Class Code 8850
Check Cashers
Class code 8850 covers employees whose primary work is cashing checks, handling customer funds, and operating storefront money‑service transactions. For California employers the September 1, 2026 approved pure premium rate is $1.924 per $100 of payroll — an important factor when budgeting workers' compensation costs for check‑cashing operations.
What Class Code 8850 Covers
This classification applies to workers in storefront check‑cashing and money services businesses who verify and process checks, disburse cash, sell money orders/prepaid products, and maintain cash drawers and safes. It covers point‑of‑sale clerks, customer service staff and managers who routinely count currency, verify identification and signatures, operate electronic verification terminals, and prepare daily deposits. Activities include handling payroll checks, government checks, personal checks, money orders, application of holds, and routine reconciliation of receipts. Administrative tasks performed by managers in the same location (cash balancing, reporting, staff supervision) are included when performed on site as part of the cash‑handling operation.
Who It Applies To
- Retail check‑cashing storefront clerks and cashiers
- Money services business (MSB) customer‑service agents
- Payday/advance loan storefront clerks who perform check cashing
- Store managers and assistant managers who handle cash reconciliation
- Mobile or temporary cash‑handling agents working at events or kiosks
Common Job Duties
- Verify customer identity and signatures; inspect checks for fraud indicators
- Count and disburse cash, make change, and balance cash drawers
- Operate electronic check verification and point‑of‑sale terminals
- Prepare deposits, load and secure safes, and reconcile daily receipts
- Sell money orders, prepaid cards and process bill payments or transfers
- Document transactions, complete required logs, and communicate with banks or processors
Common Injury Risks
Understanding the $1.924 Rate
The pure premium rate of $1.924 per $100 of payroll represents the portion of workers' compensation cost attributed to expected claim costs for this classification before insurer adjustments. Insurers multiply that rate by your payroll in hundreds of dollars to produce the base premium, then apply experience modifications, policy credits/discounts, state assessments, and any retrospective or deductible program adjustments to determine the final premium an employer pays.
Cal/OSHA Compliance Requirements
California requires every employer to maintain an effective Injury and Illness Prevention Program (IIPP) that identifies workplace hazards — for check‑cashing this must include foreseeable violence and robbery risks, hazard controls, and employee training. Employers must also keep injury logs (Form 300/301/300A where applicable), implement an emergency action plan, and provide appropriate first aid and post‑incident procedures. If an employee is exposed to blood or bodily fluids during an assault, the Bloodborne Pathogens standard and related medical follow‑up apply.
How Key HR Helps Employers Under Class Code 8850
A PEO like Key HR helps employers with classification accuracy, consistent payroll reporting, and centralized claims management to control costs for code 8850 exposures. Key HR can implement loss‑control programs — robbery prevention protocols, staff training, security audits, return‑to‑work plans and experience‑mod monitoring — and bundle purchasing power to lower insurance expenses and speed claim resolution.
Get a QuoteFrequently Asked Questions
Are bank tellers or credit union staff included in code 8850?
No — employees of banks, credit unions and many insured financial institutions are typically classified under different codes or special classifications for depository institutions. Code 8850 is for retail check‑cashing and money‑service storefront operations; consult Key HR for a definitive classification review.
What practical steps lower workers' comp risk for a check‑cashing business?
Adopt a written robbery prevention policy, limit visible cash, install surveillance and silent alarms, train staff in safe customer interactions and de‑escalation, schedule two‑person shifts for high‑risk hours, and document daily reconciliations. These controls reduce claims frequency and severity and improve your experience modification.
Does workers' comp cover injuries from a robbery or assault?
Yes — work‑related injuries resulting from robberies or assaults are generally covered by workers' compensation, including medical care, temporary disability and vocational benefits as applicable. Employers should report incidents quickly to their carrier, preserve incident evidence, and follow Cal/OSHA reporting and post‑incident procedures.
Quick Facts
- Class Code
- 8850
- Classification
- Check Cashers
- Pure Premium Rate
- $1.924 / $100 payroll
- Effective Date
- September 1, 2026
- Source
- WCIRB Approved Filing
Manage Workers' Comp Through a PEO
Key HR provides pay-as-you-go workers' comp for California employers — no large deposits, no audits, better rates.
Get a Quoteor call (800) 922-4133Ready to Simplify Workers' Comp for Class Code 8850?
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