By the Division of Banks

License Requirements For Entities Which Sell, Distribute & Maintain ATMs

A corporation which provides services to merchants in order to make available electronic transfers would be required to obtain a license from the Commissioner of Banks under Mass. Gen. Laws chapter 167B § 5. Each independent sales organization selling and distributing ATMs in the Commonwealth would also require a license under Mass. Gen. Laws chapter 167B § 5, unless such an entity had an exclusive relationship with a licensed ATM seller/ distributor and did not sell or distribute ATMs for other corporations. Also, merchants which purchase or lease an ATM must be licensed to do so under Mass. Gen. Laws chapter 167B §§ 4 & 5.