Application
Membership and Charges
Our expenditures on operation and organization of classes are mainly sponsored by counterparts of the money service industry. We hope to create a healthy and corruption-free business environment for the industry and to ensure Hong Kong’s international reputation. All money service operators and related industry persons are welcome to join us. Membership is free of charge!
Register as a member of MSOA
Any operator engaging in money service related industry (formally known as remittance agent and currency exchange operators) can register as an Affiliate Member of MSOA and to receive money service industry related information, relevant legislation updates in Hong Kong and other major countries, current affairs updates, course introduction and to participate in MSOA activities and industry forums etc. for free. (Click here to download membership application form)
Eligibility for Membership Application
Honor Associate Member| 1. | Must hold the Money Service Operators Licence issued by the Hong Kong Customs and Excise Department |
| 2. | Engaged in the industry for 15 years or above, or licensed persons or relevant persons who contributed significantly to the industry |
| 3. | Must be recommended by one or more members of the Board of Directors |
| 4. | Honor Associate Member can serve as a member of the Board of Directors |
Certified Associate Member
| 1. | Must hold the Money Service Operators Licence issued by the Hong Kong Customs and Excise Department |
| 2. | Must be recommended by one or more members of the Board of Directors |
| 3. | Required to conduct compliance audit and to be certified by independent third party approved by the MSOA (The above compliance audit is to be performed voluntarily by members, MSOA is not responsible for any costs related to the audit) |
| 4. | Certified Associate Member can serve as a member of the Board of Directors |
Ordinary Associate Member
| 1. | Must hold the Money Service Operators Licence issued by the Hong Kong Customs and Excise Department |
| 2. | Required to conduct compliance audit and to be certified by independent third party approved by the MSOA (The above compliance audit is to be performed voluntarily by members, MSOA is not responsible for any costs related to the audit) |
| 3. | Ordinary Associate Member cannot serve as a member of the Board of Directors |
Affiliate Member
| 1. | Holds the Money Service Operators Licence issued by the Hong Kong Customs and Excise Department; or |
| 2. | Being an organization and person holding unexpired official financial licence and related parties; or |
| 3. | Being an organization and person holding equivalent overseas financial licence and related parties; |
| 4. | Affiliate Member cannot serve as a member of the Board of Directors |
Member Services - Free
| 1. | Provide latest local and overseas industry information; |
| 2. | Provide latest announcements by the Hong Kong Customs and Excise Department and related government departments; |
| 3. | Provide latest updates on relevant legislations in Hong Kong and other major countries; |
| 4. | Provide consultation on applying Money Service Operators Licence; |
| 5. | Provide assistance to counterparts in abiding to compliance regulations and consultation on compliant operations; |
| 6. | Participate in industry discussion forums; |
| 7. | Organize talks and seminars on compliance; |
| 8. | Provide course introduction; |
| 9. | Provide consultation on anti-money laundering system tools; |
| 10. | Provide consultation on compliance software and system tools; |
| 11. | Provide self-assessment on compliance standard; |
| 12. | Provide solutions to counterparts on other issues through service hotline; |
| 13. | Provide online legal enquiry; and |
| 14. | Establish credit union in order to assist the industry, practitioners and related parties to foster good saving habit and to build trust with financial institutions. |
The above Member Services - Free list is not exhaustive; members are welcome to contact our staff at any time.
Member Services – Items with Charges
| 1. | Assist in applying for the Money Service Operators Licence issued by the Hong Kong Customs and Excise Department |
| 2. | Referral of financial service (MoneyGram, Western Union) to members |
| 3. | Engage MSOA to conduct basic compliance assessment based on anti-money laundering and counter- terrorism financing guidelines and regulations |
| 4. | Engage MSOA to conduct compliance review based on anti-money laundering and counter- terrorism financing guidelines and regulation |
| 5. | Engage MSOA to assist in drafting a basic money service operator operation and compliance manual |
| 6. | Engage MSOA to assist in drafting a comprehensive money service operator operation and compliance manual |
MSOA reserves the right to change the terms and conditions and fees at any time without prior notice. Please refer to our website regularly for any updates.
MSOA will form a voluntary squad to conduct surprise regulation inspections in order to assist industry counterparts to remain vigilant about the importance of compliance regulations. MSOA will deliver admonition and/or reprimand against any licensed members who do not rectify violation upon repeated advice. In severe cases, members will be expelled from their memberships and the MSOA may even report the violations to law enforcement authorities. Members of the MSOA must not act prejudicial to the industry in any form.
Should you have any interests in provisions of sponsorship or members' benefits, please feel free to contact us.