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Section 2103 Of Chapter 6. Consumer Disclosures From California Financial Code >> Division 1.2. >> Chapter 6.
2103
. (a) In the case of money received for transmission, the
licensee or its agent shall give the customer a receipt at the time
of the transaction.
(1) The receipt shall contain the following information, as applicable:
(A) The name of the sender.
(B) The name of the designated recipient.
(C) The date of the transaction, which is the day the customer funds the money transmission.
(D) The name of the licensee.
(E) The amount to be transferred to the designated recipient, in the currency in which the money transmission is funded, using the term "Transfer Amount" or a substantially similar term.
(F) Any fees and taxes imposed on the money transmission by the licensee or its agent which are payable or have been paid by the sender, in the currency in which the money transmission is funded, using the terms "transfer fees" for fees and "transfer taxes" for taxes, or substantially similar terms.
(G) The total amount of the transaction, which is the sum of subparagraphs (E) and (F), in the currency in which the money transmission is funded, using the term "total" or a substantially similar term.
(H) The exchange rate, if any, used by the licensee or its agent for the money transmission, rounded consistently for each currency to no fewer than two decimal places and no more than four decimal places, using the term "exchange rate" or a substantially similar term.
(I) For all transmissions, other than transmissions related to e-commerce transactions, the amount that will be received by the designated recipient, in the currency in which the funds will be received, using the term "total to recipient" or a substantially similar term. For transmissions related to e-commerce transactions, the amount that will be received by the designated recipient before any fees, taxes, or other amounts payable by the designated recipient are deducted, using the term "total to recipient" or a substantially similar term. These fees, taxes, or other amounts shall be disclosed to the designated recipient. The disclosure of fees, taxes, or other amounts payable by the designated recipient, which need not be disclosed to the sender, shall be disclosed as part of a separate written agreement between the licensee and the designated recipient.
(2) (A) In addition to the disclosures set forth in paragraph (1), the receipt shall either include or have attached a conspicuous statement as follows:
(1) The receipt shall contain the following information, as applicable:
(A) The name of the sender.
(B) The name of the designated recipient.
(C) The date of the transaction, which is the day the customer funds the money transmission.
(D) The name of the licensee.
(E) The amount to be transferred to the designated recipient, in the currency in which the money transmission is funded, using the term "Transfer Amount" or a substantially similar term.
(F) Any fees and taxes imposed on the money transmission by the licensee or its agent which are payable or have been paid by the sender, in the currency in which the money transmission is funded, using the terms "transfer fees" for fees and "transfer taxes" for taxes, or substantially similar terms.
(G) The total amount of the transaction, which is the sum of subparagraphs (E) and (F), in the currency in which the money transmission is funded, using the term "total" or a substantially similar term.
(H) The exchange rate, if any, used by the licensee or its agent for the money transmission, rounded consistently for each currency to no fewer than two decimal places and no more than four decimal places, using the term "exchange rate" or a substantially similar term.
(I) For all transmissions, other than transmissions related to e-commerce transactions, the amount that will be received by the designated recipient, in the currency in which the funds will be received, using the term "total to recipient" or a substantially similar term. For transmissions related to e-commerce transactions, the amount that will be received by the designated recipient before any fees, taxes, or other amounts payable by the designated recipient are deducted, using the term "total to recipient" or a substantially similar term. These fees, taxes, or other amounts shall be disclosed to the designated recipient. The disclosure of fees, taxes, or other amounts payable by the designated recipient, which need not be disclosed to the sender, shall be disclosed as part of a separate written agreement between the licensee and the designated recipient.
(2) (A) In addition to the disclosures set forth in paragraph (1), the receipt shall either include or have attached a conspicuous statement as follows:
