# South Carolina — State Earned Wage Access (EWA) Regulatory Frameworks — Classification, Fee Caps, and Licensing Requirements

For South Carolina, statute citation is S.C. Code Ann. §§ 39-5-810 through 39-5-870 (Act No. 190, R188, S700); effective date is November 21, 2024; product classification is not a consumer loan; not a loan; not money transmission; licensing requirement is registration required with the South Carolina Department of Consumer Affairs; free option required is yes — provider shall offer to the consumer at least one reasonable option to obtain proceeds at no cost to the consumer, recorded from its source on 2026-08-18.

- **state:** South Carolina _(verified: appears in the quote below)_
- **statute citation:** S.C. Code Ann. §§ 39-5-810 through 39-5-870 (Act No. 190, R188, S700) _(our reading, not quoted from the source)_
- **effective date:** November 21, 2024
- **product classification:** not a consumer loan; not a loan; not money transmission _(verified: appears in the quote below)_
- **licensing requirement:** registration required with the South Carolina Department of Consumer Affairs
- **free option required:** yes — provider shall offer to the consumer at least one reasonable option to obtain proceeds at no cost to the consumer
- **late fees prohibited:** yes — no person shall charge a late fee, interest, or any other penalty or charge for failure to repay outstanding proceeds
- **collection limits:** provider shall not compel repayment through civil suit, third-party collector, or sale to debt buyer

## What the source says

> Proceeds provided to a consumer by the provider shall not be considered a consumer loan for purposes of Section <https://www.scstatehouse.gov/code/t37c003.php#37-3-104> 37-3-104 or a loan for purposes of Section <https://www.scstatehouse.gov/code/t37c003.php#37-3-106> 37-3-106 .

## Source

- https://www.scstatehouse.gov/sess125_2023-2024/bills/700.htm

Last verified: 2026-08-18. Review by: 2027-02-14.
Part of [State Earned Wage Access (EWA) Regulatory Frameworks — Classification, Fee Caps, and Licensing Requirements](https://referencesource.org/state-earned-wage-access-regulations/).