New Jersey Administrative Code
Title 3 - BANKING
Chapter 24 - CHECK CASHING
Subchapter 4 - CHECK CASHING FEES; POSTING; RETURNED CHECKS
Section 3:24-4.2 - Posting of fees; signs
Current through Register Vol. 56, No. 18, September 16, 2024
(a) The licensee shall post and at all times display in a conspicuous place on the premises the license and also the schedule of fees to be charged, which fees shall not exceed the maximums permitted pursuant to 3:24-4.1. The Department shall determine the number of signs which shall be posted and shall designate those areas in the check cashing facility where these signs will be displayed, depending upon the size of the office and its physical layout. These signs shall be in both the English language and Spanish language except where the Department deems it necessary that a different or additional language be used.
(b) Each sign shall be printed on heavy cardboard or other durable material, with printed information in a minimum of 22 point type with appropriate headings of at least 24 point bold type. These signs shall read as follows:
| STATE LICENSED CHECK CASHER MAXIMUM | ||
| AND MINIMUM FEES YOU CAN BE CHARGED | ||
| 2.21% OF YOUR CHECK | ||
| Example: | ||
| New Jersey check | $ 300.00 | |
| Maximum fee | 6.63 | 2.21% |
| Cash to you | $ 293.37 | |
| The minimum fee is $ 1.00. | ||
| CHECKS PAYABLE TO PERSON UNDER | ||
| TEMPORARY ASSISTANCE FOR NEEDY | ||
| FAMILIES (TANF) 1% OF YOUR CHECK | ||
| Example: | ||
| TANF check | $ 300.00 | |
| Maximum fee | 3.00 | 1% |
| Cash to you | $ 297.00 | |
| The minimum fee is $ .90. | ||
| SUPPLEMENTAL SECURITY INCOME CHECKS | ||
| (Sub XVI) 1 1/2% OF YOUR CHECK | ||
| Example: | ||
| SSI check | $ 300.00 | |
| Maximum fee | 4.50 | 1 1/2 % |
| Cash to you | $ 295.50 | |
| The minimum fee is $ .90. | ||
| SOCIAL SECURITY | ||
| OLD AGE AND SURVIVORS CHECKS | ||
| (Sub II) 1 1/2 % OF YOUR CHECK | ||
| Example: | ||
| SS check | $ 300.00 | |
| Maximum fee | 4.50 | 1 1/2 % |
| Cash to you | $ 295.50 | |
| The minimum fee is $ .90. | ||
