MN HF4375

Licensed money transmitters must place a one-hour hold on funds at the sender's request, with the hold period beginning when the licensee receives the money

Senders may cancel any money transmission at no cost within the one-hour window

Licensees may delay forwarding money if they reasonably believe the sender is a fraud victim or that a crime or legal violation has occurred, is occurring, or may occur

When a licensee fails to forward money as required, they must explain the reason to the sender upon inquiry, unless doing so would violate state or federal law

Effective August 1, 2026, applying to money transmissions occurring on or after that date