Opencambio.com LLC.; Opencambio.com LLC is a software and technology provider that would offer Florida residents and foreigners located in other countries a check “converting” service and foreign currency exchange. The Petitioner’s technology ...

 

DEPARTMENT OF FINANCIAL SERVICES

Finance

NOTICE IS HEREBY GIVEN that The Florida Office of Financial Regulation has received the petition for declaratory statement from Opencambio.com LLC. The petition seeks the agency’'s opinion as to the applicability of Chapter 560, Florida Statutes as it applies to the petitioner.

Opencambio.com LLC is a software and technology provider that would offer Florida residents and foreigners located in other countries a check “converting” service and foreign currency exchange. The Petitioner’s technology eliminates the use of physical currency, i.e., bills or coins. The services involve exchanging checks or foreign currency for Debit Cards with a unique PIN containing the balance of the transaction minus the commission agreed. The Debit Cards do not have ATM privileges, as per the issuer bank. So physical money would never be obtained or delivered out of the services provided by the Petitioner. The petition seeks a declaratory statement from the Office on whether a money services business license pursuant to Chapter 560, Florida Statutes would be required.

A copy of the Petition for Declaratory Statement may be obtained by contacting: Agency Clerk, Office of Financial Regulation, P.O. Box 8050, Tallahassee, Florida 32314-8050, [phone], [e-mail].

Please refer all comments to: Agency Clerk, Office of Financial Regulation, P.O. Box 8050, Tallahassee, Florida 32314-8050, [phone], [e-mail].