Chapter IV: Money changers

I. – The immediate exchange of banknotes or coins denominated in different currencies constitutes a manual foreign exchange transaction. The acceptance of payment by another means of payment in exchange for cash delivered to a customer, provided that the latter is denominated in a different currency, also constitutes a manual foreign exchange transaction. II. – Foreign exchange dealers are natural or legal persons, other than credit institutions, finance companies, electronic…

I. – Notwithstanding the prohibition laid down in article L. 511-5, bureaux de change may give euros in cash in exchange for travellers’ cheques denominated in euros. II. – Persons carrying on the business of manual foreign exchange on an occasional basis or for limited amounts under the conditions set out in the last paragraph of Article L. 524-1 are required to send the Autorité de contrôle prudentiel et de…

I. – Before commencing business, bureaux de change shall obtain an authorisation issued by the Autorité de contrôle prudentiel et de résolution, which shall verify that the undertaking meets the following requirements: a) It is registered in the Trade and Companies Register ; b) It has paid-up capital or a guarantee from a credit institution, finance company or insurance company for an amount at least equal to a sum set…

Any person who has not received prior authorisation from the Autorité de contrôle prudentiel et de résolution may not engage in the business of manual foreign exchange. Any person who has been subject to the sanction provided for in V of Article L. 561-36-1 is prohibited from carrying on the business of manual foreign exchange or from de jure or de facto managing a company carrying on such a business….

It is forbidden for any company that is not authorised as a manual changer to use a name, company name, advertising or any other process that gives the impression that it is authorised as a manual changer, or to create confusion in this respect.

I. – Money changers must at all times provide proof of compliance with the conditions set out in Article L. 524-3 and with all the provisions to which they are subject, in particular those of Title VI which apply to them. Money changers shall keep a register of their transactions. The Minister responsible for the economy may, by order, make them subject to special rules and conditions relating to their…

I. – Customs officers with at least the rank of controller are empowered to investigate and establish breaches of the rules applicable to manual money changers, as laid down by this Title and by Title VI or the regulations adopted for their application. II. – To this end, the customs officers referred to in I shall have access, during the hours of business of manual money changers, to premises used…