Introduction to Money Transmission Businesses

A Money Transmission Service means a service that involves transmitting money by any means, other than a service -

(a) that is a payment service to which the European Communities (Payment Services) Regulations 2018 (S.I. No.6 of 2018) apply,

(b) that is provided to customers on a basis that is ancillary to any other services apart from debt management services,

(c) that is provided by— 
(i) any charitable organisation within the meaning of section 2(1) of the Charities Act 2009,   
(ii) the Money Advice and Budgeting Service,
(iii) any licensed bank, building society, credit union or friendly society,
(iv) a barrister, solicitor or accountant who provides money transmission services only in an incidental manner and is subject to regulation by a professional body, 
(v) the Insolvency Service of Ireland, any approved intermediary authorised under section 47 of the Personal Insolvency Act 2012 acting as such or any personal insolvency practitioner authorised under Chapter 1 of Part 5 of that Act carrying on practice as such, 
(vi) personal representatives (within the meaning of section 3 of the Succession Act 1965), 
(vii) trustees of a trust, other than a trust which is established to provide money transmission services,     
(viii) the Bank, 
(ix) An Post, 
(x) the National Asset Management Agency, 
(xi) the National Treasury Management Agency, 
(xii) the National Consumer Agency, and 
(xiii) any other person constituted, or holding office, under an enactment or funded (in whole or in part).

The Central Bank is responsible for the approval of certain charges imposed by a Money Transmission Business in accordance with Section 149A of the Consumer Credit Act, 1995 (as amended) - see It is also responsible for monitoring the anti-money laundering and prevention of the financing of terrorism measures adopted by Money Transmission Businesses.