Check Cashers | WCIRB California

Classification Phraseology as of:

9/1/2023

Classification Code:

8850

Phraseology:

CHECK CASHERS — all employees — including tellers, guards, Clerical Office Employees, Clerical Telecommuter Employees and Outside Salespersons

Footnote:

This classification applies to each separate check cashing or money transfer location at which the fees charged for check cashing, deferred deposit transactions, payday loans, remittances, money orders or wire transfers equal or exceed 75% of gross receipts.

Check cashing operations performed by retail stores where fees charged for check cashing, deferred deposit transactions, payday loans, remittances, money orders or wire transfers do not equal or exceed 75% of gross receipts shall be assigned to the applicable retail Stores Industry Group classification.

Banks shall be classified as 8808, Banks.

Credit unions shall be classified as 8801, Credit Unions.

Rules:

USRP, Part 3, Section III, Rule 4, Standard Exceptions, Subrule c, Standard Exception Classification Procedures
USRP, Appendix IV, Classifications Including Clerical Office Employees, Clerical Telecommuter Employees or Outside Salespersons

Approved Pure Premium Rate:

To learn how approved pure premium rates are different than insurer rates, click here.

Effective Date	Pure Premium Rate	Note
9/1/2023	$1.43	New/Renewal
9/1/2022	$1.61	New/Renewal
9/1/2021	$1.84	New/Renewal

Prior Phraseology and Footnote:

Shown below is the previously published phraseology and footnote	Effective Date
Phraseology: CHECK CASHERS — all employees — including tellers, guards, Clerical Office Employees and Outside Salespersons Footnote: This classification applies to each separate check cashing or money transfer location at which the fees charged for check cashing, deferred deposit transactions, payday loans, remittances, money orders or wire transfers equal or exceed 75% of gross receipts. This classification includes Clerical Office Employees and Outside Salespersons at the same location or at separate locations. Check cashing operations performed by retail stores where fees charged for check cashing, deferred deposit transactions, payday loans, remittances, money orders or wire transfers do not equal or exceed 75% of gross receipts shall be assigned to the applicable retail Stores Industry Group classification. Banks shall be classified as 8808, Banks. Credit unions shall be classified as 8801, Credit Unions.	9/1/2021

Shown below is the previously published phraseology and footnote

Effective Date

Phraseology:
CHECK CASHERS — all employees — including tellers, guards, Clerical Office Employees and Outside Salespersons

Footnote:

This classification applies to each separate check cashing or money transfer location at which the fees charged for check cashing, deferred deposit transactions, payday loans, remittances, money orders or wire transfers equal or exceed 75% of gross receipts. This classification includes Clerical Office Employees and Outside Salespersons at the same location or at separate locations.

Check cashing operations performed by retail stores where fees charged for check cashing, deferred deposit transactions, payday loans, remittances, money orders or wire transfers do not equal or exceed 75% of gross receipts shall be assigned to the applicable retail Stores Industry Group classification.

Banks shall be classified as 8808, Banks.

Credit unions shall be classified as 8801, Credit Unions.

9/1/2021

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