers.

Check what your provider requires of agents and whether your state requires agent registration. Also check federal FinCEN anti-money laundering rules on ID checks and record keeping, your insurance and security, and your lease and local business license.