The seventh license section concerns the presence of an automated teller machine (ATM). For this to happen, you must go through some heavy bureaucratic paperwork requiring hours of work, enough to discourage you from managing an ATM in your store altogether. This regulation, unique in Quebec and apparently justified by the need to prevent money laundering, requires online disclosure of business ties by owners and, also, requires to speak with an advisor. Secondly, even if it is a simple ATM, it is necessary to provide a list of all employees who have to do tasks related to the management of the ATM and keep it up to date. A tedious and frankly exaggerated task.
|No||Purpose||Licence / Permit Name||Department||Ministry||2010 Fees||2021 Fees||Frequency||Transaction Mode|
|28||ATM||License for a Money-Services business (ATM)||Autorité des marchés financiers (AMF)||Ministère des Finances||$0.00||$226.00 per ATM yearly||Yearly||By mail|
|29||ATM||The fees charged for each security clearance report, which must be made about certain key people within the company||Autorité des marchés financiers (AMF)||Ministère des Finances||$0.00||Minimum $127.00 for each person||Once||By mail|