Massachusetts H4277 sets maximum allowable fees for check cashers.

Massachusetts H4277 establishes limits on fees charged by check cashers. It caps fees at 2.5% of the check's face value plus $1.00 for government checks under $1,500, 2.25% plus $1.00 for payroll checks, 5% or $5.00 plus $1.00 for personal checks, and 3% plus $1.00 for other payment instruments under $1,500. It also limits the initial account setup fee to $5.00. These caps apply to all licensees, who must file and post their fee schedules annually.

Massachusetts H4277 sets maximum allowable fees for check cashers.

Massachusetts H4277 establishes limits on fees charged by check cashers. It caps fees at 2.5% of the check's face value plus $1.00 for government checks under $1,500, 2.25% plus $1.00 for payroll checks, 5% or $5.00 plus $1.00 for personal checks, and 3% plus $1.00 for other payment instruments under $1,500. It also limits the initial account setup fee to $5.00. These caps apply to all licensees, who must file and post their fee schedules annually.