12 CFR 233.3
§ 233.3 Designated payment systems.
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 233.3, § 233.3 Designated payment systems, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/44967
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Full text
The following payment systems could be used by participants in connection with, or to facilitate, a restricted transaction:
(a) Automated clearing house systems;
(b) Card systems;
(c) Check collection systems;
(d) Money transmitting businesses solely to the extent they
(1) Engage in the transmission of funds, which does not include check cashing, currency exchange, or the issuance or redemption of money orders, travelers' checks, and other similar instruments; and
(2) Permit customers to initiate transmission of funds transactions remotely from a location other than a physical office of the money transmitting business; and
(e) Wire transfer systems.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.